Independent director Lalit Bhasin refutes allegations of assault by Samir Modi: Report
Lalit Bhasin, an independent director at Godfrey Phillips, has refuted allegations made by Samir Modi, the company’s executive director and board member, The Economic Times has reported.
Business Today was unable to verify the report on its own.
Modi had claimed that he was assaulted at a board meeting in May at the behest of other directors, including his mother Bina Modi and Bhasin.
“This is something personal. Defamatory, libellous, outrageous allegations have been made against me,” Bhasin told ET.
These are the first public comments made by any of the company’s independent directors amid the ongoing shareholder fight.
Bhasin is a reputed lawyer and serves on the boards of many companies. The report added that he had deposed before a Delhi court that the allegations had cast a shadow on his image in the legal fraternity.
Bina Modi’s PSO filed an official complaint against Samir Modi for alleged physical assault.
Samir filed a complaint with Delhi Police on May 30, claiming that his mother’s security officer (PSO) and some Godfrey Phillips directors caused him “grievous hurt” when he tried to enter a scheduled board meeting on May 30.
“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,” the FIR dated June 1 alleged.
The feud over KK Modi’s Rs 11,000-crore fortune took an ugly turn with Samir Modi, the executive director of Godfrey Phillips, accusing his mother, Bina, of orchestrating an attack on him to gain leverage in the dispute.
Samir has reportedly taken his mother to the Supreme Court over her management of the family’s estate. The inheritance in question includes nearly 50 percent of the shares in publicly traded Godfrey Phillips, valued at over Rs 5,500 crore, along with stakes in other Modi group firms.
Despite a prior offer from his mother, also Godfrey Phillips director, to buy his stake, he now refuses to exit. Samir has also accused his mother of not distributing funds as specified in a trust deed by his father.
Meanwhile, a Delhi court in Saket on July 20 registered the criminal defamation suit filed by Bina Modi and 3 other Directors of Godfrey Philips against Samir Modi.
The defamation suit terms Samir Modi’s statements in the media as deliberate, false, malicious, concocted and unsubstantiated. It seeks criminal action against him under Section 500 of the IPC. The legal suit also seeks compensation for the “loss and injury” suffered due to his statements.
Bina Modi is the Chairman of Modi Enterprises, which includes companies like Godfrey Philips. Samir Modi is her son, and sits on the Board of various companies under Modi Enterprises. He also is an Executive Director at Godfrey Philips.
