IPL Founder Lalit Modi Fights Legal Challenge In UK Court

A former Indian model-turned-investor, Gurpreet Gill Maag, has filed a legal challenge in the High Court in London seeking damages amounting to millions of dollars from Indian Premier League (IPL) founder Lalit Modi over alleged deceit and breach of contract. Judge Murray Rosen QC is presiding over the trial, which opened in the Chancery Division this week, to determine whether Modi made false representations to secure investment for a worldwide cancer treatment project dating back to April 2018.

Modi has denied the allegations through written evidence and is also expected to make oral submissions during the course of the trial to counter the claims.

According to court documents, Maag-owned special purpose vehicle (SPV) Quantum Care Ltd was pitched an attractive investment offer at a meeting at the Four Seasons Hotel in Dubai for Modi's specialist cancer treatment company Ion Care.

The court was told: “In summary, the Maags' (Gurpreet and husband Daniel Maag) evidence is that Mr Modi informed them during the meeting that a number of well-known and influential individuals had agreed to act as ‘patrons' of Ion Care, had agreed to participate in its management (as 'leaders') and had also made substantial financial commitments to the business, amounting to some USD 260 million.

"Further, the Maags say Mr Modi told them that a number of influential individuals and celebrities had agreed to act as ‘brand ambassadors' for Ion Care." Being socially acquainted with London-based Modi, Maag – domiciled in Singapore – was invited to invest in a first “friends and family round” of fundraising for USD 2 million. Her company Quantum Care went on to invest USD 1 million on November 14, 2018, and the remaining USD 1 million was not