Changing colours of succession: India Inc is learning to deal with GenNext

The key issues to be ironed out in succession are an unambiguous allocation of properties among legal heirs and the timeline for vesting of these properties

The police complaint filed by Samir Modi against his mother, Bina Modi, for allegedly to casting  him off inheritance rights to the K K Modi fortune, highlights the perilous path family-run businesses must tread towards division of assets.
 

The high-stakes battle within the K K Modi family centres around the distribution of inheritance involving the listed tobacco firm, Godfrey Phillips, which sells the Marlboro brand of cigarettes, and shares in group companies operating retail, cosmetics, and direct selling businesses.
 

The family dispute came to the fore after the demise of patriarch K K Modi in November 2019.
 

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