Bina Modi reappointed as Godfrey Phillips India MD; Charu Modi named ED

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Bina Modi reappointed as Godfrey Phillips India MD; Charu Modi named ED - Business Standard

Quick Summary:

This development comes in the middle of the inheritance battle among the Modi family.

This decision is part of an ongoing family dispute, in which Samir and his brother Lalit are contesting their mother Bina over an inheritance valued between Rs 11,000 crore and Rs 30,000 crore.

Meanwhile, the vacancy caused by the retirement by rotation of her son Samir Modi will not be filled up for the time being, with shareholders' approval of 99%, the company told the exchanges.