A London court had in February passed the bankruptcy order that Modi owed unpaid bills of 65,000 pounds (Rs 53 lakh approx) to a private security firm.
Reports said that Modi owed Page Group, an international securities and risk assessment company which has its head office here, the unpaid bills for fees for services provided in 2010.
"Lalit Modi's position on a bankruptcy order he maintained 'should never have been made' has been vindicated after it was annulled in the High Court in London. The order was originally made following an application by an alleged creditor," according to a communication by Modi's spokesman.
The same message was posted by Modi himself on his Twitter page.
"Mr Modi made an application for annulment on the grounds that the order should not have been made and at 11:15 am on Wednesday, Mr. Justice Newey granted the application," the spokesman said.
"This was an order that should never have been granted in the first place, so I'm delighted it has been dismissed", Modi said in his reaction. PTI PDS MRM
