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Industrialist K.N. Modi passes away

Special Correspondent

NEW DELHI: Noted industrialist K.N. Modi, who headed one of the divided groups of Modi, died on Friday night after a protracted cancer ailment. He was 84.

His mortal remains were consigned to the flames on Saturday at Modi Bhawan in Modi Nagar.

Modi is survived by his wife, three sons and two daughters. He was the brother of late Rai Bahadur Gujar Mal Modi, who founded the Modi Group.

Till the Eighties, Modis were a rapidly growing group with interests ranging from sponge iron to chemicals. However, the group now hardly figures among the top industrial houses after the split.

Modi along with his brother, Gujarmal, established Modi Nagar in 1933 with a sugar mill and thereafter over two dozen industries and educational institutes were established in the town.

While his eldest son M.K. Modi heads Modipon Fibre, the flagship company of the K.N. Modi Group, his other son Y.K. Modi was FICCI president until recently when O.S. Kanwar took over.

K.N. Modi himself was the president of the apex chamber in 1981-82. He was also the Chairman and Managing Director of Modi Alkalies and Chemicals Ltd that was declared sick by the Board for Industrial and Financial Reconstruction in 2002.

Uttar Pradesh Chief Minister Mulayam Singh Yadav, Uttranchal Chief Minister N.D. Tiwari, the former Uttar Pradesh Chief Ministers, Kalyan Singh and Rajnath Singh, were among those who have condoled Modi's death.

FICCI chief Kawar, in his message, expressed deep shock at Mr. Modi's death. Describing him as an innovator and entrepreneur par excellence, he said: "his vision was the beacon light that guided subsequent generation of industrialists" in their quest for business excellence.

``Mr. Modi's philanthropy is legion. From higher technical education to pharmaceutical research, and medical care and research, he carried on with the lofty ideals of his brother Rai Bahadur Gujar Mal Modi and led the Modi business empire with elan.'' Mr. Kanwar said.

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