Belongs to business family
Born into an influential business class family in Delhi, Lalit Kumar Modi was never a bright student, but was actually a shrewd businessman. Lalit was born on 29 November 1963 in the house of Krishna Kumar Modi. His grandfather, Raj Bahadur Gujarmal Modi, was the founder of Modinagar, a city near Ghaziabad, and started Modi Enterprises. KK Enterprises had an empire worth billions. Lalit Modi did his early education at Bishop Cotton School in Shimla and boarding schools in Nainital. However, he never liked studies. He was a very weak student.
Name associated with controversies
Lalit Modi’s name has been associated with controversies. In the year 1985, he was arrested for selling drugs in the university. He was later taken into custody on charges of assault with a deadly weapon. In the same year, Lalit Modi and another student were accused of kidnapping. However, his two-year prison sentence was suspended. Until 1992, Modi was the executive director of Godfrey Phillips India, one of India’s largest tobacco companies. Around the year 1991, he married Meenal, a friend of his mother. He had met Meenal when he was studying in America.
125 crore scam allegation
Lalit Modi is accused of a scam of Rs 125 crore. This matter pertains to the time when Lalit Modi was the commissioner of IPL. In 2008, the media rights of IPL were handed over to World Sports Group, but then a deal was struck between Multi Screen Media Limited (MSM) (now Sony Pictures) and World Sports Group (WSG). It was said in this deal that if MSM gives Rs 425 crore. So they will cancel their media rights. After this, Multi Screen Media Limited reportedly paid Rs 125 crore and the rights came to World Sports Group. At that time the BCCI secretary had told that there is no role of BCCI in this. Lalit Modi himself got this deal done using his influence. Lalit was said to have made a profit of 125 crores in this case.
property worth billions
Delhi-born Lalit Modi fled India in 2010 and fled abroad. He has a luxurious palace-like house in London. His bungalow in London is spread over 7000 square feet. Lalit’s bungalow has 8 bedrooms. Lalit pays a monthly rent of Rs 20 lakh for this bungalow. In Lalit Modi’s car collection, he has three Ferrari cars, whose value is said to be around Rs 15 crore. According to media reports, Lalit Modi is earning crores of rupees annually from his business. His net worth is said to be around 12 thousand crores. In which he has assets of about 4500 crores.
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