Samir Modi accuses mother Bina of assault amid Rs 11k crore family feud

The family feud over the Rs 11,000 crore fortune of the late KK Modi turned violent when Samir Modi, the executive director of Godfrey Phillips, accused his mother, Bina Modi, of orchestrating an attack on him to gain leverage in the ongoing inheritance dispute. According to a report by The Economic Times, Samir Modi lodged a complaint with the Delhi Police, alleging that his mother, also a director of Godfrey Phillips, along with her personal security officer (PSO) and others, caused him “grievous hurt”.

The incident reportedly took place on Thursday, May 30, during a board meeting.

Bina Modi’s alleged assault on son Samir Modi

According to Samir Modi’s complaint filed at Sarita Vihar police station on May 31, he was invited to a board meeting where crucial decisions were to be made. “The agenda had been shared with me, indicating important decisions were to be taken. Court matters are pending regarding the ownership of the shares of GPI, and the matter is sub judice before the Supreme Court,” Samir Modi detailed.

Upon arriving at the meeting, Samir Modi alleged his mother’s PSO attempted to block his entry, acting on Bina Modi’s instructions. “He attacked me and hit me. He twisted my arm with such ferocity that the index finger of my right hand broke,” Samir Modi recounted in his complaint.

Despite his injury, Samir Modi claimed he was eventually allowed into the board room, where his mother disregarded his condition and insisted he sit down and attend the meeting. Following the incident, Samir Modi sought medical attention, and a medicolegal report (MLC) was produced. “My index finger has been broken into two and requires a screw and wire to be put together. I may not regain full function of my index finger,” he stated.

Why was Samir Modi attacked?

Samir Modi believes the attack was driven by greed and intended to force him to settle the inheritance dispute on unfavourable terms. “I request immediate legal action. My mother and Bhasin orchestrated this assault, and the other present board members were consenting parties. Please ensure the strictest action is taken as these individuals are influential and wealthy and may attempt to derail the process,” he urged in his complaint.

How did Bina Modi respond to the allegations?

In response, a spokesperson for Godfrey Phillips categorically denied the allegations made by Samir Modi, describing them as “entirely false and atrocious,” according to a report by CNBCTV. The spokesperson clarified that the incident took place outside the board room during an audit committee meeting around noon and stated that in-house CCTV footage of the event is available for investigation.

Godfrey Phillips Rs 11,000 crore inheritance feud

The inheritance dispute centres on KK Modi’s extensive holdings, including a significant share in Godfrey Phillips and other family companies. Following KK Modi’s death in 2019, Samir Modi has contested his mother’s management of the family’s affairs in the Supreme Court. Despite previously receiving an offer from his mother to buy his stake, Samir Modi now refuses to exit and has accused her of not distributing funds as outlined in his father’s trust deed.

The contested inheritance includes nearly 50 per cent of Godfrey Phillips, valued at over Rs 5,500 crore, and shares in other group companies across various sectors such as cosmetics, retail, and direct selling.

Samir Modi also leads consumer businesses, including Colorbar Cosmetics, 24/7 Retail, and the direct selling platform Modicare.

First Published: Jun 01 2024 | 3:46 PM IST