After the death of Srichand Parmanand Hinduja at the age of 87 on Wednesday in London, questions are arising regarding who will assume his role as the chairman of the Hinduja Group in the dynasty. According to a Bloomberg report, legal battles in recent years over control of investments spanning banking, media and energy still threaten to tear apart the once tight-knit group.
SP Hinduja was the eldest among four Hinduja brothers. After him, Gopichand Hinduja, 83, is the family’s oldest member. He and his two younger brothers — Prakash (77) and Ashok (72) – fought over the past three years with the patriarch and his daughter, Vinoo, over a letter signed by the four siblings that said assets held by one of them belonged to all.
The latest spell of power struggle emerged last month, even though the familty called a truce in November.
According to the Bloomberg Billionaires Index, the Hinduja family has a total net worth of $14 billion, which makes it among Asia’s top-20 richest families.
The Hinduja group has over 2 lakh employees globally. It also has holdings in companies like Ashok Leyland and IndusInd Bank, among others.
About SP Hinduja
Known affectionately as ‘SP’ among his business associates and friends, Srichand Hinduja was the eldest son of PD Hinduja, the founder of Hinduja Group. SP was the head of Hinduja Family and chairman of Hinduja Group and charitable Foundations.
After completing his education in 1952, SP joined his father in the family business.
Led by his vision and leadership, SP along with his brothers, Gopichand, Prakash and Ashok Hinduja, conceived and strategised the diversification and expansion of Hinduja Group.
Years of business experience in the free market as well as protected economies across Asia, the Middle East, Europe and the Americas shaped SP’s fundamental belief that a free market economy can improve tolerance and understanding between different people and cultures, thereby benefitting mankind.
Comments
0 comment