The Overnight Inheritance: Ruchir Modi Takes Over IPL Founder’s Business Worth Rs 4555 Crore
Ruchir Modi, the son of Lalit Modi, the founder of the Indian Premier League (IPL), recently inherited his father’s business worth Rs 4555 crore overnight. Lalit Modi, who is currently living in London due to legal troubles in India, handed over the reins of his business to his son, Ruchir Modi.
Early Life and Career of Ruchir Modi
Ruchir Modi was born in 1987 in Delhi, India. He graduated from the University of Warwick in the UK, with a degree in International Business. After completing his studies, Ruchir returned to India and joined his father’s company, the Modi Group. He started his career with the company by working in the marketing and brand management department. He later moved on to manage various other aspects of the business.
Ruchir Modi’s Role in the Modi Group
Ruchir Modi is currently the Director of the Modi Group, which is a conglomerate that operates in various sectors such as real estate, education, and healthcare. The group was founded by Ruchir’s grandfather, Gujarmal Modi, in 1933. After Gujarmal’s death, the company was managed by his sons, K.K. Modi and B.K. Modi. Lalit Modi, Ruchir’s father, took over the reins of the company in the early 1990s.
Ruchir Modi has been actively involved in the Modi Group’s operations for many years. He has been instrumental in expanding the company’s real estate business and has been involved in the development of several high-profile projects. Ruchir has also been actively involved in the company’s education and healthcare divisions.
Ruchir Modi’s Inheritance of Lalit Modi’s Business
Lalit Modi, who was the founder of the Indian Premier League (IPL), had been living in London since 2010, after facing allegations of financial irregularities in India. He had been running the Modi Group from London, but in 2021, he decided to hand over the reins of the company to his son, Ruchir Modi. Lalit Modi cited his advancing age and health issues as the reasons for his decision.
After taking over the Modi Group, Ruchir Modi became one of the youngest Indian billionaires overnight. The Modi Group has interests in various sectors, including real estate, education, healthcare, and entertainment. The group’s flagship company, Godfrey Phillips India, is the third-largest cigarette maker in India.
Ruchir Modi’s Plans for the Modi Group
Ruchir Modi has big plans for the Modi Group. He has stated that he wants to take the company to new heights and expand its operations globally. He has already started working on several new projects, including a luxury hotel in Delhi and a healthcare venture in Mumbai. Ruchir has also been actively involved in the company’s CSR initiatives, which include providing education and healthcare services to underprivileged communities.
Ruchir Modi, the son of Lalit Modi, has inherited his father’s business worth Rs 4555 crore overnight. He has been actively involved in the Modi Group’s operations for many years and has big plans for the company’s future. Ruchir’s inheritance of his father’s business has made him one of the youngest Indian billionaires overnight. It remains to be seen how Ruchir Modi will take the Modi Group forward, but it is clear that he is ready to take on the challenge.