Ruchir Kumar Modi, son of former IPL Chairman Lalit Modi has been appointed as an additional director of cigarette maker Godfrey Phillips India.
The board of the company has cleared Ruchir’s appointment is with effective from March 19, 2016.
As a gift from his father, Ruchir had received 2,000 shares in the company in the November last year. These shares amounted to 0.0038 per cent.
As of the quarter ended December 31, 2015, promoter Modi family group owns 43.50 per cent stake in the company, while Philip Morris Global Brands Inc owns 25.10 per cent stake.