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LONDON, Nov 11 (Reuters) – India’s billionaire Hinduja family has agreed to end a long-running legal battle over the future of its global business empire, as shown by the decision of the London court on Friday.
The Court of Appeal in London has largely rejected an appeal against reporting the controversy, which was argued in an expert court in a case focusing on the health of 86-year-old patriarch Srichand Hinduja.
Srichand’s brother Gopichand, 82, contested the power of attorney granted to Srichand’s wife Madhu and daughters, Vinoo and Shanu, in the Court of Protection, which ruled on the financial issues, livelihoods for people who cannot. so.
“Hinduja family is concerned with SP’s health and well-being [Srichand] It has been amicably resolved between all parties and today’s decision is the only consideration as to whether these matters should be kept separate,” a spokesperson for the Hinduja family said in an emailed statement.
The Hinduja family’s businesses span sectors including banking, chemicals and healthcare and employ nearly 200,000 people worldwide and their wealth places Srichand, Gopichand and Hinduja family at the top of the Sunday Times UK Rich List, with a net worth of over 28 billion pounds ($33 billion).
Judge Anthony Hayden said in the August ruling, published on Friday, that the needs of Srichand, who suffers from dementia, had been “confused in a family dispute”.
Hayden said in August that he was “forced to consider a placement in a public nursing home” for Srichand after his family refused to agree on how and where he would be released. .
“Today’s decision has no impact on the continued care of Mr SP Hinduja, on family reunification or on business matters. The family hopes to continue the good relationship and later,” added the spokesman for the Hindujas.
The proceedings in the Defense Court did not involve either Prakash or Ashok Hinduja.
The ruling, published on Friday, said the family asked the court in June to end “all disputes between them in all jurisdictions”, including one that began at London’s High Court in 2019 for Hinduja family property.
Srichand asked the court to declare that a letter dated July 2014 signed by him and his three brothers Gopichand, Prakash and Ashok stating that the properties in their names belonged to the four of them had no “legal effect”.
A 2020 judgment in the case said that his three brothers relied on the letter “as a basis for seeking to take control of Hinduja Bank, a property in [Srichand’s] one name”.
That dispute has now been settled, according to Hayden’s decision.
The Court of Appeal ruling said the Hinduja family had reached a “confidential agreement” to settle the lawsuits in London and abroad.
The 2020 lawsuit previously said the family was involved in litigation in Switzerland and Jersey.
Sam Tobin comments; Edited by Alexander Smith
Our Standards: Thomson Reuters’ Guardian Principles.
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