Ambani, Bajaj, Birla, Chhabria, Dalmia, Modi, Nanda, Singh, Shriram, Thapar... The list of Indian business families that split assets in acrimony is indeed long. Pitting father against son, brother against brother, these inheritance battles have been bitter, longwinded and, on many occasions, ended up in court. In many cases, they have eroded shareholder value and have been destructive to the businesses.
Also See The Munjals (Graphics)
One name that is unlikely to be added to this list is that of the Munjals of the Hero Group. Here, uncles and cousins have divided nearly 300 familyowned companies and assets amicably, and in cashless settlements, according to an emailed statement from the group, which runs India’s largest motorcycle and bicycle firms. Like their main twowheeler rival Bajaj, but in a far more peaceful manner, patriarch Brijmohan Lall, 87, has untangled crossholdings in group companies and consolidated ownership among various branches of the family. Though the Munjals haven’t revealed much in details, Mint looks at the evolution of the group and presents an easy reckoner on which branch owns what portion of the business.
Inputs by Ravi Krishnan, Ashwin Ramarathinam, Tejeesh Behl & Samar Srivastava
Graphics by Ahmed Raza Khan/Mint