Vasundhara Raje, Modi once held considerable political clout in Rajasthan. As a scion of a leading business family, Modi is the President and Managing Director of Modi Enterprises and the Executive Director of Godfrey Phillips India. Lalit Modi was born in Delhi in 1963, into one of How Do Ipl Franchise Owners Make Money’s leading business families, the elder son of Krishan Kumar Modi by his wife Bina Modi. He has an elder sister, Charu Modi Bhartia, and a younger brother, Samir Modi. Lalit Modi joined Bishop Cotton School in Shimla, in 1971.
His family later moved him to St Joseph’s College, Nainital, because of a kidnapping threat. Between 1983 and 1986, Modi studied Electrical Engineering and Business Administration in the United States. He attended Pace University in New York for two years, and then Duke University in North Carolina for one year. He didn’t graduate from either of these institutions. In 1986, Modi came back to Delhi, and joined the family business.
He served as the President of International Tobacco Company Limited from 1987 to 1991. In Delhi, Modi started courting the much older Minal Sagrani who was the daughter of Nigeria-based Sindhi Hindu businessman, Pesu Aswani, and the wife of another Nigeria-based Sindhi businessman, Jack Sagrani. His family initially opposed the marriage, as Minal was a recently divorced mother and nine years elder to him. MEN started as a 10-year joint venture with Walt Disney Pictures, to broadcast some of Disney’s content in India, including Fashion TV. Later, Modi became the President and Managing Director of Modi Enterprises, an industrial conglomerate run by his family. In 2002, Modi launched an online lottery business in Kerala called Sixo.
In the USA, Modi had been impressed by the huge revenues of the American sports leagues. In 1995, he pitched his idea for a new 50-over tournament to BCCI. However, the BCCI did not take the proposal seriously. Modi then resolved to join the Board. However, his attempt to gain control of the Association failed, and he was forced to leave the Association by the Chief Minister of the state. In 2004, Modi was elected as the Vice-President of the Punjab Cricket Association, under the President Inderjit Singh Bindra. In 2003, Modi’s friend Vasundhara Raje was elected as the Chief Minister of Rajasthan.
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Modi knew Raje through a common school friend Bina Kilachand, and had become one of the Chief Minister’s closest associates. The RCA had been controlled by the Rungta business family for over three decades. In 2005, Modi used his connections with Raje to get the Rajasthan Sports Act passed. This ordinance took away voting rights from the 66 individual members, leaving only the 32 district associations as voters. As a result, Modi was elected as the President of RCA, defeating the incumbent Kishore Rungta by just 1 vote. 200 million to renovate Jaipur’s Sawai Mansingh Stadium, making it one of the best cricket stadiums in the country.
70 million to build a state-of-the-art cricket academy. 5 million per spot, more than double the previous rate. After becoming the RCA President in 2005, Modi helped the Nationalist Congress Party leader Sharad Pawar defeat Jagmohan Dalmiya in the BCCI Presidential elections. Lalit Modi was heavily involved in the commercial side of the BCCI. Modi’s family and friends also profited from IPL. His step-daughter Karima’s husband Gaurav Burman was a stakeholder in Global Cricket Venture, which won the digital, mobile and internet rights of the IPL.
As a close associate of the Chief Minister Vasundhara Raje, Lalit Modi became a powerful figure in Rajasthan, and came to be known as a “super chief minister”. He continued to live in Mumbai, where his network had expanded to include leading industrialists and Bollywood stars. He visited Jaipur frequently, and stayed at the Rambagh Palace, where ministers and civil servants would queue up to meet him and ask for favours. Modi entered the real estate business with a company called Amer Heritage City Construction Pvt Ltd, where his wife, Minal, served as a director. In 2007, Modi refused to allow the IAS officer Mahendra Surana watch a match at the Sawai Mansingh Stadium, because he believed Suarana to be an associate of the Rungta faction of RCA. He repeated this act with the IPS officer R.
Modi’s increasing power in Rajasthan politics became a key issue in the 2008 Rajasthan elections, which Raje lost. Ashok Gehlot of Congress, who succeeded Raje as the Chief Minister, accused Modi of acting as an “extra-constitutional authority” during his campaign. After Raje was voted out of power, Modi’s power in Rajasthan reduced considerably. In January 2009, he had spent several hours at a police station after an FIR was registered on the basis of a complaint by a Samajwadi Party activist for forgery. In March 2009, his faction lost the RCA election.