SAMIR MODI
![Godfrey Phillips has done well since Bina Modi took over: CEO Sharad Aggarwal](https://img.etimg.com/thumb/msid-112904918,width-100,height-75,resizemode-4/industry/cons-products/tobacco/godfrey-phillips-has-done-well-since-bina-modi-took-over-ceo-sharad-aggarwal.jpg)
Godfrey Phillips has done well since Bina Modi took over: CEO Sharad Aggarwal
Godfrey Phillips CEO Sharad Aggarwal has expressed confidence in chairperson Bina Modi's leadership, under whom the company has increased its market share despite stagnant consumption. Aggarwal also downplayed the ongoing shareholder dispute involving Bina Modi's son, stating it would not impact the company's operations. The company's stock has surged over 150% despite these conflicts.
![Glass Lewis recommends against reappointment of Bina Modi as MD of Godfrey Phillips](https://img.etimg.com/thumb/msid-112782813,width-100,height-75,resizemode-4/industry/cons-products/tobacco/glass-lewis-recommends-against-reappointment-of-bina-modi-as-md-of-godfrey-phillips.jpg)
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](https://img.etimg.com/thumb/msid-112748319,width-100,height-75,resizemode-4/news/company/corporate-trends/us-advisory-co-votes-to-oust-bina-modi-from-board-of-godfrey-phillips-backs-son-samir.jpg)
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](https://img.etimg.com/thumb/msid-112355398,width-100,height-75,resizemode-4/news/company/corporate-trends/samir-modi-removed-from-board-of-godfrey-phillips-amid-family-feud.jpg)
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](https://img.etimg.com/thumb/msid-112161027,width-100,height-75,resizemode-4/news/india/bina-modi-should-recommend-samir-modis-appointment-to-godfrey-phillips-board-says-delhi-court.jpg)
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.
![Budget stocks to buy: Keep these 30 PSU and other Modi stocks on your watchlist](https://img.etimg.com/thumb/msid-111916193,width-100,height-75,resizemode-4/markets/stocks/news/budget-stocks-to-buy-keep-these-30-psu-and-other-modi-stocks-on-your-watchlist.jpg)
Budget stocks to buy: Keep these 30 PSU and other Modi stocks on your watchlist
Sitharaman’s Budget focuses on capex sectors, defense indigenisation, renewable energy, and rail modernization. Sensex saw 5.7% average post-Budget returns. Best and worst Budget performances in 2021 and 2020. Strategic debt, private sector gains, and picks like UltraTech and NTPC are expected. Samir Arora sees continuity; Viability Gap Funding, and Infrastructure loan push capex.
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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.
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.
Overall Budget will be good & meet market expectations. Samir Arora explains why
The market should not be disappointed with any direct-to-market taxes, which is primarily true with capital gains tax. There are indications that SEBI, FinMin and RBI are uncomfortable with the extent of speculation or derivatives and futures and options and that they will discourage it, says Samir Arora, founder, Helios Capital.
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.
Indian diaspora in Austria happy at PM Narendra Modi's upcoming visit
PM Modi's visit delights Austria's Indian diaspora, the first in 40 years, enhancing tourism and cultural ties. Post-Russia, greeted by Denis Manturov, he'll meet Austrian leaders Alexander Van der Bellen and Karl Nehammer to discuss new areas and investment opportunities. Professionals, around 30,000 to 35,000, including Gaurav and Amarjeet, see it positively.
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.
ETMarkets Smart Talk: We could see tweak in corporate & personal tax to boost consumption in Budget 2024: Samir Bahl
While the expectations on overall economic growth were unchanged, FED committee members increased their inflation forecast for 2024 and 2025 and hence in June 2024, Fed kept the interest rates unchanged at 5.50%.
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.
What should investors do with their portfolios now? Samir Arora answers
But the same government also on the margin may change a little, little bit as feedback from the fact that their results are disappointing. But beyond a little bit here or there, what exactly will change and also at the index level, instead of stock A, stock B will do well, that is how life is.
Markets can gain another 10% by year end: Samir Arora
But the bottom line is that this is a big event and the FIIs who have been selling for the last few months are not going to sell like this anymore and therefore you will be in a sweet spot where domestic guys are buying and foreigners are trying to build back their positions.
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."
Helios Mutual Fund launches financial services fund
Helios Mutual Fund has launched Helios Financial Services Fund, an open-ended equity scheme investing in the financial services sector.
Two mutual fund schemes turned Rs 10 lakh to Rs 1 crore in 10 years of Modi govt
ETMutualFunds analysis reveals two schemes turning Rs 10 lakh into Rs 1 crore under Modi-led government. Nippon India Small Cap Fund and SBI Small Cap Fund deliver impressive CAGRs. Investors should consider risk appetite and goals before making investment decisions.
Helios Mutual Fund launches Balanced Advantage Fund
The investment objective of the scheme is to capitalize on the potential upside of equities while attempting to limit the downside by dynamically managing the portfolio through investment in equity and equity related instruments and active use of debt, money market instruments and derivatives.
Sundar Pichai, Google CEO, will be fired or he will resign, says this market veteran
Helios Capital founder Samir Arora has said Google's CEO Sundar Pichai will either be fired or resign due to controversies surrounding Google's Gemini AI. Responding to social media inquiries, Arora criticized Pichai's handling of AI advancements. Gemini, Google's AI chatbot, faces scrutiny for alleged bias against PM Modi. India's Ministry of Electronics and Information Technology may also issue a notice to Google over these concerns.
Samir Arora's Helios Mutual Fund files draft document for balanced advantage fund
The scheme will be benchmarked against CRISIL Hybrid 50+50 – Moderate Index. The scheme will be managed by Alok Bahl (equity investments), and Utssav Modi (debt investments).
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.
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