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NDTV
28-07-2025
- Business
- NDTV
Inheritance Wars: Ambani, Modi, Now Kapur. India's Mega Family Feuds
Rani Kapur, the mother of businessman Sunjay Kapur, made dramatic allegations Friday - of being locked in a room and forced to sign documents by "certain people" (read, her daughter-in-law, Priya Sachdev Kapur) trying to "usurp the family legacy" and gain control of the Sona Group. The Sona Group, of which Sunjay Kapur was Chairman till his death in June, represents a business empire with a presence in the agriculture, textiles, construction, IT, education, and biotech spaces, and which has a market capitalisation of nearly Rs 30,000 crore. In her letter Ms Kapur demanded an AGM be postponed and claimed she had been coerced into signing documents. She also said she, as the majority shareholder, had not been consulted in the appointment of her daughter-in-law as a non-executive director of the board. Priya Sachdev Kapur has yet to respond, but the company has said Ms Kapur has not been a shareholder since 2019. Whatever the truth may be, and it is likely that truth will be buried under a mountain of allegations, counter-allegations, the Kapur family drama is far from the first of its kind. Over the past several years many prominent business clans have fought amongst themselves for control of the millions in the coffers, particularly after the death of the family head. Last year, for example, the family of Modi Enterprises Chairman Krishan Kumar Modi, who died in 2019, went to court over an inheritance in excess of Rs 11,000 crore. Mr Modi's will stipulated that his wealth be divided equally between his wife, Bina; two sons, Samir and Lalit; and daughter, Charu. However, in February 2024 Samir Modi filed a lawsuit claiming Bina Modi had violated the terms of his father's trust and mishandled company affairs. He sought the dissolution of the trust. Samir and Charu Modi had initially supported Bina Modi and the family trust, but Lalit Modi, the founder of the lucrative Indian Premier League cricket tournament, had demanded otherwise. Eventually it became Samir and Lalit vs Bina, but shareholders of Godfrey Philips, the group's flagship brand, then stepped in, backing the latter and removing the former from the board. But that has not settled the inheritance row. Neither Samir nor Lalit Modi have chosen to relinquish their shares in the company to their mother, which would signal their surrender. And so, the Modi family feud rumbles on, albeit beneath the surface for now. Going back a year further, there is the Oberoi story. After family patriarch Prithvi Raj Singh Oberoi - the famous hotelier whose EIH Ltd is valued at around Rs 9,000 crore and who built the Oberoi and Trident hotel chains, died in November 2023 - there was a scrabble for power and money. The central characters are Anastasia Oberoi, a daughter from his second marriage, her stepsiblings Vikramjit and Natasha, and a cousin, Arjun. And the plot twist here are two wills - one made in 1992 and another in 2021, and a codicil (or amendment) made in 2022. The stepsiblings and cousin back the 1992 will and the daughter backs the 2022 codicil, which grants her mother and her certain properties and financial assets. The late Prithvi Raj Singh Oberoi (File). She has accused the former three of trying to obstruct this division. In November last year, after she approached the Delhi High Court, there seemed to be a thaw, and she attended an AGM in which the warring family members made certain assurances. The Oberoi and Modis are just two examples of family squabbles over mega inheritances. Then there was with the Ambani clan after patriarch Dhirubhai Ambani died intestate in 2002. His sons, Mukesh and Anil, fought for control till mother Kokilaben sat them down and brokered peace, dividing the massive Reliance empire between them. The brothers, nevertheless, continued to squabble publicly for years, often even competing for assets and contracts. In 2018 there seemed to be some reconciliation after Mukesh bailed Anil out of trouble by paying over Rs 400 crore to rescue his struggling telecom-to-infrastructure company. But the younger Ambani's fortunes haven't really improved since then, with the Enforcement Directorate this week raiding locations linked to his business over alleged loan scams. NDTV is now available on WhatsApp channels. Click on the link to get all the latest updates from NDTV on your chat.
NDTV
25-07-2025
- Business
- NDTV
Inheritance Wars: Ambani, Modi, Bajaj, Now Kapur. India's Mega Family Feuds
Rani Kapur, the mother of businessman Sunjay Kapur, made dramatic allegations Friday - of being locked in a room and forced to sign documents by "certain people" (read, her daughter-in-law, Priya Sachdev Kapur) trying to "usurp the family legacy" and gain control of the Sona Group. The Sona Group, of which Sunjay Kapur was Chairman till his death in June, represents a business empire with a presence in the agriculture, textiles, construction, IT, education, and biotech spaces, and which has a market capitalisation of nearly Rs 30,000 crore. In her letter Ms Kapur demanded an AGM be postponed and claimed she had been coerced into signing documents. She also said she, as the majority shareholder in the Group, had not been consulted in the appointment of her daughter-in-law as a non-executive director of the board. Priya Sachdev Kapur has yet to respond. Whatever the truth may be, and it is likely that truth will be buried under a mountain of allegations, counter-allegations, the Kapur family drama is far from the first of its kind. Over the past several years many prominent business clans have fought amongst themselves for control of the millions in the coffers, particularly after the death of the family head. Last year, for example, the family of Modi Enterprises Chairman Krishan Kumar Modi, who died in 2019, went to court over an inheritance in excess of Rs 11,000 crore. Mr Modi's will stipulated that his wealth be divided equally between his wife, Bina; two sons, Samir and Lalit; and daughter, Charu. However, in February 2024 Samir Modi filed a lawsuit claiming Bina Modi had violated the terms of his father's trust and mishandled company affairs. He sought the dissolution of the trust. Samir and Charu Modi had initially supported Bina Modi and the family trust, but Lalit Modi, the founder of the lucrative Indian Premier League cricket tournament, had demanded otherwise. Eventually it became Samir and Lalit vs Bina, but shareholders of Godfrey Philips, the group's flagship brand, then stepped in, backing the latter and removing the former from the board. But that has not settled the inheritance row. Neither Samir nor Lalit Modi have chosen to relinquish their shares in the company to their mother, which would signal their surrender. And so, the Modi family feud rumbles on, albeit beneath the surface for now. Going back a year further, there is the Oberoi story. After family patriarch Prithvi Raj Singh Oberoi - the famous hotelier whose EIH Ltd is valued at around Rs 9,000 crore and who built the Oberoi and Trident hotel chains, died in November 2023 - there was a scrabble for power and money. The central characters are Anastasia Oberoi, a daughter from his second marriage, her stepsiblings Vikramjit and Natasha, and a cousin, Arjun. And the plot twist here are two wills - one made in 1992 and another in 2021, and a codicil (or amendment) made in 2022. The stepsiblings and cousin back the 1992 will and the daughter backs the 2022 codicil, which grants her mother and her certain properties and financial assets. The late Prithvi Raj Singh Oberoi (File). She has accused the former three of trying to obstruct this division. In November last year, after she approached the Delhi High Court, there seemed to be a thaw, and she attended an AGM in which the warring family members made certain assurances. The Oberoi and Modis are just two examples of family squabbles over mega inheritances. There are other kinds too, including those that have been resolved peacefully, such as the dispute in the Bajaj family after the death of Rahul Bajaj in 2022. His sons, Rajiv and Sanjiv, locked horns over the future direction of the company. The late Rahul Bajaj (File). Fortunately, their visions were vastly different, and the Bajaj Group was restructured to allow each to go his own way. Thus, was born Bajaj Auto (headed by Rajiv) and Bajaj Finserv (Sanjiv). No drama, at least not very much, here. But there was with the Ambani clan after patriarch Dhirubhai Ambani died intestate in 2002. His sons, Mukesh and Anil, fought for control till mother Kokilaben sat them down and brokered peace, dividing the massive Reliance empire between them. The brothers, nevertheless, continued to squabble publicly for years, often even competing for assets and contracts. In 2018 there seemed to be some reconciliation after Mukesh bailed Anil out of trouble by paying over Rs 400 crore to rescue his struggling telecom-to-infrastructure company. But the younger Ambani's fortunes haven't really improved since then, with the Enforcement Directorate this week raiding locations linked to his business over alleged loan scams.
Economic Times
15-05-2025
- Business
- Economic Times
Godfrey Phillips Q4 Results: Profit jumps 30% to Rs 240 crore, revenue soars 70%
Cigarette maker Godfrey Phillips India Ltd on Thursday reported a 30.73 per cent rise in its consolidated net profit to Rs 293.96 crore in the March quarter of FY25. The company had posted a net profit of Rs 224.86 crore during the January-March period a year ago, according to a regulatory filing from Godfrey Phillips India, the flagship company of Modi Enterprises. ADVERTISEMENT However, its revenue from operations was up 70.6 per cent to Rs 1,887.79 crore during the March quarter of FY25. It stood at Rs 1,106.64 crore in the corresponding period of the previous fiscal. Total expenses of Godfrey Phillips during the period under review increased 75.58 per cent to Rs 1,663.92 crore. Godfrey Phillips' total income, which includes other income, was Rs 1,965.44 crore, up 67.77 per cent in Q4FY25. For the financial year ended March 31, 2025, Godfrey Phillips' net profit grew 24.45 per cent to Rs 1,152.89 crore, from Rs 926.35 crore a year ago. In FY25, its total consolidated income rose 36.66 per cent to Rs 6,988.11 crore. ADVERTISEMENT Godfrey Phillips India is the flagship company of Modi Enterprises. It makes popular cigarette brands like Four Square, Red and White, Cavanders, Tipper and North Pole. It also manufactures and distributes the brand Marlboro under a license agreement with Philip Morris. Shares of Godfrey Phillips India Ltd on Thursday settled at Rs 9,199.80 apiece, up 2.65 per cent from the previous close on the BSE. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
15-05-2025
- Business
- Time of India
Godfrey Phillips Q4 Results: Profit jumps 30% to Rs 240 crore, revenue soars 70%
Cigarette maker Godfrey Phillips India Ltd on Thursday reported a 30.73 per cent rise in its consolidated net profit to Rs 293.96 crore in the March quarter of FY25. The company had posted a net profit of Rs 224.86 crore during the January-March period a year ago, according to a regulatory filing from Godfrey Phillips India, the flagship company of Modi Enterprises. However, its revenue from operations was up 70.6 per cent to Rs 1,887.79 crore during the March quarter of FY25. It stood at Rs 1,106.64 crore in the corresponding period of the previous fiscal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Yopougon: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo Total expenses of Godfrey Phillips during the period under review increased 75.58 per cent to Rs 1,663.92 crore. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Godfrey Phillips' total income, which includes other income, was Rs 1,965.44 crore, up 67.77 per cent in Q4FY25. For the financial year ended March 31, 2025, Godfrey Phillips' net profit grew 24.45 per cent to Rs 1,152.89 crore, from Rs 926.35 crore a year ago. Live Events In FY25, its total consolidated income rose 36.66 per cent to Rs 6,988.11 crore. Godfrey Phillips India is the flagship company of Modi Enterprises. It makes popular cigarette brands like Four Square, Red and White, Cavanders, Tipper and North Pole. It also manufactures and distributes the brand Marlboro under a license agreement with Philip Morris. Shares of Godfrey Phillips India Ltd on Thursday settled at Rs 9,199.80 apiece, up 2.65 per cent from the previous close on the BSE.
