New Delhi, November 15, 2019: Dr. Bina Modi, Head of the Family Council, Modi Enterprises, takes over as the new Chairperson of Modi Enterprises. In a low key hand over following the sudden death of Mr. KK Modi, the Boards of both Godfrey Phillips India Ltd. and Indofil Industries Limited unanimously passed resolution on Dr. Bina Modi. She has been elected as the President and Managing Director of Godfrey Phillips India Ltd and Chairman and Managing Director, Indofil Industries Limited, effective immediately.
Dr. Bina Modi served as a Board Member of Godfrey Phillips India Limited and is also on the CSR Committee of the Company. Her commitment to social responsibility and her personal zeal drives the CSR programs with focus and with the underpinned values of the Group.
A successful entrepreneur herself, Dr. Bina Modi has founded and built several successful businesses; her Bina Fashions has a global market, and Ego Specialty Restaurant Chain, Dessange Salon and Beacon Travels are renowned in their respective industries. Her businesses are contributing to the legacy of US $ 1.5 billion conglomerate, Modi Enterprises. Dr. Bina Modi has been awarded the “Women of the Decade in Business & Leadership 2018” by Women Economic Forum, been conferred with the prestigious Achiever’s Award in 2019 and has also featured on ‘India’s Most Powerful Women’, a book by Prem Ahluwalia.
Dr. Bina Modi remarked on the occasion “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.”
About Modi Enterprises
Founded by Rai Bahadur Gujarmal Modi in 1930’s, Modi Enterprises is today multi-billion dollar global conglomerate, expanded and shaped by Mr. K K Modi, the founder’s eldest son and Chairman of the Group.
The USD 1.5 billion plus Group has diversified businesses across the country, mainly Modicare (direct selling), Modi Academic International Institute and KK Modi University (education), 24Seven (retail), Colorbar (cosmetics), Dessange (luxury services), Bina Fashions and Ego chain of specialty restaurants (hospitality) . Enterprises like Godfrey Phillips India (FMCG) and Indofil Chemicals (agro, specialty and performance chemicals) are renowned leaders in their respective fields.
One of the key strengths of the Group is having one of the largest set ups and capabilities for multi -product portfolio and multi-channel distribution in India. The manufacturing facilities of the Group are equipped with state-of-the-art equipment, top certifications and incorporate best practices like TQM, Haichi-Ban, 5S, Kaizen Teian etc. The Group has also invested in comprehensive R&D capabilities and state –of art facilities at both Godfrey Phillips India and Indofil Chemicals, and also employ some of India’s best scientists and experts.
Modi Enterprises is deeply committed to giving back to society and the environment where it operates in. Besides various CSR initiatives of the companies, the Group has its own Modicare Foundation that promotes education, youth programs, skill development and awareness for
women and children. The Group also supports a number of educational institutions, hospital services and charitable trusts.