Lalit Modi as prepares for a long drawn battle with the Board of Control for Cricket in India (BCCI), his father KK Modi says he has chalked out a “special” succession plan for the group—one that involves the trust and his three children, Lalit, Samir and Charu, as equal beneficiaries.
In an exclusive interview with CNBC-TV18, Modi says all businesses are in a family trust chaired by him, which will remain the case till he is alive, post which, there is a provision for electing a CEO to run the business. “The CEO can either be from the family or an outsider. If no consensus is reached upon, then all businesses will be sold.”The sale, he says will be administered by a chartered accountancy firm and a merchant bank. Further he adds that the administrations for sale appointed cannot be changed.
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