Ambanis to Wadias, 10 family feuds in India's business houses

As a crack among the Singh brothers, Shivinder and Malvinder, comes to the fore, a look at the other times India's big business families saw in-house duels

Following a long drawn battle with outsiders, a crack emerged between the Singh brothers of Fortis on Tuesday when one dragged another to the NCLT. Shivinder and Malvinder have been embroiled in a web of corporate and legal hassles of late.

Yesterday's lawsuit is related to the financial troubles at the group businesses RHC Holding, Religare Enterprises and hospital chain Fortis Healthcare.

Shivinder Singh said he had filed a lawsuit against older brother Malvinder Singh, alleging “oppression and mismanagement” at their joint businesses.

Shivinder, who has decided to break business ties with his sibling, said the case, which also accuses former chief of financial services firm Religare Enterprises Sunil Godhwani, was filed in the National Company Law Tribunal, a quasi-judicial body for corporate governances.

Here are 10 famous public feuds in India's business families:

 

Rafale deal: In letter to Rahul Gandhi, Anil Ambani refutes Cong's charges

During the no-confidence motion debate, Gandhi had accused the Modi government of changing the deal to benefit 'one businessman'

Latest News : Billionaire Anil Ambani has written to Congress President Rahul Gandhi refuting allegations of his Reliance Group lacking experience to get the Rafale fighter jet deal and said the government had no role in French Group Dassault picking up his company as a local partner.

In a two-page letter written on December 12, 2017, Ambani explained to Gandhi, who has been attacking the government over the Rafale deal , why his Reliance Group bagged the multi-billion dollar project.

Invoking his family's "respectful relationship" with the Gandhi family over generations, Ambani said he was "personally saddened" by the "unfortunate statements" against him and his group by several functionaries of the Congress party.

"Not only do we have the necessary experience but we are also the leaders in several important areas of defense manufacture," he said in the letter written on the last day of campaigning for the Gujarat Assembly polls that were marked by political mud-slinging over the Rafale fighter jet deal.

He said Reliance Defence has the largest shipyard in the private sector at Pipavav in Gujarat and is currently building five Naval Offshore Patrol Vessels (NOPVs) for the Indian Navy and 14 Fast Patrol Vessels for the Indian Coast Guard.

Article Source : BS