Lalit Modi family dispute: SC appoints two of its former judges as mediators

Tribune News Service

New Delhi, December 16

In an attempt to amicably settle a long-pending property dispute between former IPL head Lalit Modi and his mother Bina Modi—wife of late industrialist KK Modi, the Supreme Court on Thursday appointed two of its former judges as mediators.

A three-judge Bench led by Chief Justice of India NV Ramana – which had on December 7 suggested mediation—approved the names of former top court judges—Justice Vikramjit Sen and Justice Kurian Joseph as mediators to resolve the family dispute.

“Ultimately both parties have agreed to mediation under Judges Vikramjit Sen and Justice Kurian Joseph. We suggest parties use facilities of the Mediation Centre at Hyderabad. They can request for online mediation. We direct parties to maintain confidentiality, and request mediators to take undertakings. Mediation to Expedite proceedings preferably within a period of three months,” the Bench said.

The Bench was hearing an appeal filed by Lalit Modi challenging a verdict of the Delhi High Court which said that the anti-arbitration injunction lawsuit filed by Bina Modi against her son was maintainable. Bina Modi had earlier sought to restrain the arbitration proceedings initiated by Lalit Modi in Singapore over the dispute.

KK Modi died on November 2, 2019 after which the dispute emerged amongst the trustees of the family trust.

As per the case, the trust deed was executed at London by KK Modi as settlor/managing trustee and Bina, Lalit, Charu and Samir as trustees, and in pursuance to oral family settlement recorded between them on February 10, 2006.

Lalit Modi contended that after the demise of his father, in view of lack of unanimity amongst the trustees regarding sale of trust assets, a sale of all assets of the trust has been triggered and distribution to beneficiaries has to occur within one year thereof, the single judge had noted.

On the other hand, his mother and the two siblings contended that on a true construction of the trust deed, no such sale has been triggered.