Property Matters

As the second generation takes charge, the cracks in Indian business families are painfully evident. The earlier generation8212;the Birlas, the Shrirams, and even the Modis8212;worked out peaceful settlements, but the next-gen has not been that lucky. Dev Chatterjee looks at some battles in the works

AMBANI VS AMBANI

In the late 1990s, Reliance stunned the financial markets with a 100-year bond. While the company remains extremely healthy, the group split less than a decade later. Dhirubhai Ambani8217;s two sons Mukesh and Anil have famously parted ways after a vicous corporate battle. And with issues8212;like the supply of gas from Mukesh8217;s gas fields to Anil8217;s power projects8212;continuing to fester, the last chapter in the Anil vs Mukesh saga is yet to be written.

SINGH VS SINGH

For the last 12 years, India8217;s largest drug maker Ranbaxy has been at the centre of a Father versus Son succession spat. The three sons of Ranbaxy founder, Bhai Mohan Singh8212;the late Parvinder, Analjit, and Manjit8212;fought over his shares. Recently, and soon after Bhai Mohan Singh8217;s death, Analjit Singh, who runs Max Healthcare, and his nephews Malvinder and Shivinder Singh reached a settlement and have decided to withdraw 33 cases8212;including assault and criminal intimidation8212;filed against each other. Here too, the story isn8217;t over as Manjit Singh, the third son of Bhai Mohan, has still not given his seal of approval to the agreement.

BIRLA VS LODHA

India8217;s most respected and oldest business family, the Birlas, got the shock of their lives when they found that wife of late M P Birla had left all her businesses to close confidant Rajendra S Lodha. With a messy battle in courts underway8212;the Birlas regrouped and filed a slew of lawsuits against Lodha8212;the Birlas want the funds to go to charity. Lodha obviously disagrees and controls all the M P Birla Group companies. And the battle continues.

BAJAJ VS BAJAJ

For once, outspoken chairman of Bajaj group Rahul Bajaj was speechless. As Rahul was busy making Bajaj Auto India8217;s second-largest two-wheeler maker, in walked younger brother Shishir asking for his share. Shishir, along with his son Kushagra, wanted an identity of their own. An agreement brokered by politician Sharad Pawar resulted in Rahul buying Shishir8217;s shares in Bajaj Auto and the latter buying Bajaj Hindustan8217;s shares. But some financial nitty-gritties remain.