New Delhi: The Godrej Group worth $ 4.1 billion, which stretches from soap and household appliances to real estate, towards split between brothers, the source is aware of the problem, quoting family external advice has been looking for a peaceful division of 124 annual conglomerals .
At present, this group is led by Industrialist Veteran Adi Godrej (79), which is the chairman.
His brother Nadir Godrej is the chairman of Godrej Industries and Godrej Agrovet.
Their cousins Jamshyd N Godrej is the Chair of the Godrej & Boyce Manufacturing Company, which is also a leading company of conglomerates, one of the oldest business houses in India.
It was founded in 1897 by Ardeshir Godrej’s serial-entrepreneurs, which after several attempts failed to fulfill success with the key business.
According to a report, this group is looking for a complete large-scale distribution between two groups – one led by Adi and Nadir, and others by Jamshyd and his sister Smitha Godrej Crishna.
When he gave comments, a joint statement by the family said, “The Godrej family has worked on a long-term strategic plan for the group for the past few years to ensure the value of its shares.” Without sharing detail further, the statement added, “As part of this exercise, we have also sought advice from external partners.
This discussion between the family remains sustainable.” People who are close to family, including Nimesh Kampani and Uday Boxes, along with famous personalities from legal fields such as Zia Mode of Azb & Partners and Cyril Shroff, are reportedly consulted by families for exercise.
According to the group, around 23 percent of the promoter holders in the Godrej group were held in trust investing in the environment, health and education.
Among the Group’s Main Companies is the Not Registered Engineering Company Godrej & Boyce Mfg Co.
Ltd.
and registered entities such as Consumer Products Godrej Ltd, Godrej Agrovet, Godrej Properties and Godrej Industries Ltd.
While there are cross-ownership in each company in each company.
Family Members, Adi Sides and Nadir Running Registered Entities such as Consumer Products Godrej Ltd, Godrej Agrovet, Godrej Industries Ltd.
On the other hand, Godrej & Boyce Mfg Co Ltd is under Jamshyd.
Patriarch Adi Godrej has gradually stepped aside while his children have taken various responsibilities in the group.
The oldest daughter, Dubash asked is the Executive Director and Chief Brand Officer for the group.
Nisaba Godrej’s youngest daughter is currently chairman of the Consumer Products Godrej Ltd, while Son Pirojsha is the chairman of the Godrej property.
Previously in August, Adi had circled as chairman and from the Directors of Godrej Industries Ltd., passed the stick to his younger brother Nadir.
While the Jamshyd Smitha sister has not played an active role in this business, her husband Vijay Crishna is the Non-Executive Director of Godrej & Boyce, in addition to being Director of Godrej Industries and Godrej Agrovet.
It can be understood that the implementation of divorment of division is being accelerated with the young generation of families increasingly involved in business and wants more clarity for responsibility and ownership.
Godrej Group Towards Family Split
