Business News | Lodha Brothers Amicably Resolve Disputes
Get latest articles and stories on Business at LatestLY. The Lodha brothers--elder brother Abhishek Lodha and younger brother Abhinandan Lodha--and their companies have amicably resolved all outstanding disputes under the guidance of their parents, a joint statement said Monday.
Mumbai (Maharashtra) [India], April 14 (ANI): The Lodha brothers--elder brother Abhishek Lodha and younger brother Abhinandan Lodha--and their companies have amicably resolved all outstanding disputes under the guidance of their parents, a joint statement said Monday.
They have agreed on a few points, which helped resolve the dispute between the brothers.
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As per the statement, Macrotech Developers Ltd (MDL) owns and has the exclusive right to use the brand names 'Lodha' and 'Lodha Group'.
Abhinandan Lodha owns and has the exclusive right to use the brand name 'House of Abhinandan Lodha' (HoABL).
'Lodha Group' and 'House of Abhinandan Lodha' have no connection with each other.
"Both entities will communicate this widely," the joint statement read.
In another agreement, they decided that Abhinandan has no rights or claims in the Lodha Group, MDL, or Abhishek's other businesses. Abhishek also has no rights or claims in HoABL or Abhinandan's other businesses.
"Both Abhishek and Abhinandan express their heartfelt gratitude to Hon'ble Justice RV Raveendran (Retd.), whose guidance in the mediation process was invaluable. The family is grateful to Hon'ble Justice Arif Doctor for encouraging them to follow the process of mediation. They also extend their sincere appreciation to all family elders and well-wishers who provided their counsel and support throughout the resolution process," the joint statement said.
The statement concluded by saying that no further statements would be made on the matter. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)