"The NRC observed that Samir Kumaar Modi's overall conduct is much against his fiduciary duties and responsibilities as an executive director. Accordingly, the NRC unanimously decided to recommend against his reappointment as director, keeping in view the overall interests of the company and its stakeholders," the company said in a communication to shareholders.
Modi was removed from Godfrey Phillips India's board at a meeting on August 7 after fellow directors did not support his reappointment.
In his place, the company appointed Charu Modi, daughter of Bina Modi and sister to Samir and Lalit Modi.
This story is from the August 31, 2024 edition of Business Standard.
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This story is from the August 31, 2024 edition of Business Standard.
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