Billionaire Hinduja brothers end family feud on pact signed in 2014

The fight among Hinduja brothers was caused because of a pact signed by them in 2014 that said that 'everything belongs to everyone and nothing belongs to anyone'

Gopichand Hinduja, co-chairman of the Hinduja Group, along with Prakash, Srichand, and Ashok, famously known as the billionaire Hinduja family brothers, have agreed to end the family dispute on Friday, reported Bloomberg.

According to the report, the conflict among the brothers was because of a pact signed by them in 2014 that said that 'everything belongs to everyone and nothing belongs to anyone.

Srichand Hinduja's children reportedly complained that their family was being excluded from the group's enterprises and challenged the letter that served as the foundation for succession planning. Brothers Srichand and Gopichand live in London,  Prakash resides in Monaco while the youngest sibling Ashok oversees their Indian interests from Mumbai.

The Hinduja family, in terms of their net worth together, own around $15 billion and according to Forbes' Real Time Net Worth list, they are ranked 110 in the list of the world's richest personalities. The Old War Office building in Whitehall, which will house a Raffles Hotel, is one of the valuable London properties owned by the four billionaire brothers. 

A UK court filing in June 2020 revealed that a dispute had started between the eldest sibling Srichand, 86, with his three younger brothers over the ownership of a Geneva bank of the group. The conflict among brothers also cropped up over control of a bank that they have in Switzerland (Hinduja Bank). 

During the feud, Gopichand, Prakash and Ashok tried to use the 2014 letter to take control of Hinduja Bank which was solely in Srichand's name which lead the family fight to a legal battle, according to the court battle, the Bloomberg report stated. Currently, Shanu Hinduja, the other daughter of Srichand is the chairperson of Hinduja Bank and her son is the CEO.