The court directed Bina Modi to file an affidavit on the remuneration and benefits she received as MD of the company
Samir Modi had filed an FIR with the Delhi Police in June, accusing his mother, her personal security officer, and Godfrey Phillips directors of causing him 'grievous hurt'
The value also includes Phillip Morris India, the marketing arm in which GPI, along with the family, owns 50 per cent. It has declared a dividend of Rs 706 crore
One member of each branch will have a permanent position in all the companies till they have been sold. My father wanted equality and fairness among the four of us, Samir said
Godfrey Phillips family inheritance feud: Samir Modi has accused his mother, Bina Modi, her personal security officer, and others of causing him 'grievous hurt'
Former IPL Chairman Lalit Modi on Sunday announced his son Ruchir Modi as his successor beneficiary from his family's side in the KK Modi Family Trust with immediate effect. In a social media post, Modi who has been involved in a legal tussle against his mother Bina Modi and sister Charu over a property dispute in the family, also announced his son as the head of his branch of the family. "The present litigation with my mother and sister, is tedious, strenuous and has gone on for long, and even though there have been several rounds of discussions for settlement, there is no end in sight. It has caused and continues to cause me immense distress," he said in a statement shared on Instagram. Modi, who had earlier shared about his health condition due to COVID-19 infection and pneumonia, requiring external oxygen support in London having been flown from Mexico City, said he had discussed the matter of appointing his son as his successor with daughter Aliya. "I have discussed this with
As business families grow larger with the addition of sons and daughters and sons-in-law and daughters-in-law, they drift away and live in their own separate houses
Writes to NSE, BSE again, questioning appointment of Bina Modi as firm's president and MD
According to sources, the report of the independent directors on the board has not been circulated among the members ahead of Tuesday's meeting
Ruchir points out that his grandmother Bina still runs the company as the president and managing director despite her ouster by public shareholders.
The family members are currently involved in a bitter battle on the future of the Rs 10,000-crore empire
Modi expects the group's revenue to grow more than 20% a year in the near future