Charu Modi has been appointed to the board of Godfrey Phillips India amidst a shareholder battle over inheritance at the KK Modi group, according to a stock exchange disclosure.
Charu is one of three offspring of the late KK Modi. Her siblings are former IPL boss Lalit Modi and Samir Modi.
While sources said she has been associated with running the group's education ventures she will be taking on a more active role at the company. She is seen to be close to her mother Bina Modi who is locked in a pitched battle with her two sons over the family's inheritance.
Family patriarch KK Modi passed away in 2019.
Lalit and Samir Modi have filed lawsuits against their mother and demanded dissolution of the family trust which was set up to house the family’s wealth in 2014. Bina Modi is at the helm of affairs of the trust. The brothers have demanded that the trust be split and that their share of inheritance be granted to them. Charu prefers continuation of the trust and supports her mother’s position at its helm, according to sources.
Bina Modi is also the managing director of Godfrey Phillps and is likely to seek reappointment to the position in September when she will cross the age of 80 years.
As per the stock exchange disclosure, Charu Modi completed her graduation at Delhi’s Lady Shri Ram College and completed her MBA at Thunderbird School of Global Management, USA. She has also completed the president’s program in leadership from Harvard Business School.
The family's business interests cover tobacco, 24/7 retail, agro chemicals, direct selling, cosmetics and education. The value of the family inheritance has been pegged at anywhere between Rs. 11,000 crore and Rs. 30,000 crore as per industry watchers.
Charu is one of three offspring of the late KK Modi. Her siblings are former IPL boss Lalit Modi and Samir Modi.
While sources said she has been associated with running the group's education ventures she will be taking on a more active role at the company. She is seen to be close to her mother Bina Modi who is locked in a pitched battle with her two sons over the family's inheritance.
Family patriarch KK Modi passed away in 2019.
Lalit and Samir Modi have filed lawsuits against their mother and demanded dissolution of the family trust which was set up to house the family’s wealth in 2014. Bina Modi is at the helm of affairs of the trust. The brothers have demanded that the trust be split and that their share of inheritance be granted to them. Charu prefers continuation of the trust and supports her mother’s position at its helm, according to sources.
Bina Modi is also the managing director of Godfrey Phillps and is likely to seek reappointment to the position in September when she will cross the age of 80 years.
As per the stock exchange disclosure, Charu Modi completed her graduation at Delhi’s Lady Shri Ram College and completed her MBA at Thunderbird School of Global Management, USA. She has also completed the president’s program in leadership from Harvard Business School.
The family's business interests cover tobacco, 24/7 retail, agro chemicals, direct selling, cosmetics and education. The value of the family inheritance has been pegged at anywhere between Rs. 11,000 crore and Rs. 30,000 crore as per industry watchers.
