This is an audio transcript of The Morning Brief podcast episode: The Hinduja hullabaloo​

Arijit Barman 0:04
From the biggest defense scandal in India to the Islamic Revolution in Iran from a Rao over issuance of British passport to suicide pacts by Gen next, the for Hinduja brothers Srichand Gopichand, Prakash and Ashok usually a perfect picture of brotherhood in business have weathered many a storm in their lives. But never in their wildest dreams did they ever imagine their bromance would brew such acrimony that could Splinter the 108 year old Anglo Indian Empire spanning 38 countries, with charges of misogyny, misappropriation of funds, and messy legal battles across Europe.

BG 0:55
You see, we believe in one thing in life and in our family, I think it's the only family in the world where we don't have shareholding. Nothing belongs to anyone, and everything belongs to everyone in the family. And whatever we have. It is meant for society, and it has to be given away.

Arijit Barman 1:14
This seemingly innocuous quote, inspired by Alexander Dumas says ultimate bromance adventure, the three musketeers is at the nub of it all, and may soon lead to a split in assets, operations, and $14 billion of their combined wealth that makes the Hinduja brothers, Britain's richest family that lasted for over a century, from the shared family homes in London, Mumbai, and Geneva. And last Friday, the laundry full of dirty linen got exposed to the public at large.

BG 1:53
It's very simple. It's 2014 document or a letter, whatever you might say that was signed by all the four brothers representing the Hinduja empire to the effect that everything belongs to everyone, and nothing belongs to anyone. So that was the family's philosophy, the guiding force, and very importantly, this gets lost somewhere that they will be the executors of each others will. So that was the arrangement that they had sought. But what happened in 2019 was Srichand approached the court through his daughter saying that the legal validity of that agreement is questionable, and that they don't want to adhere to it. And that was tested by the other three younger brothers, who also I must add, at that very moment said that Srichand Hinduja was not being guided properly and that his daughters are not good enough to represent him. So the effect of that legal case was taking the family into the direction of a division. And that's what the three younger brothers didn't want. And that's how it called what started.

Arijit Barman 2:58
It's Thursday 17th of November. You're listening to the Hinduja Hullabaloo on The Morning Brief from the economic Times. I am Arijit Barman. In this episode, we speak to the very man who was the first to make this high profile, but private feud public breaking the story in 2020. That's Danish Khan, and ask him why the fight has become so ugly. Is there a possible room for reconciliation, or the mistrust now runs so deep that the spat is bound to lead to a split and an ugly one at that too where do the two Hinduja factions go from here? And more importantly, where do the public sympathy lie in this battle that is fast emerging to be won against patriarchy, and privilege.

BG 4:00
As per reports, Hinduja brothers are battling over $11 billion. The three brothers meanwhile, are quoting a 2014 letter saying all assets of the group are owned by each of them Hinduja groups patriarch and his daughter wants the letter to be declared worthless. A UK High Court has appointed SP Hinduja's daughter to act on his behalf.

Arijit Barman 4:22
My former times group colleague from Mumbai Mirror Danesh, now lives in London, and his book Escaped. The true stories of Indian fugitives living in London is a riveting read Danish Welcome to The Morning Brief.

Danish Khan 4:39
Thank you very much Arijit.It's a pleasure.

Arijit Barman 4:42
You're saying it's Srichand Hinduja, who's the patriarch, the eldest of the four who went to court or was it his daughters who actually went to court on behalf of their father, who they claimed was very unwell

Danish Khan 4:59
It's a difficult question to answer, actually. But on paper's it was Srichand Hinduja and they were the legal friend, the daughter. And the younger brothers challenged that particular action as well, which the court did not accept. So they agreed that the daughter can represent Srichand Hinduja. So by that judgment, it inevitably means that it was Srichand Hinduja, stroke his daughter, and that's how the matter has been proceeding in the Chancery Division.

Arijit Barman 5:28
So this happened in sometime in 2020 2 years ago. And you know, the entire field came out in the open, there were a lot of whispers before that all is not well, in fact, in 2018, there was a case filed in Switzerland, where first signs of a simmering discontent probably in the family had surfaced. But this particular matter came to force or came into focus in 2020. Cut to last Friday, what happened last Friday?

Danish Khan 6:02
Yeah, it gets a bit complex, actually. But yes, the high court here, a three judge bench ruled that the proceedings that were going on in the Court of Protection, which is a separate set of proceedings, the records of those proceedings should be allowed to be set out in the public, which is what the family was not very keen about. So the judgment, in effect, then allowed the proceedings of the Court of Protection case to be out there in the public, which kind of showed more light as to what exactly is the issues at hand? How deep is the divide? How deep is the crack in the family, and also the sad aspect that Srichand Hinduja's interest, his own health interest was perhaps not given due importance as it should have? And if I may, just a little bit of context Arijit. You're absolutely right. In fact, I remember breaking this story by reporting in the Mumbai Mirror in June 2020. But that case, was filed in 2019. In June 2020, the High Court gave this order, and because that judgment came out in a public way, that kind of gave us more chronology, to the dissent within the family. And that judgement established that the daughter can act on behalf of Srichand Hinduja. Once that judgement came, people came to know that there are problems in the Hindu family it was building up, as you rightly said, but in the same month of June 2020, Gopichand Hinduja approached the Court of Protection, and there he logged proceedings saying that Srichand Hinduja, the patriarch, the eldest brother, who has given this lasting power of attorney that was challenged by Gopichand Hinduja saying that that is not valid. So while the Chancery Division came out with a judgment of forming the daughter to be the legal friend of Srichand Hinduja and then the matter will have proceeded further about the business empire who gets what and whether the 2014 letter is valid or is not valid. So Srichand Hinduja became the protected person Gopichand Hindujas application was to the effect that Srichand Hinduja's lasting power of attorney is not valid. So there were two sets of proceedings that started

Arijit Barman 8:25
but the same Gopichand Hinduja in June of 2022, which is six months ago in the Chancery Court finally accepted that the 2014 letter, which almost resembles the Three Musketeers in one for all All for one Moto, that is not binding on the SP Hinduja side of the family, which is his wife and the two daughters. Correct.

Danish Khan 8:52
Technically speaking, that is still very confidential. We don't know what exactly it spells out. But surely there has been some sort of arrangement, some sort of compromise that has been worked out. And there seems to be some dichotomy to Gopichand Hinduja and the other brothers came out with a statement to the effect that there is a compromise the the eldest brother's needs are taken care of the daughters of Srichand Hinduja, on the other hand, said that the larger modalities of the compromise still needs to be worked out, although they are happy that Srichand Hinduja's arrangements have all been finalized.

Arijit Barman 9:28
I'll get into that, but just for our listeners, who are not very familiar with the UK courts and the legal system there. So what you're saying is there are two major or two strands of cases one is being fought at the Chancery Court, which is a more commercial dispute, which is division of assets. The other which is the the court of protection is basically about taking care of the physical mental and financial needs of the patriarch SP Hinduja. And taking care of his well being.

Danish Khan 10:07
That's that's a correct way of putting it. But what has happened is because it pertains to the same family, the main players are the same in both the cases and of course, their interests are aligned. What was a bit unfortunate is that the proceedings in the court of protection somehow started mirroring what was going on in the Chancery Division, because Srichand Hinduja was suffering from dementia, and he was hospitalized. But the issue was after being hospitalized, there came a time where it was important for him to be moved out of the hospital, because as the judge says, in the judgment, that the hospital was not the best place for him to be there because he did not require medical attention. What he needed was care and a homely atmosphere. And the family, it seems Arijit was not able to come up with a plan to ensure where Srichand Hinduja will go after his discharge from the hospital. And that was happening because they were not agreeing on a wider and whole host of issues. So the Court of Protection where the proceedings were the judge there because sense of discomfort from the judge, and also from the official solicitor who was representing the interests of Srichand Hinduja that a there were reporting restrictions, which is usually the cause, because in the case of a protected persons, you cannot just give out details like his name or what exactly he suffers from and all of that, but the judge in his wisdom gave out enough indications in his judgment that the family members were somehow acting in a way that was not keeping Srichand Hinduja's interest topmost, that they were rather aligning their interest. In the other case, the commercial case, as you eluded, that was going on and what was going on in the Chancery Division was reflected in the Court of Protection proceedings, which meant that Srichand Hinduja's well being was not given the importance it deserved,

Arijit Barman 11:59
which is why perhaps, initially, the court protection allowed the daughters to be his father's legal guardian, but subsequently appointed a lawyer to represent SPS interest because the court wanted someone exclusively for SP. And that did not necessarily have to be his daughter's

Danish Khan 12:23
Arijit And that's, again, a very unfortunate development. So as we have been speaking, the daughters were very much there on record as someone who are representing the best interest of Srichand Hinduja But in Feb, 2021, actually, the daughters disclaimed the lasting power of attorney. So if I could just explain very quickly, the lasting power of attorney is basically wherein they make someone their attorney to take care of their financial and their other needs. So the daughters were the lasting power of attorney who appointed but they had to disclaim that role in Feb. 2021, after it emerged that the daughters actually used assets or money belonging to Srichand Hinduja to fund their own litigation and some other expenses as well. Now, by virtue of doing that, it shows to the court that you do not have the interest of the protected person at the top. And that meant that they have to voluntarily then leave that position. And as a result, the court had to appoint official solicitor, and there were further developments.

Arijit Barman 13:25
I want to understand one thing, there were multiple cases filed by both sides in multiple jurisdictions. One of the reasons is a they are domiciled in different countries, B, they run a global empire. In India, we have several listed companies, but their businesses in the Middle East, they have businesses in UK, they have businesses in Switzerland. So now, we are only talking about the London courts, the British law has everything got folded into two major cases in London, one is on the personal side protection court and the other, which is the commercial dispute. And London seems to be the epicenter of all the action.

Danish Khan 14:11
Well, it's absolutely London is the epicenter and London is a global powerhouse as far as arbitration and as far as court cases are concerned, because simply because the parties concerned find the English courts that much more welcoming. And also, of course, the process is quite Swift. But nevertheless, both the elder brothers Srichand and Gopichand are based very much here in UK and that becomes the natural course. But the trial in the chancery court that was supposed to take place in 2023. And mind you Arijit it was going to be an eight week trial. So you can imagine the amount of paperwork, the amount of barrister, imagine the amount of work and the amount of money that will have gone into that and of course, apart from the fact that so much of family history and details Which by the way, they have been exemplary in hiding away, which is the hallmark of a united family, all of that could have come out. So by virtue of this confidential agreement, that trial has been vacated in the Chancery Division. So we have to still see what happens next, the Court of Protection proceedings will still be on because Srichand Hinduja still clearly needs the courts supervision,much depends on the deal that is being thrashed between both the sides, what are the details of that, and once that comes out, there might be something more in the pipeline,

Arijit Barman 15:33
the Hinduja Empire as we know it, $14 billion and counting of combined wealth footprint across 40 countries, close to a dozen companies, half of which listed that empire is poised to split.

Danish Khan 15:50
Well, that's what observers say origins, it's very difficult. I mean, just to put some perspective, so one party spent, for example, 13 and a half million pounds, just one year on legal expenses. So you see the amount of intricate details that have gone into espousing their respective stand now that enormity of emotions, which we get a glimpse of by the huge legal bill just says that, you know, it's very difficult to really mend once the glasses are broken, you know, it's a very difficult exercise to get them all together. I mean, next to impossible, and the family has huge assets across it will be difficult to have a definite sort of a controlling arrangement. And people say that division is inevitable, but we'll but we never know for sure what happens.

Arijit Barman 16:38
Is there a deadline by when there will be clarity is there you know, and if so, if they fail to read such a settlement, would they be back in court.

Danish Khan 16:48
So basically, what has happened is there has been a little bit of timeline that I have managed to sort of, you know, get my hands on. So for example, the heads of terms what's currently intended to have taken place by first November 2022. But this is a crucial month, this is a month when that judgement has come out, which has shown the extent of cracks within the family. This is the month when they were supposed to come up in an agreement substantially on what those heads of terms would be, inevitably, if any party is unhappy, it's anyone's guess they will definitely come back knocking on the courts and things will start again, unless as I said that the uncles and the elder brothers daughters, they come to some sort of an arrangement, it looks inevitable that that they will come back to the court unless there is a miracle in the offing.

Arijit Barman 17:35
Yeah. But if they do that, then the 2014 document will not be binding on SP side, because GP has told the same court that the family has set aside that private agreement, at least it's not binding on SP and her two daughters and wife.

Danish Khan 17:55
Well, that seems to be at the heart of it, because the daughters have said that, while all that principle is fine. But in reality, what has happened is we have been squeezed out, we were struggling to get our expenses, I'm paraphrasing, but things to that effect. And that has effectively happened because of this particular agreement. They said that worked against their as long as their father was in controll in command, perhaps things were different. This is the traction that I'm getting. But now that the Father is not in the best of health, they have been feeling that pinch. So it's in their interest to ensure that that 2014 A letter or the agreement, whatever you might say, is not put into practice is not something that is operationalized. But of course the younger brothers deny that

Arijit Barman 18:41
Darnish, I want to understand let's broad base this discussion a bit. You live in London, this matter is going on for a while now. Where does the public sympathy lie? Is it with the daughters? Clearly they seem to be the underdogs. Because around the world, we see that I don't want to sound sexist, but people do. Or even the courts now take issues regarding women, their inheritance rights very, very seriously. And they override these family pacts, these private arrangements. I think even in the case of some of the royalty or royal members across Europe, the court has taken a very contrarian stance and been very pragmatic about it. So what's the public mood?

Danish Khan 19:28
Yes. So you know, no matter what agreement or arrangement families or brothers or uncle's and other family members might have, it has to answer the right things, natural justice and gender issues. All of that has to be considered you can't just throw them into the sea, sadly, in this case, I mean, the first reaction if we can you know use the British paper, that's some sort of indication that actually did not show the entire Hinduja family in a good light because in this country Arijit There is a huge issue about care about social care. So for example, the hospitals here are full with people who do not need to be in the hospitals, because they have undergone their treatment, they now need to go back to their homes. And that's the first thing that struck the British public here that we are talking about a family, which is the richest family as per the Sunday Times riches list. And there is a situation where the patriarch of the family Srichand Hinduja has been lying in hospital when that bed could have been used for someone else who needs hospital treatment. So that's sort of the first reaction that came from the British press, and from the British public.

Arijit Barman 20:39
So they castigated the daughters or they castigated the brothers.

BG 20:43
They castigated the entire Hinduja family because the family was together, they were living as a unit. And because now there was some divisions and issues within the family, they could not come up with a plan early enough to ensure that Srichand Hinduja did not have to live. I mean, there are talks that perhaps there is a little bit of gender issue as well, because sons are looked upon as natural heirs as as compared to daughters, there could be those issues as well. We can't say for sure, but But definitely, it's an it's an Indian family, again, that we're talking about and those values and those cultural norms do come up. And the Hindujas are no different, I must say.

Arijit Barman 21:20
And you've touched a very, very important point of this, because a lot many won't recall that SP lost his son who killed himself along with his if I'm not mistaken, either fiancee or newly wedded wife in Mauritius, or Maldives there was a global manhunt because he married against his family's wishes, allegedly, and Srichand and his brothers used all the powers and influences that they had at their disposal. And I do remember if I'm not mistaken, when they found out where he was, and they wanted to actually get him back to the country cancel the wedding, the son realized he was trapped. And both he and his lover killed themselves. Tragic. It devastated SP never recovered from it. But it also shows how deep these issues are in these families.

Danish Khan 22:19
Well, yes, absolutely origins. I mean, so I think the lover, she didn't die. Fortunately, she was saved, but Dharam Hinduja and the lover, some say they got married as well, they entered a suicide pact, and they burned themselves. Dharam Hinduja was then flown from Mauritius, to UK, Mauritius, or wherever they entered into that suicide pact, he was flown to UK for treatment. But he sadly passed away just two, three days after he was you know, admitted to that hospital here in the United Kingdom. But then that, again, shows, you know, the rigidity or the cultural norms that dictates so many of us, right, and those are things that are universal, you may be the richest person you may be, you know, a middle class or whatever. But these are universal issues, cultural norms adhering to features that you think are acceptable. And all of that did take a toll on the family that was in the early 90s. When this took place Dharam Hinduja sadly passed away. So yes, you are right. And and some might say that there is an echo off and sort of a cultural norms, because again, Srichand is left with two daughters now at the moment, he does not have a son. So there are talks that perhaps it's also related to that aspect that you know, there are no sons or beta nahi hain, if I may use those in the words

Arijit Barman 23:36
in UK, do they actually see this as a fight against patriarchy?

Danish Khan 23:43
Well, from what I understand, as of now Arijit it seems to be more like a problem with him, the brothers, you know, as I said, the conception of the Hinduja Empire is one of these four brothers who have always been together. And these division or these court cases are seen more through the microscope of that there's some problem in the Hinduja family. And that's partly to do with the fact that the second generation is not that well known. So for example, Srichand's daughters, they are not public figures, they haven't they are not largely seen in charitable events or in parties, or they're not the social butterflies, where they get that kind of attention in the press. So the patriarchy model has not really been put in action. So far, it might change. But primarily, the entry point for the wider public hear about the Hinduja controversy is that there's a problem between the brothers. So it's with these four brothers, and there's some issue that's going on between them and they have not been able to sort out among themselves that has that has been the case.

Shanu Hinduja 24:42
To me. It's not about the past. It's about me wanting to know if these circumstances will be changed by the people who don't want this equality because all they're doing, they're wasting our time in wanting to do this battle instead of using our time To create more economic growth and this way the families prosper more.

Arijit Barman 25:05
That was Shanu Hinduja, the eldest daughter of SP Hinduja, from an earlier interview with me from 2020, at the Economic Times women's forum. I also want to understand from you about the politicians historically, the Hinduja family has been very close to the conservatives, James Cameron, a friend of theirs Boris Johnson, a regular as their grand Diwali party. Where does the Tories stand in this case? Has they made any statement or mums the word whether from Downing Street or from, you know, the center of political power?

Danish Khan 25:45
Well, the Hindu job, as you rightly said, have been closed to all the politicians. I will say, you know, they have faced problems when the Labour Party was in government when it was alleged that they used their good relations with the Labour Party to get some passports to get the British passports. I mean, subsequent inquiries did not agree with this widespread belief that they use their position to arm twist the government into giving them British passports out of turn. So they were considered close to the Labour Party. They are considered close to the Tory party now because of course the Conservatives are in power. Boris Johnson has attended their Diwali Parties in the past this year's Diwali party again, King Charles sent his key men to the party as well. The London Mayor Sadiq Khan, who belongs to the labor was there and so was Lord Tariq Ahmad, who is a minister in the foreign office he was there as well and his Diwali party is of course, a sought after event people are crazy about getting a door inside the cultural House Terrace, but yes, I mean, they have got deep connections of course, they meet presidents and prime ministers of various countries, they host of them in their in the house so so of course, they have a lot of connection. But as of now it has taken people by surprise in the establishment as well because, you know, I mean, if you close your eyes and if you think about the Hindujas what comes to your mind Well, four brothers looking so similar dressed similarly coming out the same stature, you know, they show the love to the elder brother. That's what comes to mind now that seems to be something of the past but I must add Arijit that they are still going, you know, full power, they're going to start this massive hotel right in Whitehall in the heart of England. So the business doesn't seem to have been affected much.

Arijit Barman 27:32
And and as a family, they've never you talked about the Labour Party and the passport controversy. They've never they've always quoted controversy. Remember the whole of 1990s and early 2000s, the entire bow force saga chart sheets been filed. In fact, the chargesheet was actually filed and sent to London during Vajpayee's era and Vajpayee was a very dear friend of the family. And it was said that LK Advani, the then Home Minister had torpedoed the Diwali party, and Cameron and others were supposed to visit and it was a bit of a damp squib. So as a family they've also courted controversy over the years. Of course, subsequently, the courts cleared them of the Bofors case, but do people in England remember those days or that's long forgotten?

Danish Khan 28:22
Well, they do remember because if I be correct, I think there were quite a few ministers who had to resign because of the passport scandal that happened.

BG 28:32
Peter Mandelson has resigned from the cabinet over a role that's being called Cash for passports. Mandelson has been accused for acting improperly over the passport application of controversial Indian billionaire Srichand Hinduja.

Danish Khan 28:46
So they have left a fairly large imprint on the political psyche of England. So they are very well known. They have quoted controversy, but London is also a global city where you have the oligarchs, and you have the sheiks and you have the Russian czars, and you have all sorts of people who come here with quoted controversies they play host to to everyone to the high and mighty, but they also Arijit are looked upon as very traditional Indian family that, you know, believes in togetherness, they hold the Diwali reception, which is an all vegetarian affair. So I may add Arijit, it just reminds me that so Gopichand Hinduja, for example, attended those court hearings, and you know, he did speak to the judge as well. And the judge says that he comes across as a person of immense charm and spirituality, somebody who has good off his brother at heart, you know, so all those comments were there, but not much could have been said or written.

Arijit Barman 29:43
And there were tears in GP's eyes, and he as you said, they are Indian at heart. So he also in the court, which astounded many actually sang mera Juta Hain Japani phir bhi dil hai Hindustani?

Danish Khan 29:58
Yeah, that's That's right. But Arijit that also takes us to a very unknown facet of the Hinduja. Family, by the way, if I may add, so is their involvement with the Hindi film industry?

Arijit Barman 30:08
Absolutely.

Danish Khan 30:10
While the group was in Iran, they actually kind of pioneered the films to be sent across Iran in some ways. In fact, they had a function at their residence here in London few months ago where film journalist actually wrote about their involvement, close involvement, rather than the Hindi Film Industry, behind the scenes in the distribution world so much so that by the way of one of the holding companies is called Sangam. And that takes its name from the Raj Kapoor starrer Sangam, which apparently helped them make some money in those days. Right. So it's a very close connection with Bollywood that they have. And you can't get more Indian than that.

Arijit Barman 30:46
Absolutely. And over and generations, I mean, they have actually had produce finance, export Bollywood to, as you said, Iran, which was a major business hub for them, they did before the revolution, at least, we are almost want to end this with the last question, what happens next? That's the $14 billion question.

Danish Khan 31:08
Well, Arijit I must say that as per the Sunday Times, their net worth or the fortune has been put at 28 billion pounds. So I don't know which figure you'll want to take it. But that's the I'm based in London and I read The Sunday Times, I will say it's a 28 billion pound question on a serious note Arijit, I think, much depends on what comes out of these heads of terms agreement. If the uncles are successful in telling their nieces about this is what we can work out. And you know, look, we will take care of Srichand he's our elder brother. And so there is a possibility that it all comes to an end, which looks difficult, because the intensity of the legal battle and the fact that it's a global empire, it's a huge task to get things in order. Inevitably, my reading is there might be more court cases. And anyway, the Court of Protection proceedings are still on so they might still object the brothers might still object as to what is to be done, which region Hindu jazz interests, it's still very fertile. And as I said that the London legal industry is quite inviting and engrossing. Once you enter it, there is no end to it. So it might still continue for for some more time to come.

Arijit Barman 32:22
It's almost like Hotel California you get in but you don't get out. Hopefully, hopefully they will. Because these are private matters and sooner they get resolved, the better it is for everyone, every stakeholder concerned. Why is a four way split so difficult. The promoter holdings are held to trust an offshore entities making it difficult to segregate ownerships and then there are cross holdings across the entire business group. Even the brothers domiciles complicate matters. For example, SP and Gopichand live in London. Prakash resides in Monaco and Ashok in Mumbai and a private Swiss bank. SP Hinduja. Bank prevent that SP's family controls might hold key to many of the answers. Here's why. This private bank is smaller compared to several of the listed Hinduja companies but holds significance for its cross holdings. SP's brothers first used it to claim a power grab by the Hinduja sisters who they claimed use SP's failing health to go against their father's wishes. The daughters of course, have disputed this in court. Hinduja bank Switzerland or as Banque Privée is also called owns around 5% of Ashok Leyland, the commercial vehicle business of the group based on Tuesday's market capitalization. The value of those shares is around 2200 Odd crores Mauritius based IndusInd international holdings or IIH is a charitable organization whose Emiratis chairman was SP Hinduja. Now IIH owns almost 13% of IndusInd bank, the group's flagship whose market capitalization was around 90,000 Odd crores as on Tuesday, so as current market price that stake alone is worth over 11,200 crore rupees. IIH also has investments in Hinduja Leyland finance limited and IndusInd Media and Communications limited Ashok Hinduja by the way is the current chairman of IIH according to its website, the Hinduja sisters Vinoo and Shanu also own shares as part of the promoter group of listed Hinduja global solutions, a tech solutions company so nobody is not clear yet. How These cross holdings will get settled. Both sides did not want to disclose the details of the private settlement that's underway. An earlier 2018 lawsuit in London, also made public a dispute of over a billion dollars in assets held at the same Swiss bank by a company tied to Ashok Leyland limited. As for Bloomberg poll report, so what's at stake here? Billions and billions, and some more, get the picture. And I'm just scratching the surface.

BG 35:36
I think if we start using our emotions, more like you know the power of a rocket to zoom it up, instead of using it for approval of others, that's where my power comes from. It's very strange. It just about this afternoon, I had a friend who's flown in for this event. And I said to him, I said, I think I've realized what is the secret of my power is that I gave up that notion that I need to be liked or accepted by anyone or even a man. And what helped me to focus is to say, doesn't matter, they'll always be there, but my own acceptance and my goals are far more important. I use my emotional oxytocin to become a powerful girl rather than to wait for an approval of a man or anyone else for that matter.

Arijit Barman 36:25
My take the messy unraveling of the Hinduja Empire is rising, as the world is getting to know what actually happens behind closed doors of this otherwise private, conservative and sometimes rather secretive Sindhi family, whose roots lie in one time commodities trading, before rapidly diversifying to Bollywood film distribution outside India. Today, the Empire is global, vast and spread out, but equally opaque with holdings via trusts and offshore entities that make it difficult to fathom the ownership structure of the conglomerates, companies, most dynasties around the world Splinter after three generations, Max four, in a way as families get bigger and wider succession planning and smooth transition is the most important job for the founding fathers. So division is not necessarily always a bad thing. How you go about it is the key. Family businesses always have a strange dynamics, particularly around selection of an heir look around Ambani's to Tata's or the Piramal's or internationally. Look at the Murdoch's on mining magnate, Gina Rinrhart, or the Koch brothers or even latte and the Samsung saga. Familial stripes are always a global soap opera. But in the case of Hinduja's or even the Murugapa's, it is also about gender. We are in 2022 and women must have better an equal representation in all walks of life, and most certainly in business faster we realize sooner we find our inner peace. You have been listening to the Hinduja hullabaloo with me your host are Arijit Barman. Thank you Danish for those lovely insights into the past, present, and even a peek into the future of the Hinduja drama. Vinay Joshi is the producer of this episode. Rajas Naik is a sound engineer, a big shout out to the rocking BCS raga soup team for the signature tune that we are using today. Executive producers Anupriya Bahadur Anirban Chawdhury and yours truly. We hope you liked this episode. Do share on your social media networks. The morning brief drops every Tuesdays, Thursdays and Fridays and is available on Spotify, Apple podcast, Amazon and Google podcasts, as well as jio saavn. do tune in to ET play our latest platform for all audio content, including the morning brief. All external clips used in this episode belong to the respective owners. Credits mentioned in description


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