BINA MODI
Glass Lewis recommends against reappointment of Bina Modi as MD of Godfrey Phillips
US-based proxy advisory firm Glass Lewis has recommended that shareholders of Godfrey Phillips India vote "against" the special resolution to reappoint Bina Modi as Managing Director, citing concerns about her remuneration and lack of performance conditions. Glass Lewis supports Samir Modi's continued board presence despite ongoing family and boardroom conflicts.
US advisory co votes to oust Bina Modi from board of Godfrey Phillips, backs son Samir
Glass Lewis also advised shareholders to vote against Samir Modi's ouster from the company's board, according to a report by the firm, seen by ET. Bina Modi, 79, is the mother of Samir Modi. Her reappointment proposal will require the approval of 75% of shareholders because of her age. She is entitled to get 5% of the company's net profits for each financial year as commission.
Samir Modi removed from board of Godfrey Phillips amid family feud
Samir Modi has been ousted from Godfrey Phillips India's board amidst a family inheritance dispute. His earlier court-granted protection against removal was revoked. Charu Modi has been appointed to the board in his place. The removal occurred against the backdrop of cases Samir filed against board members, alleging assault and conspiracy.
Bina Modi should recommend Samir Modi’s appointment to Godfrey Phillips Board, says Delhi court
A south Delhi court mandated that Bina Modi must recommend Samir Modi for Godfrey Phillips India's board, though the nomination and remuneration committee will make the final decision. This comes amid Samir's claims of a conspiracy against him by his mother and other directors. The court also permitted the company's planned exit from the 24/7 retail business.
Bina Modi withdraws contempt petition against sons Lalit and Samir Modi
Godfrey Phillips director Bina Modi has withdrew her contempt petition against her sons, Lalit and Samir Modi, in the Supreme Court. The court ruled that Bina is not pressuring contempt against her son's allegations of assaulting him during a board meeting. Bina alleged that her sons repeatedly published contemptuous posts and interviews, containing patent falsities, in relation to a family dispute.
Modi family feud: Lalit Bhasin refutes Samir Modi's charges
These are the first public comments by any of the company's independent directors amid an ongoing shareholder fight in which family members have taken sides.
- Go To Page 1
Godfrey Phillips succession battle: Bina Modi refutes assault allegations by son Samir
Godfrey Phillips director Bina Modi denies assaulting her son Samir during a board meeting. The family dispute between the Modis continues with allegations and counterclaims. Legal proceedings are ongoing as both parties present their sides in court.
Police affirm assault on Samir Modi by mom's PSO, but find no conspiracy
Delhi police’s status report affirmed Samir Modi, GPI’s executive director, was assaulted by Bina Modi’s PSO, with no evidence of criminal intimidation or conspiracy by Bina Modi or Lalit Bhasin. PSO Surendra Prasad denied receiving written orders. Bina Modi is a director and Bhasin an independent director at GPI. GPI's board did not respond.
Charu Modi joins board of Godfrey Phillips amidst shareholder fight
Charu Modi has been appointed to the board of Godfrey Phillips India amid an ongoing inheritance dispute within the KK Modi group. Charu, one of the late KK Modi's three children, has been associated with the group's education ventures but will now take a more active role in the company. She aligns with her mother, Bina Modi, who is in a legal battle with her sons, Lalit and Samir Modi, over the family's inheritance and the dissolution of a family trust established in 2014.
Samir, Lalit Modi question mother's use of voting rights
Samir and Lalit Modi have raised concerns over mother Bina Modi's potential influence through shareholder voting rights at Godfrey Phillips India Ltd due to her control over KK Modi Investment and Financial Services,. This has created a conflict over her reappointment to the company's board amidst a bitter family inheritance dispute. The brothers suspect their mother of misusing her voting rights, leading to legal actions and a looming decision at the upcoming annual general meeting.
Samir Modi assault case: Court seeks probe updates from cops
The younger son of KK Modi and Bina Modi had lodged a FIR with Delhi Police on Friday, accusing his mother, her personal security officer (PSO) and Godfrey Phillips directors of causing him "grievous hurt". Subsequently through his counsel advocate Vijay Aggarwal had moved the Saket district court seeking for monitoring of the investigation, preservation of the CCTV footage and calls records of the accused persons and seizure of their mobile phones.
Samir Modi accuses Godfrey Board of assault complicity
A court in New Delhi has directed the personal appearance of a Delhi Police investigating officer regarding the preservation of CCTV footage linked to the alleged assault on Samir Modi, an executive director of Godfrey Philips India, during a board meeting. The FIR alleges grievous hurt and wrongful restraint under IPC sections 325 and 341.
Delhi HC seeks response from Bina Modi, other family branches
A Division Bench led by Justice Neena Bansal Krishna also issued notice to Bina’s children - Charu, Samir and Lalit Modi, besides various companies -Rajputana Developers, Kaushambi Industries, KK Modi Investment & Financial Services, Modicare Ltd and Premium Tradelink.
Godfrey Phillips executive director Samir Modi alleges threat from mother, seeks police protection
Samir Modi seeks protection from Delhi Police amid estate distribution feud with mother, alleging threats from Bina Modi and Lalit Bhasin. He heads businesses like Colorbar Cosmetics and Modicare. Legal battle in the Supreme Court over trust deed.
BPCL adds fuel to capex fire, hires I-bank for Rs 31,000 crore loan
Bharat Petroleum Corp Ltd has mandated SBI Capital Markets to arrange a Rs 31,000 crore loan for the planned capital expenditure at its Bina refinery complex in Madhya Pradesh.
The man who wanted to challenge Modi but lost the battle even before it began
Recently, the comedian made headlines with his announcement to contest against Modi from Varanasi as an Independent candidate.
Feud in Godfrey Phillips: Samir Modi accuses mother Bina of staging assault on him
A Godfrey Phillips spokesperson rejected the accusation. "These allegations are entirely false and atrocious," the person said. "The alleged episode occurred outside the board room when the audit committee meeting was in progress at about 12 noon. This has been captured on in-house CCTV cameras, which can be provided to the relevant investigating authorities."
'Visited Lahore without visa, checked their nuke power': PM Modi takes jibe at Mani Aiyar's advice to respect powerful Pakistan
Prime Minister Narendra Modi responded to Congress's Mani Shankar Ayiar's remark that India should respect Pakistan owing to its nuclear bomb. In an interview, Modi mentioned his personal visit to Lahore in 2015, stating that he checked Pakistan's power firsthand. He also addressed allegations of India's involvement in targeted assassinations in Pakistan and expressed confusion over why some in India are critical of his stance.
Terms of inheritance cast in stone in family trust deed: Samir Modi on father KK Modi's legacy
Samir Modi asserts that the terms of his father's ₹11,000-crore legacy, governed by a family trust deed, are non-negotiable. He aims to preserve the family's flagship company, Godfrey Phillips, within the family, proposing a buyout option to resolve the dispute. Despite legal battles with his mother over inheritance distribution, Samir Modi remains committed to advancing the family business, envisioning global expansion for Colorbar Cosmetics and other ventures.
Family feud over Rs 11,000 crore Godfrey Phillips inheritance: Samir Modi challenges mother Bina Modi in SC
Samir Modi, son of late KK Modi, has taken legal action against his mother, Bina Modi, accusing her of mishandling the family's Rs 11,000 crore inheritance. The dispute involves the distribution of the Godfrey Phillips stake and other Modi group shares. Samir, previously aligned with his mother, now supports his brother Lalit in seeking immediate implementation of the trust deed. The family had initially disagreed on dissolving the trust, leading to legal battles initiated by Lalit Modi.
Uttarakhand CM Dhami expresses confidence in BJP's victory in Madhya Pradesh polls
Uttarakhand Chief Minister Pushkar Singh Dhami expressed confidence in the Bharatiya Janata Party's victory in the upcoming Assembly election in Madhya Pradesh. He stated that the large number of people attending the "Jan Ashirwad Yatra" demonstrates the party's strength in the state. Dhami praised the fast-paced development in the state and urged people to vote for the BJP.
INDIA alliance wants to destroy Sanatan Dharma, push country into 1,000 years' slavery: PM Modi
Prime Minister Narendra Modi criticized the opposition's INDIA grouping, calling them "arrogant" and accusing them of wanting to destroy Sanatan Dharma and enslave the country. He credited the success of the G-20 summit to the people of India, saying it has boosted their self-confidence. Modi laid the foundation stone for a petrochemicals complex and ten other industrial projects in Madhya Pradesh.
PM Modi in Madhya Pradesh, Chhattisgarh on Thursday to launch development projects
The state-of-the-art Bina refinery of the Bharat Petroleum Corporation Limited, which will be developed at a cost of about Rs 49,000 crore, will produce about 1,200 KTPA (Kilo-Tonnes Per Annum) of ethylene and propylene, vital component for various sectors like textiles, packaging and pharma among others.
PM Narendra Modi to lay foundation stone of Rs 49,000 cr petrochemicals complex in Bina
BPCL plans to expand Bina refinery capacity from 7.8 million tonnes per annum to 11 million tonnes. The project would also produce more than 2200 kiloton petrochemical products. Meanwhile, the government of Madhya Pradesh is supporting the project by providing fiscal incentives under State-GST refund, interest-free loan and interest subsidy assistance, concessional power and exemption of stamp duty.
Prime Minister Narendra Modi to lay foundation stone for Rs 50,000 crore expansion project of BPCL refinery in MP's Sagar
Prime Minister Narendra Modi will lay the foundation stone of Bina Refinery's expansion project entailing Rs 50,000 crore investment as well as that of new units at Hadkal village, some 70 kilometres from the district headquarters, he said. The Bharat Petroleum Corporation Limited's Bina Refinery was inaugurated by then prime minister Manmohan Singh in May 2011.
Supreme Court asks Lalit Modi to tender unconditional apology for his remarks against judiciary
A bench of Justices MR Shah and CT Ravikumar slammed Modi for his remarks and warned him that any repeat of such conduct will be viewed "very seriously". The bench observed that Modi is not above the law and the institution and also directed him to file an affidavit before it tenders an apology.
Former IPL Chairman Lalit Modi names his son successor beneficiary in KK Modi Family Trust
However, he clarified that "this does not affect my status as a Trustee of the KKMFT, nor would it affect my rights as a member of the KKM family and any claim made for the family expenses under clause 6.1.5 of the KKMFT shall remain unaffected by my gifting my beneficial interest in favour of my son." In the social media post, Modi said,"In light of what I have gone thru (sic) it's time to retire and move on. And groom my kids. I am handling them all."
SC appoints Justice (retd) R V Raveendran to mediate property dispute between Lalit Modi and mother
The apex court, on December 16 last year, had taken the consent of rival parties to the family property dispute and had appointed former apex court judges - Justices Vikramjit Sen and Kurian Joseph - to mediate and help the Modis to find an amicable solution. The top court was hearing Lalit Modi's appeal against the judgement of a division bench of the Delhi High Court that the anti-arbitration injunction lawsuit filed by Bina Modi, wife of late industrialist K K Modi, against her son is maintainable.
Godfrey Phillips India Q1 net profit rises 16.6 pc to Rs 131.05 cr
Godfrey Phillips India's revenue from operations was up 33.49 per cent to Rs 981.83 crore during the quarter under review against Rs 735.49 crore in the corresponding period of the previous fiscal.
Load More
