In Short:
Samir Modi, Exec. Director of Godfrey Phillips India, got relief from Delhi Court in a dispute with Chairperson, Bina Modi. Court directed parties to maintain “status quo” till next hearing, preventing Samir’s removal from the Board and discontinuation of retail chain – 24Seven. Dispute centers around distribution of late KK Modi’s ₹11,000 crore inheritance. Next hearing scheduled for August 2.
Family Feud at Godfrey Phillips India: Delhi Court Grants Relief to Samir Modi
Let’s dive into the family drama unfolding at Godfrey Phillips India involving Samir Modi and his mother, Bina Modi. In a recent development, a Delhi Court in Saket has stepped in to provide some much-needed relief to Samir Modi in the midst of an ongoing dispute with his mother, who happens to be the Chairperson of the company.
Court’s Decision
The court has directed both parties to maintain the “status quo” until the upcoming hearing, which means that Samir Modi cannot be removed from the Board of Directors, and the retail chain under the brand 24Seven will not be discontinued for now.
Dispute Details
The root of the problem lies in the distribution of the late KK Modi’s massive ₹11,000 crore inheritance, sparking a legal battle between the mother and son.
Legal Proceedings
Samir Modi had filed a petition seeking protection against his removal from the Board of Directors and the possible shutdown of the retail business. The court, recognizing the potential “irreparable loss” to Samir Modi, has instructed the parties to maintain the current state of affairs until the next hearing scheduled for August 2.
Escalation of Dispute
The feud escalated when Samir Modi accused his mother, Bina Modi, of orchestrating an assault on him during a board meeting. In response, the PSO (Personal Security Officer) involved in the incident also filed a complaint against Samir Modi.
Upcoming Hearings
As the legal battle unfolds, the Metropolitan Magistrate Court in Saket will be examining the PSO’s plea against Samir Modi on July 12, calling for an action taken report (ATR) regarding the incident. The PSO is seeking a non-cognizable report (NCR) and a thorough investigation into the allegations.
