Modi was declared bankrupt in a London court over unpaid bills of 65,000 pounds (Rs 53 lakh approx) to the Page Group, a private security firm, for services provided in 2010.
An ex-parte order was obtained by the Page Group.
"However, the said ex parte order was sought to be annulled by Lalit Modi on the grounds that firstly, that there was no service of any demand notice or petition of the court on him. Secondly that the said claim was disputed and thirdly it did not qualify as liquidated debt and consequently for such a claim bankruptcy provisions can not be invoked," Modi's General Counsel Mehmood Abdi said through a press release.
After the judgment, Modi said," This was an order that should never have been granted in the first place, so I'm delighted it has been dismissed."
The bankruptcy order was passed in February.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app