The judge said the three other brothers, Gopichand, Prakash and Ashok, tried to use the letter to take control of Hinduja Bank – an asset that was in Srichand’s sole name.
London| Hinduja family’s $11.2 billion fortune has come under the shadow of legal dispute as a letter signed by the four Hinduja brothers is at the center of the controversy.
As stated in this 2014 document, the assets held by one brother belong to all, and that each man will appoint the others as their executors. But now the 84-year-old patriarch of the family, Srichand Hinduja, and his daughter, Vinoo, want the letter declared worthless.
In a ruling delivered Tuesday by a London judge, the dispute between the U.K.-based family came to light. The judge said the three other brothers, Gopichand, Prakash and Ashok, tried to use the letter to take control of Hinduja Bank – an asset that was in Srichand’s sole name.
The judge said that Srichand and Vinoo want the court to rule that the letter should have “no legal effect” and cannot be used as a will. She said that Srichand had insisted as early as 2016 that the July letter doesn’t reflect his wishes and that the family’s assets should be separated.
The litigation will have no impact on their business and that the proceedings “go against our founder’s and family’s values, said the three brothers in a statement. They stressed that these principles have stood for decades, especially the idea that “everything belongs to everyone and nothing belongs to anyone.”
“We intend to defend the claim to uphold these dearly held family values,” the brothers said in an email, according to a report by Economic Times.
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