Modicare J&K India
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Modicare is one of India’s leading Direct Selling Companies and is a major player in an industry dominated by multinational giants.
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The Modicare Foundation was set up in 1996 to promote awareness of HIV/AIDS, recognising it as a major threat to the lives of people. 1% of Modicare’s annual sales are contributed towards the Modicare Foundation. With its main focus on adolescents, the foundation has 300,000 people going through the program every year. In fourteen years, since its inception, the Foundation has done extensive work
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In April 2010, Krishan Kumar Modi, Chairman of Modi Group announced the succession plan for his business empire, quoting to Media about his business to be shared equally among his three children[1] which at present his run by K K Modi Family Trust, of which he is the Managing Trustee.
In June 2011, The Modi Group is planning to acquire majority control in Godfrey Phillips India from Philip Morris, the American Tobacco Manufacturer.Both Group had 36% share in the company until in 2009, Modi Group acquired additional 10.8% stake in GPI from Philip Morris for US $ 27 million, taking its holding to 47%. As per the Joint Venture agreement, Modi Group has right to take up his holding to 51% by buying further into Philip Morris' holding to get a majority control of the company. The deal will bring down Philip Morris' stake to 21%.
http://en.wikipedia.org/wiki/Modi_Group