SC sets up mediators in Lalit Modi, Bina Modi family property dispute
Concluding the hearing in the matter, the bench asked the parties to use the facilities of the Hyderabad mediation centre.
After the death of industrialist KK Modi on November 02, his wife, Bina Modi has been appointed as the new Chairperson of modi enterprises. She has been chosen unanimously and elected for the position of president and managing director of Godfrey Phillips India Ltd and chairman and managing director, Indofil Industries Limited.
“I am honoured to be bestowed this responsibility and it will be my constant endeavor to keep my husband’s vision alive. KK took his father, Rai Bahadur Gujarmal Modi’s legacy forward and I believe it is now our responsibility and duty to ensure that his vision, philosophy and values continue to guide us on the path to growth, development and success. His extraordinary vision is daunting no doubt, but we, the family and the management of the Group Companies, are committed to see it reached,” said Bina on her appointment.
Modi Enterprises, founded in 1930s, values over USD 1.5 billion. The group has diversified businesses across the country, mainly in the fields of medicines, education, cosmetics, Fashion and chemicals.
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