Lalit Modi declared bankrupt in London court

Lalit Modi declared bankrupt in London court

By: || Updated: 01 Jan 1970 12:00 AM


London:  Former IPL
commissioner Lalit Modi has been declared bankrupt in a London court over
unpaid bills of 65,000 pounds (Rs 53 lakh approx) owed to a private
security firm.





According to a report in 'The Telegraph' daily, the order was passed last
month and comes at a time when Modi is awaiting the judgment from a libel
trial with the retired New Zealand all-rounder Chris Cairns. Modi owes the
Page Group, an international securities and risk assessment company, fees
for services provided in 2010.

Modi in his defence, said "Until
the order was served, I was completely unaware of any outstanding monies.
I have not seen any previous demands but since it came to my attention,
I've even offered to lodge the sum being claimed with the court pending
clarity. But for some reason, that was refused, by the company concerned."
The former BCCI vice-president and cricket entrepreneur, who now lives in
London, feels that it is an attempt to gain cheap publicity by the
securities firm.





Stuart Page, the company's chairman, said: "It's unfortunate that we have
come to this situation but Modi has given us no other option. We gave Modi
a number of security services in relation to threats made against him and
his family. We submitted a number of invoices which were not paid."




Page further stated: "(Our) attempts to reach a settlement with Modi were
to no avail and we were forced to take the action we have taken." A
hearing will be held in London shortly when Modi will attempt to have the
order set aside.




"It is a ridiculous waste of everyone's time and I can only assume it is
being done in an attempt to gain some sort of publicity at my expense. Any
suggestion that this order means I am unable to pay is equally
ridiculous," Modi said.




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