India’s billionaire Hinduja family has agreed a settlement around the world in a protracted dispute after a legal battle over the future of their global business empire, a London court ruling published on Friday showed.
The Court of Appeals in London dismissed an appeal on restrictions on reporting the dispute, which was challenged in an expert court in a case centered on the health of 86-year-old Vice-Chancellor Srichand Hinduja.
Srichand’s younger brother, 82-year-old Gopichand, had challenged in the Court of Protection the validity of the permanent power of attorney granted to Srichand’s wife Madhu and later to their daughters, Vinu and Sanu, for those unable to undertake financial or welfare matters. decides on. So.
“Matter regarding health and welfare of Hinduja family SP” [Srichand] It has already been resolved amicably between all parties and today’s decision fully concerns whether those matters should remain private, a spokesperson for the Hinduja family said in an emailed statement.
The Hinduja family’s business spans sectors including banking, chemicals and healthcare and employs around 200,000 people worldwide and their vast wealth has placed Srichand, Gopichand and the Hinduja family as the toppers in this year’s The Sunday Times UK Rich List. above, whose net worth is greater than this. 28 billion pounds ($33 billion).
Judge Anthony Hayden said in a ruling in August, which was published on Friday, that the needs of Srichand, who suffers from dementia, had become “marginalized in a family dispute”.
Hayden said in August that he was “inspired to consider appointment to a public nursing home” for Srichand because his family did not agree on how and where he should be treated.
A Hinduja spokesperson said, “Today’s decision has no impact on Mr. SP Hinduja’s ongoing care, on which the family is united, or on any business operations. The family looks forward to continuing cordial relations in the future.” “
Prakash or Ashok Hinduja were not involved in the proceedings of the Court of Protection.
Decisions published on Friday showed that the family had asked the court in June to end “all disputes between them in all courts”, including the one that began in the High Court of London in 2019 over the Hinduja family’s assets.
Srichand had asked the court to pronounce the verdict that a letter dated July 2014 signed by him and his three brothers Gopichand, Prakash and Ashok said that any property held in their names belonged to the four of them, “any of them”. had no legal effect”.
A 2020 judgment in that case said his three siblings had relied on the letter “as a basis for taking control of Hinduja Bank”. [Srichand’s] single name”.
Hayden’s decision states that that dispute has now been resolved.
The Court of Appeal ruling said the Hinduja family had reached “a confidential settlement” to settle the litigation in London and abroad.
The 2020 ruling previously stated that the family was engaged in litigation in Switzerland and Jersey.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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