Samir Modi ousted from Godfrey Phillips India board after failing to secure reappointment bid: Report

Samir Modi was ousted from the board of Godfrey Phillips India at a meeting on August 7 as fellow directors didn’t support his reappointment, the Economic Times reported. 

Business Today was unable to verify the development on its own. 

Addressing the row surrounding Samir Modi’s role as a director at Godfrey Phillips India, a Delhi court in July ruled that Modi is not entitled to remain perpetually in his position without following the due process of reappointment as prescribed by law.  

The decision overturned an interim protection granted to him in June, which temporarily prevented his removal from the company’s board. 

The court said the nomination and remuneration committee of Godfrey Phillips must adhere to the procedures outlined in the Companies Act when considering Samir Modi’s reappointment.  

The court also gave Godfrey Phillips the autonomy to proceed with its planned exit from the retail business under the 24Seven brand.  

Modi has accused his mother, Bina, and other directors of conspiring to oust him from the board. He also alleged that he was physically assaulted by his mother’s personal security officer during a board meeting on May 30. 

Godfrey Phillips has appointed Charu Modi to the company’s board in place of Samir Modi, according to the ET report. Charu, Samir and Lalit Modi are children of the late KK Modi. Bina Modi, currently the chairperson and managing director of Godfrey Phillips, helms the family trust that was set up to oversee the distribution of the family wealth.  

Samir and his brother Lalit Modi, the former IPL chief, are embroiled in a bitter dispute with their mother over the distribution of the family inheritance. They contend that Bina is not adhering to the trust deed laid down by their late father.