A Delhi court provided relief to Godfrey Phillips executive director Samir Modi on June 27 after it granted protection against removal from board, CNBC-TV18 said in a report.
The court restrained Godfrey Phillips and Bina Modi, the chairperson and managing director of the KK Modi group, from ousting Samir Modi from the board amid dispute between mother and the son, the news channel said.
The stock price of the cigarettes maker was trading at Rs 4,287.9 just before closing on NSE, down 3.15 percent.
The court also restrained Bina and Godfrey from closing down of retail division chain '24seven'. The court said removal from the board and the closure of the retail chain can prima facie cause 'irreparable harm' to Samir Modi, the news channel reported.
Earlier this month, Samir accused his mother of orchestrating a physical assault on him during a recent board meeting.
According to Samir's complaint lodged with the Delhi Police, he was forcibly prevented from participating in the meeting by his mother's security personnel, resulting in grievous injuries.
The feud stems from an ongoing legal battle over the family’s 11,000-crore empire.
Samir has requested urgent legal action, warning that CCTV footage of the incident is at risk of being destroyed. Despite reaching out, Godfrey Phillips India has not yet responded to these serious allegations.
"My mother and Mr Bhasin orchestrated this assault and the other present board members were consenting parties to the assault. Please make sure that the strictest action is taken; these people are very influential and moneyed and will attempt to derail the process," an FIR filed on June 1 alleged.
With inputs from PTI
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
