Gulshans Son, Brother In Ownership Brawl

Bhushan Kumar, son of the late audio cassette czar Gulshan Kumar, is all set to take the fight into the den of his uncle, Gopal Kishan, who has been laying claim over Tony Electronics and Jagdamba.

We will send an official company notice on February 24 asking him (Gopal Kishan) to stop making an issue over Tony Electronics and Jagdamba or hell loose the rights to even use the T-Series logo on items manufactured by his companies, Bhushan Kumar told Business Standard.

Gopal Kishans two legally-owned companies Gopal Soaps and Rajni Industries make soaps and dhoopbattis, respectively and use the T-Series logo for which they pay a royalty of Rs 5 lakh per annum

 

Bhushan Kumars move is in line with a clause in the informal agreement which had been hammered out last year between Gopal Kishan and his father Chander Bhan, his brothers Kishen Kumar and Darshan Kumar, and nephew Bhushan Kumar.

The agreement, according to Gopal Kishan, however, could not be formalised as the share transfers of various companies mentioned in the deal were not formally transferred.

The agreement states: It is made clear that M/s Super Cassettes Industries Ltd (SCI) shall have the right to withdraw the trademark T-Series at any point of time without any prior notice or condition.

A belligerent Bhushan Kumar accused by his uncle Gopal Kishan of attempting to usurp all the family business in which everybody had contributed also sounded another warning. Kumar said: If he (Gopal Kishan) does not pay heed to the notice within a week, well send a legal notice and cut off his right to use the T-series logo. Despite repeated attempts Gopal Kishan could not be contacted for comments.

Last week, in an open war in the late Gulshan Kumars family, Gopal Krishna had refused to give up control over Tony Electronics and Jagdamba.

Not only had Gopal Krishna refused the deal offered to him as a sop to give up control over the two companies, he also vowed to fight to the finish with his nephew.

However, the pressure of losing the right to use to T-Series may just force Gopal Krishna to give in. In Tony Electronics, while Bhushan Kumar had stated that his mother and two other uncles were equal partners, Gopal Kishan maintains that his brother Kishen Kumar is the majority stake holder with a 60 per cent stake.