It additionally famous that Samir Modi shouldn’t be entitled to the place as Director on the corporate’s board and it needs to be completed as per the provisions of the Corporations Act. On the identical time, it additionally held that Godfrey Phillips can’t be “injuncted” to proceed the retail enterprise division, operated underneath model, 24Seven, if it plans to discontinue operations, overturning a earlier order.
- Additionally learn: Godfrey Phillips household feud: Delhi Courtroom grants aid to Samir Modi
The mom and son are locked in a dispute over the distribution of the late KK Modi’s over-₹11,000 crore inheritance.
The Courtroom opined that “no interim order” may be handed for reappointment of Plaintiff (Samir Modi) to the Board of Administrators of the corporate.
It additionally directed Bina Modi, “who’s the managing trustee of the KK Modi Household Belief…. shall advocate the title of the Plaintiff (Samir Modi) for appointment as director to the Nomination and Remuneration Committee” of Godfrey Philips India., “who might take applicable choice as per the mandates of the Corporations Act and the belief imposed on them by the corporate.”
It additionally added that in case Samir Modi’s title is really useful by the NRC and authorized by the Board of Administrators and put for voting earlier than the Normal Assembly of the Firm, Bina Modi , “shall not take any steps to defeat the candidature of” Samir Modi as Director.
In the meantime, the Courtroom additionally held that Godfrey Phillips India can’t be compelled to proceed the retail enterprise division underneath model 24Seven if it decides to shut the retail arm, lifting the injunction on “establishment”.
- Additionally learn: KK Modi household feud intensifies
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