Jaipur11 hours agoAuthor: Saurabh Khandelwal
Ruchir Modi, son of former IPL chairman Lalit Modi, is in news these days. Like his father, his lifestyle is also very luxurious. He is also very passionate about cricket. Ruchir Modi, 28, is the director of several companies including cigarette maker Godfrey Phillips India (GPI), Fashion TV. Lalit Modi has made him his successor 3 days back.
Ruchir stays abroad most of the time. He often keeps sharing photos while spending holidays on social media. Ruchir spends time in a luxury yacht, even attending company meetings from the yacht itself.
See- some pictures related to Ruchir’s life style.
Ruchir Modi often travels in charter jets with his friends.
Ruchir Modi with his friend in Moscow, the capital of Russia.
Ruchir has shared these photos from his social media account. They go on holiday with friends.
About two years ago, while sharing this photo, Ruchir wrote – ‘Spending the best time left of the year.’
Ruchir is the Brand Head of Fashion TV and Founder of Modi Ventures
Ruchir is a director in GPI as well as other companies under Modi Enterprises. Along with this, he is also the brand head of Fashion TV. He himself has started a company named Modi Venture, which works on technology projects. Ruchir has also worked as an intern in the UK Parliament House of Commons in 2013.
A few years ago, he celebrated the Holi festival with members of the erstwhile royal family of Jaipur. File photo of City Palace, Jaipur.
Ruchir Modi with father Lalit Modi and family and friends in Maldives.
He is often seen enjoying with his friends.
Studied at American School in London and Mumbai
Ruchir Modi did his schooling from the American School of Bombay and the American School of London. Along with this, there is also a graduate in Global Business Management from Regent’s University of London. His sister Alia Modi runs an interior design company in London itself.
Ruchir is with his mother Meenal Modi. He shared this photo of London on social media.
Read- What property dispute is going on in Lalit Modi’s family and everything you want to know about Lalit Modi’s son Ruchir Modi….
There is a dispute going on with the mother and sister regarding the property of Lalit Modi. Distressed by these quarrels, Lalit Modi has handed over the command of his family to his son Ruchir Modi. After this, once again the question arose that after all what is this quarrel and about which property?
Quarrel over property worth 11 thousand crores
The family feud came to the fore after Lalit Modi’s father KK Modi passed away in November 2019. Modi Enterprises is a company of the Modi family. It is said that this company is worth about 11 to 12 thousand crores.
Many other companies also work under this company. This also includes Godfrey Phillips India (GPI), a major cigarette maker. The market cap of Godfrey Phillips India is currently more than 10 thousand crores. The MD of this company is Lalit Modi’s mother Bina Modi. This company is one of the largest tobacco companies in India.
According to media reports, the KK Modi Group had transferred the shareholding of all the family members to the KK Modi Family Trust. In January 2020, there were reports that all the properties of KK Modi Group were being sold. Lalit Modi also confirmed this by tweeting that the other three trustees of the trust want to run the business, while I want to sell it. Global investment banker Morgan Stanley, JP Morgan and other institutions were also contacted on behalf of the trust.
This case of property between the members of the Modi family is also going on in the court. According to media reports, in December 2021, the family had reached a settlement. Under this agreement, the property worth 11 thousand crores was to be distributed equally among each branch of the family.
Lalit Modi with his daughter Alia, Alia’s husband and son Ruchir. Modi’s wife Meenal Modi died in 2018 due to cancer.
Lalit Modi was to get Rs 917 crores in assets, his two children Rs 917-917 crores, Lalit Modi’s elder sister Charu Modi Rs 917 crores, both the family members of Charu Modi were to get Rs 917-917 crores. While Lalit Modi’s younger brother Sameer Modi was to get Rs 687.5 crore, his wife and two daughters each got Rs 687.5 crore. Whereas Lalit Modi’s mother Bina Modi was to get Rs 2750 crore under this agreement. However, this agreement could not be reached.
In July 2022, Lalit Modi and Bina Modi had told the Supreme Court that efforts to reconcile the family had failed. However, it is not yet clear whether this thing was said in the Supreme Court for this agreement or it is some other issue. Bhaskar messaged Lalit Modi’s son Ruchir Modi regarding the whole quarrel, but did not get any reply from him.
Ruchir raised questions on grandmother’s appointment
In November 2020, Ruchir Modi raised questions about his grandmother Bina Modi being made MD and President of Godfrey Phillips India (GPI) and termed the appointment as wrong. He had also complained about this to the Department of Corporate Affairs, although GPI had termed this allegation as baseless. Ruchir also complained to the Stock Exchange Board of India (SEBI), National Stock Exchange and Bombay Stock Exchange. Due to this, once the company had to hold its quarterly results.
Ruchir Modi is the Director of Godfrey Phillips India Limited. He shared this photo on social media.
Ruchir had also taken a secret entry in cricket
Even after Lalit Modi fled India surrounded by money laundering case, he wanted to retain control over Rajasthan Cricket Association (RCA). Modi was the President of RCA, then the BCCI had suspended RCA. About six years ago, sitting in Dubai, Lalit Modi made such a fielding that Alwar District Cricket Association’s son Ruchir Modi was made the president and after that he had prepared a plan to make RCA president. At that time, Bhaskar was the first to reveal that Ruchir Modi has entered Rajasthan cricket. Ruchir was the President of Alwar Cricket Association from 2016 to 2020.
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Lalit Modi said- Mother will destroy my family: Said- Mother usurped the properties of Modi family; Know who is Bina Modi
Former IPL chairman Lalit Modi has opened a front against his real mother along with handing over the command of the family trust to son Ruchir Modi. Modi has showered allegations on his mother Dr. Bina Modi. He wrote- After me this woman (my mother) will destroy my family, will make my children destitute.
Lalit Modi has also apologized unconditionally to former Attorney General and well-known Supreme Court lawyer Mukul Rohatgi by posting an Instagram. In fact, Modi had made many strong comments against Rohatgi in the form of threatening him. Lalit Modi’s mother is the chairperson of Modi Enterprises. She became the chairperson of Modi Enterprises in 2019 after the death of group head KK Modi. (Read full news)
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Former IPL chairman Lalit Modi is on oxygen support in London. He has got corona for the second time in two weeks. In the midst of illness, he took a big decision. He handed over everything to the children. Lalit Modi was airlifted from Mexico City three days ago and admitted to the hospital in London. From the hospital itself, he resigned from the Family Trust and announced handing over the command of the family to son Ruchir.read full news)