Lalit Modi names his son Ruchir Modi as successor beneficiary in Kk Modi Family Trust


Modi, who previously spoke about his condition due to COVID-19 infection and pneumonia, requiring external oxygen assistance in London after being flown in from Mexico City, said he discussed the question of appointing his son as his successor along with his daughter Aliya.

Former IPL President Lalit Modi announced on Sunday that his son Ruchir Modi will be his successor on his family’s side in the KK Modi Family Trust with immediate effect.

In a social media post, Modi, who was embroiled in a legal fight against his mother Bina Modi and his sister Charu over a property dispute in the family, also announced that his son was the head of his family. family branch.

“The current litigation with my mother and sister is tedious, arduous and long-lasting, and although there have been several rounds of talks for a settlement, there is no end in sight. caused and continues to cause me immense distress,” he said in a statement shared on Instagram.

Modi, who previously spoke about his condition due to COVID-19 infection and pneumonia, requiring external oxygen assistance in London after being flown in from Mexico City, said he discussed the question of appointing his son as his successor along with his daughter Aliya.

“I have discussed this with my daughter and she and I are of the opinion that I should hand over control of the LKM (Lalit Kumar Modi) family affairs and beneficial interest in the Trust to my son Ruchir Modi,” the statement said. said.

Citing a clause in the KK Modi Family Trust Deed (KKMFT), he said: “I hereby appoint my son Ruchir Modi, beneficiary of KKMFT under LKM branch, to be my successor as the next head of the LKM branch of KKMFT and it will vest immediately”. In his resignation as Branch Head (LKM) and Beneficiary of KK Modi Family Trust, he said after discussing with his son and daughter, that he relinquishes his beneficial interest, currently vested as well as all which could be acquired in the future in favor of his son Ruchir.

Subsequently, Modi declared that he would cease to have any interest, present and future, in any of KKMFT’s assets, property or income.

However, he clarified that “this does not affect my status as a trustee of the KKMFT nor my rights as a member of the KKM family and any claim made for family expenses under clause 6.1.5 of the KKMFT shall not stand. affected by my donating my beneficial interest in favor of my son. In the social media post, Modi said, “In light of what I have been through (sic), it is time to retire and move on. And groom my children. I manage them all. Modi, who launched the T20 Indian Premier League (IPL) – now the richest cricket league in the world, is wanted in India after leaving the country in 2010 for London after being accused of tax evasion, money laundering and manipulating broadcast deals.


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