Supreme Court adjourns property dispute between Lalit Modi and his mother Bina Modi; final hearing in Nov
Lalit Modi argued that following his father's death, due to the disagreement among the trustees regarding the sale of trust assets, a sale of all trust assets has been initiated and the distribution to beneficiaries must take place within a year, as stated by the judge presiding over the case. On the other hand, his mother and siblings argued that according to a careful interpretation of the trust deed, no such sale has been activated.
In January 2023 Lalit Modi named his son Ruchir Modi the new head of the branch and beneficiary of the KK Modi Family Trust. Lalit Modi shared the news on social media and said that he is in great pain due to the ongoing legal tussle with his mother and sister.
"The present litigation with my mother and sister is tedious, strenuous, and has gone on for a long, and even though there have been several rounds of discussions for settlement, there is no end in sight. It has caused and continues to cause me immense distress," Lalit Modi said in January while stepping down from the KK Modi Family Trust.
“In light of what I have gone through, it’s time to retire and move on. And groom my kids.
I am handing them all," Lalit Modi said while sharing his resignation on Instagram.
. Read more on livemint.com
