public class Record {
        //...
        public Record(string name, string phone) {...}
        public string Name {...}
        public string Phone {...}
    }

    private void Form1_Load(object sender, System.EventArgs e) {
        Record[] records = {new Record("Alex Cooper", "123-456"), 
            new Record("Alicia Walker", "123-764")
        };
        //Bind the grid control
        gridControl1.DataSource = records;
    }

    private void button1_Click(object sender, System.EventArgs e) {
        ColumnView View = gridControl1.MainView as ColumnView;
        int rowHandle = View.FocusedRowHandle;
        //Check if the focused record is a group row, if so exit
        if (rowHandle < 0) return;
        //Get the row by its handle
        Record row = View.GetRow(rowHandle) as Record;
        //Change the Phone field via the bound data source
        row.Phone = "765-123";
        //Refresh the grid control
        gridControl1.RefreshDataSource();
    }

    Public Class Record
        '...
        Public Sub New(ByVal name As String, ByVal phone As String)
        '...
        End Sub

        Public Property Name() As String
        '...
        End Property

        Public Property Phone() As String
        '...
        End Property
    End Class

    Private Sub Form1_Load(ByVal sender As System.Object, ByVal e As System.EventArgs) _
    Handles MyBase.Load
        Dim records As Record() = {New Record("Alex Cooper", "123-456"), _
            New Record("Alicia Walker", "123-764") _
        }
        'Bind the grid control
        GridControl1.DataSource = records
    End Sub

    Private Sub Button1_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) _
    Handles Button1.Click
        Dim View As ColumnView = CType(GridControl1.MainView, ColumnView)
        Dim rowHandle As Integer = View.FocusedRowHandle
        'Check if the focused record is a group row, if so exit
        If rowHandle < 0 Then Return
        'Get the row by its handle
        Dim row As Record = View.GetRow(rowHandle)
        'Change the Phone field via the bound data source
        row.Phone = "765-123"
        'Refresh the grid control
        GridControl1.RefreshDataSource()
    End Sub

// The collection of Record objects which supports change notifications.
public class Records : CollectionBase, IBindingList {

   private ListChangedEventHandler listChangedHandler;
   public event ListChangedEventHandler ListChanged {
      add { listChangedHandler += value; }
      remove { listChangedHandler -= value; }
   }

   // Fire the ListChanged event.
   internal void OnListChanged(ListChangedEventArgs args) {
      if (listChangedHandler != null) {
         listChangedHandler(this, args);
      }
   }

   // The method is called when a Record is removed from the collection.
   protected override void OnRemoveComplete(int index, object value) {
      OnListChanged(new ListChangedEventArgs(ListChangedType.ItemDeleted, index) );
   }

   // The method is called after a new Record is added or inserted.
   protected override void OnInsertComplete(int index,    object value) {
      OnListChanged(new ListChangedEventArgs(ListChangedType.ItemAdded, index) );
   }

   // Implement other methods.
   public void Add(Record record) {
      base.List.Add(record);
   }      
   public Record this[int idx] {
      get { return (Record) base.List[idx]; }
   }
   public void AddIndex(PropertyDescriptor pd) { throw new NotSupportedException(); }
   // ...
}


// The class representing an item for the Records collection
public class Record : IEditableObject {
   private string name;
   private DateTime date;
   // The owner.
   private Records records;

   public Record(Records records) {
      this.records = records;
      this.date = DateTime.Now;
   }

   // Invoke the ListChanged event for the owner.
   private void OnListChanged() {
      int index = records.IndexOf(this);
      records.OnListChanged(new ListChangedEventArgs(ListChangedType.ItemChanged, index));
   }

   public string Name {
      get { return name; }
      set { 
         name = value; 
         OnListChanged();
      }
   }

   public DateTime PurchaseDate {
      get { return date; }
      set { 
         date = value; 
         OnListChanged();
      }
   }

   // ...
}

' The collection of Record objects which supports change notifications.
Public Class Records
   Inherits CollectionBase
   Implements IBindingList

   Public Event ListChanged As ListChangedEventHandler Implements IBindingList.ListChanged

   ' Fire the ListChanged event.
   Friend Sub OnListChanged(ByVal args As ListChangedEventArgs)
      RaiseEvent ListChanged(Me, args)
   End Sub

   ' The method is called when a Record is removed from the collection.
   Protected Overrides Sub OnRemoveComplete(ByVal index As Integer, ByVal value As Object)
      OnListChanged(New ListChangedEventArgs(ListChangedType.ItemDeleted, index))
   End Sub

   ' The method is called after a new Record is added or inserted.
   Protected Overrides Sub OnInsertComplete(ByVal index As Integer, ByVal value As Object)
      OnListChanged(New ListChangedEventArgs(ListChangedType.ItemAdded, index))
   End Sub

   ' Implement other methods.
   Public Sub Add(ByVal _record As Record)
      MyBase.List.Add(_record)
   End Sub

   Sub AddIndex(ByVal prop As PropertyDescriptor) Implements IBindingList.AddIndex
      Throw New NotSupportedException
   End Sub
End Class

' The class representing an item for the Records collection.
Public Class Record
   Implements IEditableObject
   Private _name As String
   Private _date As DateTime
   ' The owner.
   Private _records As Records

   Public Sub New(ByVal _records As Records)
      Me._records = _records
      Me._date = DateTime.Now
   End Sub

   ' Invoke the ListChanged event for the owner.
   Private Sub OnListChanged()
      Dim index As Integer = _records.IndexOf(Me)
      _records.OnListChanged(New ListChangedEventArgs(ListChangedType.ItemChanged, index))
   End Sub

   Public Property PurchaseDate() As DateTime
      Get
         Return _date
      End Get
      Set(ByVal Value As DateTime)
         _date = Value
         OnListChanged()
      End Set
   End Property

   ' ...
End Class