Ruchir Modi | Son and successor of IPL founder
The Hindu
28-year-old Ruchir Modi, like his father, is a cricket enthusiast, handles the family business and has a flamboyant lifestyle
Former IPL Chairman Lalit Modi on January 15 announced his son Ruchir Modi as his successor beneficiary from his family’s side in the KK Modi Family Trust with immediate effect.
In a social media post, Mr. Modi. who has been involved in a legal tussle against his mother Bina Modi and sister Charu over a property dispute in the family, also announced his son as the head of his branch of the family.
In the social media post, Mr. Modi said, ”In light of what I have gone thru (sic) it’s time to retire and move on. And groom my kids. I am handling them all.”
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“The present litigation with my mother and sister, is tedious, strenuous and has gone on for 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,” he said in a statement.
A global business management graduate from Regent’s University, London, 28-year-old Ruchir Modi, like his father, is a cricket enthusiast, handles the family business and has a flamboyant lifestyle.
He is the director of cigarette-maker Godfrey Phillips India Ltd and other family-controlled firms such as KK Modi Group and Modi Enterprises. He is also the founder and CEO of Modi Ventures. He has led projects like Modicare (network marketing), Twenty-Four Seven (convenience stores), ColorBar (cosmetics).