Bina Modi's Reappointment and Boardroom Tussles at Godfrey Phillips India

Shareholders of Godfrey Phillips India Ltd have approved Bina Modi's reappointment as Managing Director with 86.6% votes. Her daughter Charu Modi's appointment and the decision not to fill Samir Modi's vacancy were also approved. The company exits the 24Seven retail business amid boardroom disputes involving Bina and Samir Modi.

Shareholders of Godfrey Phillips India Ltd have approved the reappointment of Bina Modi as Managing Director, securing 86.6% of the total votes in favor. This resolution marks a significant endorsement for Modi, amid ongoing boardroom tensions at the company.

In addition, her daughter, Charu Modi, received shareholder approval for her appointment along with the ratification of her remuneration package. The company also resolved not to fill the vacancy created by the retirement of Bina Modi's son, Samir Modi.

Godfrey Phillips has decided to exit the 24Seven retail business following the lifting of an interim injunction. The board initially approved this move in April 2024. These developments come amid a backdrop of internal disputes, with allegations of physical assault filed by Samir Modi against Bina Modi's PSO.

(With inputs from agencies.)