Lalit Modi appoints son Ruchir as his successor in ‘Family Trust’
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In a social media post, Modi, who was hospitalized in London after being hit by a coronavirus infection, talked about making Ruchir Modi his successor in family matters. He said that he has taken this decision after discussing with daughter Alia in this regard.
Amid an ongoing property dispute in business conglomerate KK Modi Family Trust, Lalit Modi on Sunday announced the appointment of son Ruchir Modi as his successor with immediate effect. In a social media post, Modi, who was hospitalized in London after being hit by a coronavirus infection, talked about making Ruchir Modi his successor in family matters. He said that he has taken this decision after discussing with daughter Alia in this regard.
Modi said in the statement, “I have discussed this with my daughter and both of us are of the opinion that I want to hand over control of the affairs of the LKM (Lalit Kumar Modi) family and command of my beneficial interests in the trust to my son.” Should be handed over to Ruchir Modi.” Lalit Modi is at loggerheads with his mother and sister over control of assets within the family. Describing the legal dispute as long, tedious and difficult, Modi said, “There have been several rounds of talks to settle it but there is no end in sight to it.” It has hurt me a lot.
Former Indian Premier League (IPL) chairman Lalit Modi has been brought to London from Mexico City after his health deteriorated and he has to be given artificial oxygen. Along with making Ruchir his successor in the family, Modi said that the family trust would no longer have any interest in any property or income. However, he will continue as a trustee of KKMFT.
Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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