Lalit Modi – Net Worth, Career Details, and More

Full nameLalit Modi
ProfessionBusinesswoman, former cricketer administrator
Monthly Income And Salary$2 Million +
Yearly Income And Salary$20 Million +
Age59 years old
Zodiac SignSagittarius

Who is Lalit Modi?

Lalit Modi, born on 29 November 1963, is an Indian businessman and a former cricket administrator. He is now a fugitive wanted for financial fraud. He played a significant role in the Indian Premier League (IPL) as the founder and first chairman. He led the IPL for three years until 2010. Additionally, Modi was the Chairman of the Champions League from 2008 to 2010 and held the position of Vice President in the Board of Control for Cricket in India (BCCI) from 2005 to 2010. He also served as the President of the Rajasthan Cricket Association during two terms, from 2005 to 2009 and later from 2014 to 2015. Furthermore, he was the Vice President of the Punjab Cricket Association from 2004 to 2012.

Early Life and Education

Lalit Modi was born on 29 November 1963 in Delhi, India. He was born into a prominent business family, with his father Krishan Kumar Modi, and his mother Bina Modi. Lalit has an elder sister named Charu Modi Bhartia and a younger brother named Samir Modi. His grandfather, Gujar Mal Modi, founded the Modi Group business conglomerate and the town of Modinagar. Lalit’s father, KK Modi, played a crucial role in expanding the family business. In 1971, Lalit joined Bishop Cotton School in Shimla. However, due to a kidnapping threat, his family moved him to St Joseph’s College in Nainital. Unfortunately, in 1980, he was expelled from St. Joseph’s for truancy because he had left school to watch a movie.

Between 1983 and 1986, Lalit Modi went to the United States. It was to study electrical engineering and business administration. He attended Pace University in New York for two years, and then Duke University in North Carolina for one year. However, he didn’t complete his graduation from either university. In 1985, while he was a sophomore, Modi and three other students attempted to buy half a kilogram of cocaine for $10,000 at a motel. Unfortunately, the person they thought was selling the drugs threatened them with a shotgun and stole their $10,000. The following day, Modi and his friends attacked a student whom they suspected of setting them up. As a consequence, on 1 March 1985, Modi was arrested. It was done on charges of conspiracy to traffic cocaine, assault, and second-degree kidnapping. The next day, he and another student were indicted. When the case was heard in the Durham County court, North Carolina, Modi pleaded guilty to the crime and later reached a plea bargain, resulting in a suspended two-year prison sentence. Instead of serving time in prison, he was put on a five-year probation and ordered to perform 100 hours of community service. In 1986, Modi requested permission from the court to return to India, citing health issues. The Durham County Court accepted Lalit Modi’s plea. the court ordered him to complete 200 hours of community service in India. His return to India was made possible. It was done with the help of some of his father’s business associates. It included Leonard Lauder. When asked about the allegations surrounding this help in 2010, Modi denied any knowledge. He claimed that the matter had been investigated, and nothing was found against him.

In 1986, Lalit Modi returned to Delhi and joined the family business. He held the position of President at the International Tobacco Company Limited. It was from 1987 to 1991. On 21 August 1989, he became a Non-Executive & Non-Independent Director at Godfrey Phillips India, which is a significant tobacco company in India, being a joint venture between his family’s Modi Enterprises and Philip Morris International. In February 1992, he was appointed as an executive director of Godfrey Phillips India and held that position until 1 August 2010.

Net Worth

As of 2023, Lalit Modi’s net worth is reported to be $585 million.

Personal Life

In Delhi, Lalit Modi began a relationship. It was with Minal Sagrani. She was nine years older than him. She was the daughter of Nigerian-based Sindhi Hindu businessman Pesu Aswani. Minal had previously been married to another Nigerian-based Sindhi businessman, Jack Sagrani. At first, Modi’s family was against the relationship because Minal was a recently divorced mother and older than him. However, with the help of his grandmother Dayawati Modi, Modi convinced the family to support the marriage. They got married on 17 October 1991 in Mumbai. The couple settled in Mumbai as Minal faced social isolation in Delhi due to her previous marriage. Initially, they lived in KK Modi’s apartment in the Pedder Road area, but later they purchased Minal’s father’s house in Juhu as their family expanded. Lalit Modi and Minal had two children together – a son named Ruchir Modi and a daughter named Aliya. Minal also had a stepdaughter named Karima Sagrani from her first marriage. Tragically, Minal passed away on 10 December 2018 after battling cancer. In July 2022, Lalit Modi announced that he is dating former Miss Universe, Sushmita Sen.

Twitter is abuzz with tweets about the newly-acknowledged couple. It was about former Miss Universe Sushmita Sen and IPL founder Lalit Modi. One tweet stands out, drawing attention to how people are only seeing Modi’s recent post. It was about being in a relationship. However, the tweet points out that Modi’s journey to this point has been filled with struggles, referring to a 9-year-old tweet. This raises the question of whether the saying, “If you truly want something in life, the whole (Miss) universe conspires to help you achieve that,” is indeed true. It seems to be right in Lalit Modi’s case, as his relationship with the stunning Miss Universe didn’t happen out of the blue. They have a history that goes back to the year 2010 when they first met.

According to a report in Mumbai Mirror, the closeness between Sushmita Sen and Lalit Modi began in 2010. It was after they both attended a wedding in Italy. It belonged to Tanvi Jindal-Krishna Shete. During this time, they were seen together in Florence and later at a boutique in Rome. They were even spotted walking around a nearby square in Rome, enjoying the celebration of la dolce vita (the sweet life), as per old reports.

Since 2010, Sushmita Sen was frequently seen attending various IPL-related events. She also attended cricket matches. There were even rumors that she stayed on the same hotel floor as Lalit Modi in Kolkata during some IPL matches. Their ongoing chemistry was evident. It was through their Twitter banter in 2013, which seemed to go beyond mere friendship. In one tweet, Lalit Modi playfully commits to something, and Sushmita responds with affectionate words like ‘too kind’ and ‘love.’ Lalit Modi’s subsequent tweet asks her to reply to his SMS. It appears that Lalit Modi also faced his share of struggles in this connection. Recently, Lalit Modi took to social media and publicly declared his love for Sushmita Sen. However, as of now, the actress has not confirmed the news.

Lalit Modi surprised everyone by revealing that he and Sushmita Sen are not married but are in a relationship. He mentioned that they might consider tying the knot in the future if everything goes well. Later, Sushmita Sen also confirmed the news with a cryptic post saying, “Not married… No rings… Unconditionally surrounded by love!” Excited by the news, Modi quickly changed his Instagram display picture to feature the couple and added Sen’s official handle in his bio as ‘My love.’ However, it seems that the whirlwind romance may have come to an end. Earlier, various media outlets reported that the couple may have decided to end their relationship. It was after a month of love and romance. However, as of now, neither Lalit Modi nor Sushmita Sen has made any official announcements.

Early Business Career

In 1993, Lalit Modi founded Modi Entertainment Networks (MEN). He did it by using funds from a family trust. MEN started as a 10-year joint venture with Walt Disney Pictures. It started broadcasting some of Disney’s content in India, including Fashion TV. In 1994, MEN secured a significant contract worth $975 million. It was to become the pan-India distributor of ESPN. Lalit Modi’s responsibility was to collect money from cable companies in India in exchange for broadcasting ESPN. However, ESPN did not renew its contract with Modi, claiming that he had underreported revenues. Additionally, MEN lost a contract with Fashion TV due to a falling out between Modi and its founder, Michel Adam Lisowski. Despite being the President and managing director of Modi Enterprises, an industrial conglomerate run by his family, most of Modi’s businesses in Mumbai were not profitable. He relied on a maintenance allowance from his father’s company for his expenses. In 2002, Lalit Modi ventured into the online lottery business by launching Sixo in Kerala.

Cricket Administration

While in the US, Lalit Modi was inspired by the immense revenues generated by American sports leagues. In 1995, he proposed the idea of a new 50-over cricket tournament to the Board of Control for Cricket in India (BCCI). He even registered the name “Indian Cricket League Limited” for this proposed league. However, the BCCI did not take his proposal seriously. Determined to make a difference, Modi decided to join the BCCI. To achieve this, he successfully got elected to the Himachal Pradesh Cricket Association. It is a constituent body of BCCI, in 1999. But his attempt to gain control of the Association didn’t succeed, and he was compelled to leave the Association by the state’s Chief Minister. In 2004, Modi managed to become the vice-president of the Punjab Cricket Association, with Inderjit Singh Bindra as the President. He retained this position in the 2008 elections as well.

In 2003, Lalit Modi’s friend Vasundhara Raje became the Chief Minister of Rajasthan. They knew each other through a common school friend. The friend was Bina Kilachand and developed a close association. Following his unsuccessful stint in Himachal Pradesh, Modi set his sights on gaining control of the Rajasthan Cricket Association (RCA). It is another body under the BCCI. The RCA had been under the control of the Rungta business family. It is for more than thirty years, and previous attempts to remove them had failed. However, after Vasundhara Raje’s rise to power, Modi’s faction initiated fresh efforts to oust the Rungtas. To avoid being denied entry or facing opposition, Modi registered himself. He did it with the RCA as “Lalit Kumar” from the Nagore district’s cricket association, using only part of his full name.

In 2005, Lalit Modi utilized his connections with Vasundhara Raje. It was to push for the passing of the Rajasthan Sports Act. This act resulted in the removal of voting rights from the 66 individual members of the Rajasthan Cricket Association. It left only the 32 district associations as eligible voters. Taking advantage of this change, Modi contested. He won the RCA presidency by a margin of just one vote, defeating the incumbent Kishore Rungta.

As the President of RCA, Modi invested ₹200 million. It was to upgrade Jaipur’s Sawai Mansingh Stadium, transforming it into one of the finest cricket stadiums in the country. He also allocated ₹70 million to establish a state-of-the-art cricket academy. To boost revenue, Modi made several changes. He sold boundary-rope advertising spots at a rate of ₹1.5 million each, which was more than double the previous rate. He also put an end to the practice of giving away tickets for free and introduced the sale of corporate box seats at a price of ₹125,000 each.

Lalit Modi assumed the position of RCA President in 2005. Lalit Modi played a significant role. It was in assisting Sharad Pawar. Pawar is a leader of the Nationalist Congress Party. he did it to defeat Jagmohan Dalmiya in the BCCI Presidential elections. As a result of this victory, Modi was appointed as the vice president of the BCCI. Modi became heavily involved in the commercial aspects of the BCCI. Under his leadership, between 2005 and 2008, the BCCI’s revenues increased dramatically, reaching a remarkable $1 billion, which was seven times higher than before.

In 2008, Lalit Modi played a crucial role. It was in launching the Indian Premier League (IPL), centered around Twenty20 cricket. Due to clashes with the Indian general election, he orchestrated the IPL’s relocation. He relocated to South Africa in 2009. The decision was prompted by the uncertainty. It surrounded the security of the tournament. The Union Minister of Home Affairs, P. Chidambaram, couldn’t commit to ensuring its safety. Under Modi’s leadership, the IPL experienced immense growth. It became one of the world’s largest sports leagues, with a value exceeding $4 billion. His control over the league led to comparisons with renowned promoters like Don King in boxing and Bernie Ecclestone in Formula One.

During this time, Modi’s family and friends also benefitted from the IPL. His brother-in-law, Suresh Chellaram, who is married to Modi’s sister Kavita, owned a majority share in the Rajasthan Royals franchise. His step-daughter Karima’s husband, Gaurav Burman, was a stakeholder in Global Cricket Venture. It secured the digital, mobile, and internet rights of the IPL. Additionally, Gaurav’s brother, Mohit Burman, held a stake in Kings XI Punjab. Jay Mehta, one of the owners of Kolkata Knight Riders, has been a close childhood friend of Lalit Modi. The franchise prices for Rajasthan Royals, Kings XI Punjab, and Kolkata Knight Riders were closely similar. It led to speculation that Modi might have provided insider information to the owners.

Role in Rajasthan Politics

As a close associate of Chief Minister Vasundhara Raje, Lalit Modi gained significant influence. It was in Rajasthan. He earned the reputation of a “super chief minister.” While primarily living in Mumbai, he had an extensive network. It included prominent industrialists and Bollywood stars. He frequently visited Jaipur. He stayed at the Rambagh Palace, where ministers and civil servants sought his favors.

Modi ventured into the real estate business. It was through a company named Amer Heritage City Construction Pvt Ltd. He did it with his wife, Minal, as one of the directors. He used his influence to pressure local officials. He did it to acquire control of two havelis near the Amer Fort. Lalit disregarded the Archaeological Survey of India’s rules. His plan was to convert these havelis into a heritage resort. However, Mahant Shiv Prakash Bhattacharya, the 75-year-old owner of one of the Havelis, filed a court case to prevent Modi from taking over. During Raje’s tenure as Chief Minister, the Jaipur Development Authority introduced ad-hoc rules allowing the re-classification of agricultural land for non-agricultural purposes. This change was beneficial to several big builders from Delhi, and it was alleged that Lalit Modi was involved in presiding over this decision.

In 2007, Lalit Modi refused entry to IAS officer Mahendra Surana and IPS officer R.P. Srivastava to watch a match. It was done at Sawai Mansingh Stadium. He did it because he believed they were associated with the Rungta faction of RCA. When they arrived at the stadium, Modi tore their tickets, displaying his authority. During another cricket match, he slapped a constable. he did it for entering his box, which sparked protests from the city’s constabulary. During the 2008 Rajasthan elections, Modi’s power in Rajasthan politics increased. It became a significant issue. Chief Minister Vasundhara Raje lost the election. Ashok Gehlot of Congress succeeded her. He accused Modi of acting as an “extra-constitutional authority” during his campaign. After Raje’s defeat, Modi’s influence in Rajasthan diminished considerably. In January 2009, he faced legal trouble when an FIR was registered against him based on a complaint by a Samajwadi Party activist for forgery. In March 2009, his faction lost the RCA election, and the new leadership set up a committee to investigate alleged financial irregularities during his tenure.

Kochi Tuskers Kerala Controversy

In 2009, rumors of a rivalry between Lalit Modi and N. Srinivasan started to surface. During 2009-2010, Modi was in charge of the bidding process. It was for adding two new teams to the Indian Premier League (IPL). In December 2009, he introduced two new clauses in the invitation to tender (ITT). They were: bidders should have a net worth of at least US$1 billion and must provide a bank guarantee of US$100 million. Modi claimed that these clauses were to protect the BCCI’s interests. However, other BCCI board members accused Modi of manipulating the bids. He did it in favor of Adani Group and Videocon Group, as these new clauses would eliminate most other prospective bidders. After the ITT was issued on 22 February 2010, some bidders, including Sahara Group and Jagran Group, complained to BCCI President Shashank Manohar, alleging that they were deliberately excluded from the tendering process. As a result of receiving only two bids, the IPL made changes to the ITT. They removed the net worth clause and reduced the guarantee amount to US$10 million. In March 2010, a consortium of investors was led by Rendezvous Sports World (RSW). It successfully bid for the Kerala-based Kochi Tuskers Kerala franchise in the IPL. Indian National Congress leader and External Affairs Minister Shashi Tharoor played a role. It was in bringing together the various companies in this consortium. Both Modi and Tharoor initially stated that the minister had no financial stake in the franchise. He was merely supporting a team for his home state of Kerala. However, during the formal agreement signing between BCCI and the Kochi franchise on 11 April 2010, Modi inquired about the identities of the sweat equity holders in the team. He claimed that he received evasive replies. Later received a call from Tharoor, instructing him not to probe further. One of the sweat equity holders was Sunanda Pushkar. He was a close friend of Shashi Tharoor and later became his wife. Modi publicly disclosed the names of Kochi’s stakeholders via a tweet. He alleged that Pushkar’s shares were, in reality, a hidden gift to Tharoor. RSW threatened to sue Modi. It was for breaching the confidentiality agreement. They accused him of creating issues for Kochi because he wanted other bidders to win. Tharoor denied having any financial stake in the Kochi franchise. Tharoor claimed his role was limited to offering encouragement and expert advice to the RSW-led group of bidders. Tharoor argued that there was no reason for investors to bribe him as he had no influence over the auction. Sunanda Pushkar agreed to give up her stake in the Kochi franchise. Amid allegations of corruption, Shashi Tharoor had to resign as a minister. It was due to the controversy surrounding the Kochi franchise.

Expulsion from BCCI and Exile in London

On 16 April 2010, the Kochi franchise representatives filed a complaint with BCCI. They stated that Lalit Modi had threatened them to give up the franchise. Following this, a day after the IPL final on 24 April, BCCI suspended Modi on 22 charges. These charges included bypassing the governing council while making decisions, and not following proper procedures. The charges also included manipulating bids, favoring his friends for contracts, accepting kickbacks on a broadcast deal, granting franchises to his family members, and engaging in betting and money laundering. After his suspension, Modi relocated to London, where his wife Minal’s family lived.

In London, he hired Carter-Ruck. It was to fight against the charges brought by BCCI and sent out defamation notices in response. Additionally, he focused on expanding his family business in Europe. Modi believed that N Srinivasan, who later became the BCCI President, was the mastermind behind his ouster from the BCCI. In 2012, Modi alleged that Srinivasan had rigged the auction of Andrew Flintoff in 2009. He also supported Aditya Verma. He was the secretary of the Cricket Association of Bihar. He was fighting a separate legal battle against Srinivasan.

The Enforcement Directorate of the Indian government launched investigations into several cases against Lalit Modi and other BCCI officials. The cases included:

1. Contravening the provisions of the Foreign Exchange Management Act (FEMA) to the extent of ₹890 million, with charges against Lalit Modi, BCCI, and a few other officials. Modi blamed N Srinivasan, who was the treasurer of BCCI at the time.

2. Accepting a deposit of ₹200 million from UK-based Emerging Media (IPL), in contravention of FEMA. This charge was against Modi, BCCI, N Srinivasan, and Niranjan Shah.

3. Payment of ₹2.43 billion to Cricket South Africa for IPL 2009, in contravention of FEMA. This charge was against Modi, BCCI, Shashank Manohar, and other BCCI officials.

4. Payment of US$80 million to World Sports Group (WSG) by Multi Screen Media (MSM) as facilitation fees to withdraw from the telecast rights contract.

5. Routing of US$25 million from the MSM-WSG deal to illegal accounts of Lalit Modi, his associates, and political beneficiaries.

6. Allegations of telling selective bidders how much to bid during the first IPL team auction in 2008.

7. Using illegal money to buy a corporate jet through a Cayman Islands company.

8. Investment of ₹100 million by Modi’s wife in an Indian heritage hotel through a Mauritius-based company.

9. Other cases related to FEMA violations, including ownership of IPL franchisee, nature of foreign investments, and valuation and transfer of shares.

Lalit Modi defended himself. He stated that he was not solely responsible for the decisions taken during his time at BCCI. He argued that these decisions were made collectively by BCCI and its committees. He refused to return to India, claiming there was a threat to his life. The Mumbai Police supported his claim. They stated that he had been threatened by underworld gangsters. It included Dawood Ibrahim and Chhota Shakeel after he refused to pay extortion money. They had even sent hitmen to target Modi and his family while they were on vacation in Thailand. In 2010, Modi accused New Zealand cricketer Chris Cairns of being involved in match-fixing in 2008 through Twitter. However, in March 2012, Cairns sued Modi for making false statements and won damages of $950,000. In 2013, a BCCI committee, led by BCCI vice-president and BJP leader Arun Jaitley, along with Congress leader Jyotiraditya Scindia and Chirayu Amin, found Modi guilty on 8 charges, leading to his expulsion from BCCI.

Lalit Modi faced several charges, which included:

1. Rigging bids: He added two unfair clauses to the invitation to tender draft without informing the BCCI, favoring two specific bidders. Modi claimed that he had verbally informed BCCI President Shashank Manohar.

2. Threatening a representative of the Kochi Tuskers Kerala to give up their franchise rights or face sanctions.

3. Favoring World Sports Group (WSG) for TV rights.

4. Failing to disclose links to owners with interests in Internet rights. Gaurav Burman, his step-daughter’s husband, held a stake in Global Cricket Venture.

5. Misconduct of threatening to “expose certain individuals in the BCCI” via tweets.

6. Planning a rival cricket league with clubs in England.

7. Awarding theatrical rights to a company without the governing council’s approval.

8. Signing a free commercial time deal with an agency without the governing council’s approval.

As a consequence of these charges, BCCI banned Modi for life in 2013.

In December 2013, the Rajasthan Cricket Association (RCA) conducted fresh elections. The results were postponed multiple times. It was due to court cases filed by Kishore Rungta and the BCCI. On 6 May 2014, Lalit Modi was re-elected as the President of RCA while residing in London. However, the BCCI reacted by banning the RCA and setting up an ad hoc body to take over its administrative functions. Lalit Modi took legal action to contest BCCI’s decision. In March 2014, Modi accused the International Cricket Council (ICC) of withholding evidence of spot-fixing and match-fixing in the Champions League T20 cricket tournament. On 9 March 2015, a group led by Amin Pathan moved a no-confidence motion against Lalit Modi, who was then the President of RCA. The meeting required a minimum attendance of 23 for a quorum, but only 23 people attended, out of whom 17 voted against Modi. There was only one vote in his support, and five other votes were discarded as disputed. Twelve more of Modi’s supporters were denied entry to the meeting, claiming they were late by 10 minutes due to being stopped and attacked by a mob. Five more votes were discarded as disputed. As a result, Modi was ousted as the President by a controversial 17–1 vote. Pathan denied any role in the attack on Modi’s supporters and suggested that it might have been staged as an excuse for their anticipated defeat.

The Story of Modigate

In March 2010 Lalit Modi was in London. The Indian Government led by Congress revoked his passport. He challenged this decision in the Delhi High Court. In August 2014, the Delhi High Court restored Modi’s passport. In June 2015, British Member of Parliament Keith Vaz was reported to the parliamentary standards commissioner. It was for lobbying UK immigration officials on behalf of Lalit Modi. Vaz mentioned a recommendation from Sushma Swaraj. It was in his correspondence with the immigration officials. Modi’s wife Minal had been diagnosed with breast cancer. It was during 2008–09 and was undergoing treatment in Portugal. In 2014, Sushma Swaraj requested British authorities to provide assistance as per the law of the land. Based on her recommendation, the British authorities provided Modi with travel documents under the pretext of signing the consent for his wife’s operation, although such consent was not a requirement in Portugal.

On 25 August 2011, BJP leader Vasundhara Raje, who was an opposition leader at that time, signed a document. He was supporting Lalit Modi’s application to the British authorities. The application had a secrecy clause. It stated that it should not be revealed to the Indian authorities. But it was never presented to the British authorities. Raje claimed in her affidavit that Lalit Modi was a victim of a “political witch hunt” by the Congress. In 2013, a lawyer named Poonam Chand Bhandari filed a public interest litigation. He claimed that Lalit Modi had transferred millions of rupees to a company owned by Vasundhara Raje and her son Dushyant Singh. He did it using a shell company.

Dushyant Singh owns Niyant Heritage Hotels Private Limited (NHHPL), and Vasundhara Raje holds 3,280 shares in the company. In 2008, Lalit Modi’s company Anand Heritage Hotels Private Limited (AHHPL) provided an unsecured loan of ₹38 million to NHHPL. During 2008–09, AHHPL acquired 815 shares in NHHPL at a price of ₹96,000 per share, although the face value of each share was only ₹10. NHHPL, which previously had a paid-up capital of ₹1 million, received a total of ₹116.3 million from AHHPL. In June 2015, the Congress accused Vasundhara Raje of corruption, alleging that she had granted favors to Lalit Modi in exchange for money. The BJP argued that Raje had acted as a friend of Modi and not in her capacity as a political leader.

The controversy arising from these revelations was named “Modigate” by the Indian media. Opposition parties accused BJP leaders. It was of protecting Lalit Modi. He was wanted in multiple cases of financial irregularities in India. Lalit Modi’s lawyer, Mehmood Abdi, dismissed the controversy. He dismissed it as a matter of political vendetta. He claimed that Congress had been targeting him. It was since the Shashi Tharoor-Sunanda Pushkar controversy in 2010. Interpol, the international law enforcement agency, issued a light blue notice. It was for Modi’s arrest on Indian soil. However, in June 2015, despite the Interpol notice, Modi posted a picture. He did it on his Instagram account. It was with ex-Interpol Chief Ronald Noble during the El Clasico match in Barcelona. He referred to Noble as his “brother”. This caused significant media backlash in India, with questions raised about the connection between individuals with criminal reputations like Modi and international law enforcement. Ronald Noble, who headed Interpol from 2000 to 2014, denied any knowledge of Modi’s criminal activities, despite evidence indicating that Modi was on an Interpol watch list for some time.

One month later, a series of emails came to light. It revealed further ties between Modi, Ronald Noble, and his brother James. The emails were exchanged between 21 and 26 January 2014. They discussed a property worth $365,000 in the United States. Ronald Noble explained that his brother and Modi were involved in a joint business venture concerning the property. According to the deal, Modi would purchase the house, and James Noble would maintain it at his own expense. Once the property was sold, Modi and James Noble would split the profits equally. Ronald Noble stated that there was no conflict of interest because, at the time of the deal, he was not an Interpol employee, and Modi was not of interest to Interpol. As of 2015, Lalit Modi had not been convicted of any charges as part of the Enforcement Directorate’s investigation. The Enforcement Directorate of India had requested Interpol to issue a global warrant against Lalit Modi. However, in 2017, Interpol, which had been delaying the issuance, rejected this request.

Awards and Recognition

Lalit Modi received several awards and recognitions for his contributions to cricket administration and the Indian Premier League (IPL):

– On 9 April 2006, Mike Atherton called him arguably ‘the most important cricket administrator in the world today.’

– In March 2008, India Today magazine listed him among India’s 30 most powerful people.

– In July 2008, he was featured on the cover of Sports Pro and hailed as the Best Rain Maker (money maker) for any sports body globally.

– In the same month, Time magazine ranked him 16th in a list of the world’s best sports executives.

– On 25 September 2008, he was named ‘Brand Builder of the Year’ by Asia Brand Conference.

– On 26 September 2008, he received ‘The Consumer Award for Transforming Cricket in India’ from CNBC Awaaz.

– On 6 October 2008, he was named ‘The Most Innovative Business Leader in India’ by NDTV Profit.

– On 24 October 2008, he was awarded ‘Excellence in Innovation’ at the Frost & Sullivan Growth Excellence Awards.

– In October 2008, Business Week ranked him 19th in a list of 25 most powerful global sports figures.

– In August 2009, Forbes magazine described the IPL as ‘the world’s hottest sports league.’

– On 28 December 2009, Business Standard named him one of the ‘Game Changers of the Decade.’

– In February 2010, Sports Illustrated named him the 2nd Most Powerful Person in Indian Sports.