IPL 2023: Former IPL Chairman Lalit Modi named his son Ruchir Modi as the KK Modi Family Trust’s future trustee with immediate impact on January 15. Mr. Modi, who has been embroiled in a court battle with his mom Bina Modi and sister Charu over a business issue in the family, declared his son as the leader of his section of the family in a posting on social media.
In the social media statement, Mr. Modi stated, “In light of everything I have gone through (sic), it’s time to resign and move on.” and groom my children. “I’m taking care of everything.”
“The current dispute with my mother and sister is tiresome, and demanding and has gone on for a long, and despite there having been multiple rounds of conversations for resolution, there is no end in sight.
It has and continues to bring me enormous grief,” he added in a statement.
All You Need To Know About Ruchir Modi:
Ruchir Modi is a 28-year-old global business marketing graduate from Regent’s University in London. He is a cricket fan, oversees the family company, and lives a flashy lifestyle.
He serves on the boards of Godfrey Phillips India Ltd and other family-owned businesses such as KK Modi Group and Modi Enterprises.
In addition, he is the CEO and founder of Modi Resources. He has led initiatives including Modicare (network marketing), Twenty-Four Seven (commercial shops), and ColorBar (cosmetics).
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From 2016 through 2020, the junior Modi led the Rajasthan Cricket Organisation’s Alwar section. He also ran for the Rajasthan Cricket Association elections in 2017 but was beaten by C.P. Joshi. He claimed to have “cross-voted” in the polls.
Minal Sagrani, Ruchir Modi’s mom, passed away from cancer in 2018. Aliya Modi, his older brother, is the founder and CEO of AMRM International Consultants Ltd, a London-based interior design business. Ruchir has a step-sister through his mother’s previous marriage as well.
Lalit’s conversation with daughter Aliya:
Lalit Modi claimed that he had spoken to his daughter Aliya about naming his son as his future. The declaration said, “I have talked this with my daughter and we are to the conclusion that I must give my son Ruchir Modi management of the LKM (Lalit Kumar Modi) family’s business and its financial participation in the Trust.”
Lalit Modi was the previous IPL chairman and trustee of the KK Modi Family Trust. He named his son Ruchir as his future beneficiary from his family’s side on Sunday.
In a Twitter message, Modi also named his kid as the leader of his section of the family by releasing a letter. Modi has been fighting his mom Bina Modi and sister Charu in court over a land issue in the family.
