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Godfrey Phillips: Plaintiffs Unconditionally Withdraw Suit in Delhi High Court
Godfrey Phillips India Limited has announced that the lawsuit filed against it by Twenty-Four Seven Retail Stores Private Limited and Mr. Samir Kumaar Modi has been unconditionally withdrawn. The withdrawal was recorded by the Hon’ble High Court of Delhi on April 8, 2026, following the original litigation disclosure made on December 24, 2024. This resolution effectively ends the specific legal dispute between the company and the plaintiffs. The withdrawal was executed under Order XXIII Rule 1(1) of the Code of Civil Procedure, 1908.
Key Highlights
Unconditional withdrawal of the suit by Twenty-Four Seven Retail Stores and Mr. Samir Kumaar Modi.
The Delhi High Court recorded the withdrawal order on April 8, 2026.
The litigation was originally disclosed to the stock exchanges on December 24, 2024.
Legal resolution removes potential litigation risk and associated legal costs for the company.
💼 Action for Investors
The removal of this legal overhang is a positive development for the company's corporate governance profile. Investors should continue to monitor any further developments regarding promoter-level disputes or management changes.