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Mint
3 days ago
- Business
- Mint
Delhi's Saket court summons Samir Kumar Modi in Godfrey Phillips defamation case
The Saket sessions court in Delhi on Thursday ordered summons to cigarette maker Godfrey Phillips India's (GPI) former director Samir Kumar Modi in a defamation case filed by two of the company's seven independent directors. Additional sessions judge Sheetal Chaudhary Pradhan set aside the trial court's 19 May order dismissing the complaint and directed the lower court to proceed with summoning Modi. 'Considering the aforesaid appreciation of the facts and circumstances of this case and also the case laws, the impugned order dated 19.05.2025 passed by the learned trial court stands set aside. The present revision petition stands allowed… the trial court is directed to summon the accused/respondent and proceed further as per law," the court said in its order, a copy of which was seen by Mint. Boardroom clash The dispute stems from a boardroom clash at GPI in May 2024, during which Modi alleged he was assaulted. Independent directors Atul Kumar Gupta and Nirmala Bagri accuse him of defaming them by publicly claiming they had consented to the alleged assault. The other independent directors are Lalit Bhasin, Ajay Vohra, Avtar Singh Monga, Sumant Bharadwaj, and Subramanian Lakshminarayanan. Also Read: Supreme Court stays ₹273.5 crore GST notice against Patanjali Ayurved Modi, the youngest of three children of the late business tycoon K.K. Modi—and brother to former IPL chief Lalit Modi and sister Charu Modi—was removed from the board on 7 August 2024. GPI is a key player in India's tobacco market and partners with Marlboro-maker Philip Morris. Lalit Samir have differed with mother Bina Modi, who heads the board of Godfrey Phillips. Samir was removed from the board of the company last year while Bina Modi was re-elected as the chairman and managing director of the company. Samir had accused the board members of colluding to arrange an assault on him as he was trying to attend a key board meeting in May last year. Defamation case According to the complaint, the events unfolded on 30 May 2024 when an audit committee meeting was underway ahead of a scheduled board meeting. Modi, then an executive director but not a member of the committee, allegedly got into a heated argument with a security officer outside the meeting room. To avoid disruption, senior board members invited him in, where he allegedly shouted angrily and banged folders on the table. Despite the incident, the meeting concluded, and Modi later participated in the board meeting without signs of injury. Later On 1 June 2024, The Economic Times published an interview in which Modi alleged that the complainants and other board members orchestrated a 'planned attack" to stop him from attending the meeting. Also Read: A Wikipedia note, a customs case, and Paytm's big win The directors deny the charge, citing CCTV footage showing Modi as the aggressor, and claim the remarks were false, scandalous, and intended to damage their reputations. They say that Smir Modi's statements created a false impression that they condoned or arranged an assault, causing them social, professional, and reputational harm prompting them to approach the court. The defamation complaint under Sections 499 and 500 of the Indian Penal Code was filed in November 2024. The trial court dismissed it in May 2025, prompting the directors to seek revision before the sessions court. Sessions Court's Findings The sessions court noted that the Economic Times interview contained allegations harmful to the complainants, who were easily identifiable as public figures and board members of a well-known company. The complainants had submitted the article with a Section 65B certificate and named the reporter as a witness. The court further observed that defamation can be directed at identifiable groups, such as a company's board members. It ruled that the trial court had erred by assuming the existence of other litigation was sufficient grounds for dismissal and by denying the complainants the opportunity to present their witnesses. Also Read: States race to woo EV makers with land sops and tax breaks as Centre eases off Section 65B allows electronic records—such as emails, scanned copies, or web pages—to be accepted as evidence in court, provided they come with a certificate confirming their authenticity and how they were produced.
Yahoo
24-02-2025
- Business
- Yahoo
Illegal U.S. vape sales worth at least $2.4 billion in 2024, data shows
By Emma Rumney LONDON (Reuters) - Sales of unauthorised, flavoured disposable vapes in the United States amounted to around $2.4 billion in 2024, or 35% of the e-cigarettes from outlets such as convenience stores and supermarkets, according to private retail sales data reviewed by Reuters. That compares to sales worth $3.2 billion in 2023 and $2.8 billion in 2022, the data, which comes from market research firm Circana, shows. The data was provided to Reuters by an industry source outside of Circana. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Circana said it could not confirm or comment on the data as it was not public. The U.S. Food and Drug Administration has only authorised 34 tobacco- or menthol-flavoured vape products for legal sale in the United States, all from big tobacco companies like British American Tobacco and Altria. The private Circana data tracked around 11,000 unauthorised flavoured disposable e-cigarette products on the market from hundreds of brands, spanning flavours such as "cookie and cloud" and "magic cotton candy". It provides a rare insight into the scale of illegal vape sales across the U.S., where the market has been flooded with unauthorised products. Circana told Reuters that it estimates the entire vape market it tracks, which includes authorised products as well as non-disposable vapes, was worth $6.8 billion last year. That would mean that flavoured disposable vapes account for around 35% of the market tracked by Circana. The company's data only tracks sales in certain channels such as convenience stores and does not capture vapes sales made online, in independent stores and in speciality vape outlets. The figures showed a 25% contraction in flavoured disposable vape sales since 2023. The industry source said Circana's 2024 numbers were preliminary and its data on disposable vapes had been revised upwards in the past. BAT and Marlboro-maker Altria, whose U.S. tobacco and vape businesses have lost market share to unauthorised products, say the market is growing. Altria estimates the U.S. vape market expanded by 30% in 2024, "driven entirely by illicit products," CEO Billy Gifford told a conference on February 19. The data showed FDA efforts to crack down have had some impact. Previously top-selling labels Esco Bars and Elf Bars both dropped out of the top 10 most sold devices in 2024 after the FDA blocked their imports in 2023. However, other brands have taken their place.
Reuters
24-02-2025
- Business
- Reuters
Illegal U.S. vape sales worth at least $2.4 billion in 2024, data shows
LONDON, Feb 24 (Reuters) - Sales of unauthorised, flavoured disposable vapes in the United States amounted to around $2.4 billion in 2024, or 35% of the e-cigarettes from outlets such as convenience stores and supermarkets, according to private retail sales data reviewed by Reuters. That compares to sales worth $3.2 billion in 2023 and $2.8 billion in 2022, the data, which comes from market research firm Circana, shows. The data was provided to Reuters by an industry source outside of Circana. Circana said it could not confirm or comment on the data as it was not public. The U.S. Food and Drug Administration has only authorised 34 tobacco- or menthol-flavoured vape products for legal sale in the United States, all from big tobacco companies like British American Tobacco (BATS.L), opens new tab and Altria (MO.N), opens new tab. The private Circana data tracked around 11,000 unauthorised flavoured disposable e-cigarette products on the market from hundreds of brands, spanning flavours such as "cookie and cloud" and "magic cotton candy". It provides a rare insight into the scale of illegal vape sales across the U.S., where the market has been flooded with unauthorised products. Circana told Reuters that it estimates the entire vape market it tracks, which includes authorised products as well as non-disposable vapes, was worth $6.8 billion last year. That would mean that flavoured disposable vapes account for around 35% of the market tracked by Circana. The company's data only tracks sales in certain channels such as convenience stores and does not capture vapes sales made online, in independent stores and in speciality vape outlets. The figures showed a 25% contraction in flavoured disposable vape sales since 2023. The industry source said Circana's 2024 numbers were preliminary and its data on disposable vapes had been revised upwards in the past. BAT and Marlboro-maker Altria, whose U.S. tobacco and vape businesses have lost market share to unauthorised products, say the market is growing. Altria estimates the U.S. vape market expanded by 30% in 2024, "driven entirely by illicit products," CEO Billy Gifford told a conference on February 19. The data showed FDA efforts to crack down have had some impact. Previously top-selling labels Esco Bars and Elf Bars both dropped out of the top 10 most sold devices in 2024 after the FDA blocked their imports in 2023. However, other brands have taken their place.
