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Delhi court rules Samir Modi cannot remain director at Godfrey Phillips without reappointment
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Court directs nomination committee to follow Companies Act procedures for reappointment
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Godfrey Phillips allowed to exit retail business under 24Seven brand
A Delhi court has ruled against Samir Modi in the ongoing dispute over his role as director at Godfrey Phillips India. The court stated that Modi cannot remain in his position without following the due process of reappointment as prescribed by law.
The ruling overturns an interim protection granted to Modi in June, which had temporarily prevented his removal from the company’s board. The court has directed the nomination and remuneration committee of Godfrey Phillips to adhere to the procedures outlined in the Companies Act when considering Modi’s reappointment.
The court’s decision also allows Godfrey Phillips to proceed with its planned exit from the retail business under the 24Seven brand, despite Modi’s demands to prevent the move. The company has been at the center of an inheritance feud involving the successors of the late KK Modi.
