Lalit Modi, former IPL boss, said on Thursday that the Supreme Court-mandated mediation to resolve a long pending property dispute in the family had failed and urged the top court that the case be adjudicated upon here.
A bench, headed by Chief Justice NV Ramana, asked senior lawyers including Harish Salve and AM Singhvi, appearing for UK-based Lalit Modi, and Kapil Sibal and Mukul Rohatgi, for his mother Bina Modi, to explore the possibility of resolution of the dispute again and intimate it.
On December 16, last year, the top court had taken the consent of rival parties to the dispute and had appointed former apex court judges – Justices Vikramjit Sen and Kurian Joseph – to mediate and help the Modis find an amicable solution.
The bench, also comprising justices Krishna Murari and Hima Kohli, was hearing Lalit Modi’s appeal against the judgement of a division bench of the Delhi high court that the anti-arbitration injunction lawsuit filed by Bina Modi, wife of late industrialist KK Modi, against her son was maintainable.
Salve said "I have a report from mediators. There is a report saying that the mediation has failed. Let us get on with the matter."
{{/usCountry}}Salve said "I have a report from mediators. There is a report saying that the mediation has failed. Let us get on with the matter."
{{/usCountry}}Sibal then raised preliminary objections saying "there is a trust and the dispute relates to trust. It has been held in several judgements that trust disputes cannot be decided through arbitrations." Rohatgi also objected to the filing of the appeal by Modi through his power of attorney.
"These relate to the merits of the cases. We will deal with these as well," the bench said.
After hearing brief submissions, the bench adjourned the matter to next week and asked the lawyers to take instructions on solving the dispute amicably.
KK Modi died on November 2, 2019, after which the dispute emerged amongst the trustees.
Lalit Modi contended that after the demise of his father, in view of the lack of unanimity amongst the trustees regarding the 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.
His mother and the two siblings contended that on a true construction of the trust deed, no such sale has been triggered.
(With agency inputs)