Samir Modi, Executive Director of Godfrey Phillips India, on Thursday got some relief from a Delhi Court in the ongoing tussle with his mother Bina Modi, who is the Chairperson of the company. A Delhi Court in Saket has directed the two parties to maintain the “status quo” till the next hearing, putting restrictions on the removal of Samir Modi from the Board of Directors. It also restricted the discontinuation of the retail chain being operated under the brand 24Seven.
The mother and son are locked in a dispute over the distribution of the late KK Modi’s ₹11,000 crore inheritance.
The court was hearing a petition by Samir Modi seeking an ex-parte injunction against his removal from the Board of Directors of various companies of the KK Modi Group, as well as against the discontinuation of the retail business.
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The Court opined that the plaintiff may suffer “irreparable loss” if he is removed from the Board of Directors or if the business of the company, namely 24Seven, is discontinued. Therefore, it directed the two parties to maintain the status quo until the next date of hearing. The case is slated to be next heard on August 2.
The dispute between the mother and son intensified after Samir Modi lodged an FIR alleging that his mother, Bina Modi, orchestrated an assault on him through her PSO on May 30 when he attempted to enter a scheduled board meeting. The PSO had also filed a complaint against Samir Modi.
Hearing the plea filed by the PSO against Samir Modi, the Metropolitan Magistrate Court in Saket called for an action taken report (ATR). The PSO has sought direction for the registration of a non-cognizable report (NCR) and an investigation into allegations made against Samir Modi by him. The matter is scheduled for the next hearing on July 12.