IPL founder Lalit Modi says the legal dispute over Godfrey Phillips is an unfortunate family matter that could be resolved by enforcing a trust agreement. He laments the slow pace of the Indian judiciary in the ongoing conflict with his mother, Bina Modi.
Godfrey Phillips Family Dispute
Indian Premier League (IPL) founder Lalit Modi said the legal dispute involving Godfrey Phillips is a family matter that remains pending in court, adding that the matter could be resolved immediately if the trust agreement is enforced.
The "Godfrey Phillips case" involving Lalit Modi pertains to a dispute that arose after the death of industrialist KK Modi in 2019. Following KK Modi's passing, Lalit Modi and his brother Samir became involved in a long-running legal and boardroom conflict with their mother, Bina Modi, over control of the group's flagship tobacco company.
Speaking to ANI during an interview in London, Lalit Modi described the situation as unfortunate and said the legal proceedings have been prolonged. "It's unfortunate. You know, my father built a great, great company. We are three children, and I have a mother. It's in court, and unfortunately, we don't meet eye to eye as far as my mother and I are concerned. And it's just dragging on. If they were to enforce this trust agreement, we would have a solution tomorrow morning," the 62-year-old former IPL Chairman said.
'The Outcome is Very Slow'
He further said that while he has respect for the judiciary, the slow pace of proceedings in India often delays outcomes in legal disputes. "But what is happening is we have a great judiciary in India, great judges in India, but the outcome is very slow. And that is the problem," he added.
Lalit Modi also said prolonged court battles affect timely resolution and personal progress. "The problem is that if you look at whether anything I've done and gone to court, it takes years for the truth to come out. And because you're always postponing, postponing, postponing, you know, unlike everywhere else, judgment is there, but it's slow. And that slows down your life," he said.
Lalit added that the issue is not about intent but about delays in the judicial process, which he said impacts decision-making and closure in long-standing disputes. "So it's not anything that has to do with what you want to do or achieve or go forward and do in your life," IPL founder added.
Company's Market Performance
Comparing the company's performance with industry rivals, Lalit stated that the company has significantly strengthened its position in the market. "Godfrey Phillips is a great company. It's growing from strength to strength. It's probably one of the fastest-growing tobacco companies in the world. Marlboro is in a complete vertical going up. I mean, it's given ITC a run for its money," Lalit Modi said. (ANI)
(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)