A family feud has broken out in the Hinduja business family over its 106-year-old business empire valued at almost $11 billion. The four Hinduja brothers – SP Hinduja, GP Hinduja, PP Hinduja and AP Hinduja – are locked in an ongoing litigation in the United Kingdom.
Eighty-four-year-old SP Hinduja, the eldest of the four brothers, along with his younger daughter Vinoo, have filed a litigation in the High Court in England challenging the legal validity of an agreement signed among the brothers in 2014. The agreement states that assets belonging to the family will not be divided among the brothers.
Chalked out on 2 July 2014, the agreement also states that assets held in any single brother's name belong to all four brothers, reports The Hindu-Business Line.
The three younger brothers, GP Hinduja (80), PP Hinduja (75) and AP Hinduja (69) want to stick to this 2014 agreement but SP Hinduja and his daughter Vinoo want it declared null and void on the grounds that it does not reflect the eldest brother's wishes.
"It will be apparent from the Judgment of the High Court in England, that Mr SP Hinduja''s health has been deteriorating for a number of years suffering from Lewy Body disease, which is a form of dementia. Vinoo, his younger daughter, acting as his Litigation Friend, is bringing these proceedings on his behalf", said the three younger brothers in a statement on the litigation.
According to Hindu-Business Line report, the feud in the family has been brewing for months and started with Vinoo filing a litigation against her uncles for taking over a Hinduja Bank in Switzerland.
"Vinoo claims the bank is in her father’s name. There is also a dispute over a property in Jersey", a source told the paper.
"It is very unfortunate that these proceedings are taking place as they go against our founder’s and family’s values and principles that have stood for many decades, especially, ‘everything belongs to everyone and nothing belongs to anyone", the statement by GP Hinduja, PP Hinduja and AP Hinduja further said.
The Hinduja group is an Indian conglomerate headquartered in London. It is involved in a number of businesses like banking, foundries, motor vehicles, oil, trading, etc.
(With inputs from IANS and Hindu-Business Line)
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