The dispute between the Hinduja brothers including Gopichand Hinduja, co-chairman of the Hinduja Group; Prakash, Srichand, and Ashok, has ended with all sides agreeing to halt litigations across Europe, for now.
This was disclosed by a London appeal judge on Friday while lifting reporting restrictions on court hearings centred around Srichand’s health and the care he was receiving.
Though the details of the truce agreement are not known, a spokesperson for the Hindujas said, “The Hinduja family matter regarding the health and welfare of SP has already been resolved amicably between all parties and today’s judgement solely concerned whether those matters should remain private. Today’s decision has no impact whatsoever on the ongoing care of SP Hinduja, on which the family is united, or on any business operations. The family looks forward to continuing a harmonious relationship in the future.”
According to a report by Bloomberg, the conflict among the four brothers stemmed because of a pact signed by them in 2014. The pact stated that ‘everything belongs to everyone and nothing belongs to anyone.’ Srichand and Gopichand live in London, Prakash resides in Monaco while the youngest sibling Ashok oversees their Indian interests from Mumbai. Gopichand, Prakash and Ashok had blamed their elder brother Srichand’s younger daughter Vinoo for the family feud. According to Srichand’s petition, the 2014 agreement has no legal effect and is not binding.
The combined net worth of the Hinduja family is over $15 billion. While the 2014 pact has been set aside for now, it is not clear if there will be a new agreement drawn to ensure a sustainable future for the Hinduja empire.