Lalit Modi is the founder, commissioner and first chairman of the Indian Premier League. Though he belonged to a wealthy family, however, it was his incredible vision and political connections which led him to become one of the most successful businessmen in India. Apart from being successful in the business world, Lalit Modi often remains in the limelight for his personal choices. From his alleged relationship with Sushmita Sen to his family disputes over property, Lalit Modi keeps on hitting the headlines for matters related to his personal life. And now, something similar happened as he handed over the company to his son, Ruchir Modi.
Lalit Modi resigned from the LKM family and handed over his company to his son
On January 15, 2023, Lalit Modi took to his Instagram handle and shared a picture of his resignation letter. Sharing the picture of a letter that he wrote to the trustees of K.K. Modi Family Trust (KKMFT), the businessman announced his retirement. In the letter, Lalit Modi mentioned that he is nominating his son, Ruchir Modi as his successor and head of the LKM branch of KKMFT. In his letter, the businessman also revealed that his disturbed relationship with his mother, Bina Modi and his sister, Charu Modi has severely impacted his health. Mentioning his bad health condition as the reason for his decision, Lalit Modi stated that he and his daughter, Aliya Modi, have decided to hand over control of the affairs of the LKM family to his son. Along with it, he wrote:
“In light of what I have gone thru, it’s time to retire and move on. And groom my kids. I am handing them all.”
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Netizens reacted to Lalit Modi’s decision
Soon after Lalit Modi shared the post, social media users flooded the comment section with their reactions. While many wished Lalit a happy and healthy future, some even took a dig at the businessman for handing over his company to his son only. Reacting to Lalit’s retirement, people called him out for not dividing his property equally between his kids. One of the social media users commented, “But you are only handing it to your son.” Another wrote, “Be fair to ur daughter modi saheb.” One more commented, “Hand over power to both son and daughters as equal share holders after your demise.”
Lalit Modi on his battle with COVID-19 and pneumonia
On January 14, 2023, Lalit Modi had taken to his Instagram handle and shared a series of pictures featuring his multiple selfies and screengrabs of his medical reports. The businessman also shared a picture of a fingertip pulse oximeter in which we could see the reading 87, which clearly shows how seriously low was his oxygen levels. Along with the pictures, Lalit Modi also penned a long note in the caption. In his note, he thanked his son, Ruchir Modi, for arranging everything to bring him back to London.
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Lalit Modi and Sushmita Sen’s relationship
Lalit Modi’s love life often grabs the limelight and public attention. For instance, on July 14, 2022, he had taken to his Twitter handle and posted a couple of mushy pictures with Sushmita Sen. Sharing the pictures, he announced his new beginning with the actress. In the pictures, Lalit Modi could be spotted having a romantic moment with Sushmita during their ‘us’ moment on a cruise. Along with the photos, he even penned a long note and showered love on his ladylove.
What do you think about netizens’ reaction to Lalit Modi’s decision? Let us know!
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