The Supreme Court of India has adjourned the long-standing property dispute within the family of former IPL chairman Lalit Modi and his mother, Bina Modi. The court has scheduled a final hearing for November after the mother-son duo approached the apex court last year following failed mediation attempts.
The dispute revolves around the KK Modi Family Trust, which experienced disagreements among the trustees following the death of KK Modi in 2019. Lalit Modi contended that a sale of all trust assets had been initiated and distribution to beneficiaries should occur within a year. However, his mother and siblings argued that the trust deed did not authorize such a sale.
In January 2023, Lalit Modi announced on social media that he had named his son, Ruchir Modi, as the new head of the KK Modi Family Trust. He expressed his distress over the ongoing legal battle with his mother and sister, stating that settlement discussions had failed to bring a resolution.
Given the protracted nature of the litigation, Lalit Modi decided to retire and focus on grooming his children. He shared his resignation from the KK Modi Family Trust on Instagram, emphasizing the toll the dispute had taken on him.
In the Supreme Court proceedings, Lalit Modi challenged a Delhi High Court judgment, arguing that the anti-arbitration injunction lawsuit filed by his mother against him was not maintainable. The apex court had previously appointed former judge Justice R.V. Raveendran as a mediator to facilitate a resolution.
On April 13, the Supreme Court accepted Lalit Modi's unconditional apology in a contempt case related to his social media remarks against the Indian judiciary. The court noted that he had deleted the offending posts and published an apology in newspapers. However, it warned that any future statements tarnishing the judiciary would be viewed seriously.
As part of the ongoing dispute, an undertaking was given to the court that no statements would be made on social media by any party involved. The Supreme Court's final hearing in November will be crucial in determining the outcome of the property dispute and bringing closure to the long-standing legal battle between Lalit Modi and his mother.
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