ITC and Godfrey Phillips India fell after the government announced a new excise duty on cigarettes effective February 1.
What do you think of the price reaction in these stocks?
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How is Lalit Modi still allowed to control Godfrey Phillips India?
It is emotional sell off with a lot of clarity still pending from the government
As long as the shareholding structure works and paperwork checks out regulators seem comfortable with him
If they froze assets, aren’t shares in his company assets? I don’t see why can’t they transfer his shares to government or back to the company?
KK Modi family holds controlling stakes and voting rights in Godfrey Phillips and has historically served on its board. Now control is through family shareholdings and trusts rather than personal presence.
asset freeze only restricts sale not ownership
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