Not only was Modena still alive, he was watching Lin knowing that when Ulla returned she would seek out Lin, Karla, Lisa or Vikram. He checked every flight for her.

When you first read this, did you think she would return to him? Why?

When I first read this section, I thought it was over between them because their relationship seemed to be based on either looks and/or money.

However, they both started out wealthy, got messed up and ended up together in India. So the possibility of sticking together is also strong.

Yup they have shared life experiences and that can make a difference!

Okay, I just reread this part, and I have to say I thought Modena was mostly nuts at that point. The trauma of being sliced up by is friend and then watching Ulla walk away from him and then surviving the ordeal ~ it all was too much. He lost his mind and started living in a fantasy land.
So, no, I didn't think Ulla would ever come back, and if she did, it wouldn't be for him.
It was interesting, though, that Lin's conversation with Modena caused him to see his own life with more clarity and self-acceptance. The whole thing about Modena not blaming Ulla because he could see the part he played in bringing about her betrayal didn't ring true for me, but it did for Lin...and it's his story afterall! :D For Lin, the meeting with Modena was a pivotal encounter that brought him a lot of healing.
However, I saw Modena as a tragic, pathetic figure who was holding on to shreds of sanity by fabricating a romantic scenario whereby Ulla ultimately comes back and they live happily ever after. Said fantasy was his very fragile lifeline.

Since she came back to him, would you consider them to have 'true love' ?
What is point to the Ulla/Modena story?

Well, my short answer would be "insanity rules"!! :lol:
Since I didn't trust Ulla from the beginning, it's hard for me to see her return as anything other than, at best, motivated by guilt, and at worst, the unbridled ability of the superficial and selfish to be blissfully unaware of the damage they've caused others and to show up again, wanting a fresh start. To me, that fresh start would mean another chance for Ulla to mess with Modena's love.
The point of the story? Some people really are crazy in love - LOL!

LOL Yes I guess there are crazy in love people.

OK...here's that question...could the movie do without these characters? Ulla and Modena? OR could it do without their "relationship"?

I think Ulla, Modena and Maurizio could have their own movie, actually. A project someone like Quentin Tarantino might like to take on. B)
But for Shantaram, I think they all should be cut (pun intended). There are enough other interesting characters for Lin to play against and who move the story along, showing the various styles of life and struggle and love I think GDR is trying to convey.