the noise about the money happens in the best of families. In India, however, assets and companies depend on it often. Because of Asia’s third-largest economy is still dominated by the large Clans, the traditions and, often, conglomerates call their Own. Within these large families, but a fight to the knife between siblings, or the parents that have made the company great often prevails, and the children studied with Papa’s money at Harvard.
Economics correspondent for South Asia/Pacific, based in Singapore.
F. A. Z.
The billionaire brothers Ambani went on for years as long as each other until the elderly mother called her boys, public order, and the billions were divided into two groups. The Tatas, not only to preach, the faithful parse of peace, divided in such a way that the intra-burst familial succession. And the Singh brothers stripped in public for months and missed it, almost, and business partners demanded more than half a billion of its hospital and pharmaceutical chain Fortis Healthcare.
Now the eyes are fixed on the textile group Raymond Group. Its founder, the aged Vijaypat Singhania entrusted the leadership three years ago to his son Gautam. But what about Olymp shirts and their owners, the Swabian Bezner family, well, went to India in addition, The Senior is fighting his company back.
The roots of the group date back to 1925. Today, the group from Bombay (Mumbai) has about 800 stores in 200 cities. Raymond-shirts are running in 55 countries around the world. Actually, everything runs fine: The annual report and the brand strategy just got prices, the profit increased in the final quarter of last year to 53 percent compared to the previous year, and sales rose 16 per cent to the equivalent of 232 million euros. Were it not for the boss. Because of Gautam Singhania, and a thorn in the eye of the father.
The Singhanias turning a large wheel. In addition to Raymond, the world market leader for suits made of worsted yarn, they have invested in many areas of the emerging economy is in need of cement, the milk industry, technology. Vijaypat be considered as the leader of the pack. And aspired always to Higher: it holds, since 2005, the world record for the highest flight in his hot air balloon in the colours of the rainbow.
Everything went well-until 2015 – as overlapping, he rubbed his share of the Company from 37 per cent to his son. The Senior figured that to get the he allegedly part housing said in Mumbai’s precious district of Malabar Hill, high above the sea. Finally, it is located in the family tower, JK House, with its 36 floors. But he had made, as Vijaypat says the bill without his son. Because of the directed the Raymond Board of Directors, the apartment but not far below market value – and here it comes to high two-digit million amounts, to the father.