New Delhi

Controversial cricket administrator and former IPL chairman Lalit Modi on Sunday announced that his son Ruchir Modi would succeed him as head of Lalit Kumar Modi (LKM) branch of the KK Modi Family Trust.

He also announced his resignation as head of LKM branch and beneficiary of the KK Modi Family Trust.

Modi in a letter to members of the KK Modi Family Trust, namely Bina Modi, Charu Modi and Samir Modi, said that the ongoing litigation between him and his mother and sister have been going on for too long and caused a lot of distress to him, despite several rounds of negotiations for settlement.

Thus, he has decided to name his son, Ruchir as his successor of the LKM branch, who would handle all its affairs.

Lalit Modi said in the letter that he took the decision to name his son as his successor after discussions with his daughter Aliya Modi.

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The move by the businessman has come after he was recently hospitalised and placed on oxygen support after suffering from Covid-19.