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Samir Modi accuses his mother Bina Modi of cheating shareholders in the Godfrey Phillips India family feud.
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Samir opposes the sale of the company’s retail arm, 24Seven, and questions the rationale behind the decision.
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The feud has led to a bitter inheritance battle and arbitration proceedings against Bina Modi.
The family feud at Godfrey Phillips India has intensified, with director Samir Modi alleging that his mother Bina Modi is cheating shareholders. Samir opposes the sale of the company’s retail arm, 24Seven, which he claims is being sold at a loss despite generating profits.
Samir has questioned the decision, citing his own contributions to the company, including building businesses valued at over ₹2,000 crore. He has also challenged the company’s priorities, asking why the ₹3,000 crore in reserves is not being distributed to shareholders.
The feud has led to a bitter inheritance battle, with Samir and his brother Lalit Modi initiating arbitration proceedings against their mother. The issue will come to a head at the upcoming AGM on September 6, where shareholders will decide on the company’s leadership future.
