Gopichand Hinduja takes over as chairman of $34.5 billion-worth group

Gopichand Hinduja has taken over as chairman of the $34.5 billion-worth Hinduja Group following the death of his brother, Srichand Hinduja last month, according to media reports. Srichand Hinduja was 87 years old.

After a long period of illness, Srichand Hinduja died on May 17 at his home in London. He was remembered by over 2,500 guests at a prayer meeting held for him on Thursday in Mumbai.

 “Srichand Hinduja was not just a wealth creator but an employment generator…creating 2 lakh jobs across 48 countries. The Indian government has enjoyed a very good relationship with this Group. During Prime Minister Narasimha Rao’s tenure, the Group extended special assistance to the country,” Nitin Gadkari, Union Minister for Road Transport and Highways, said in a video message from Delhi.

Gopichand Hinduja said that his brother was the center of their universe and showed them the way to live in peace and harmony with one another, according to their family's principles and values.

Gopichand Hinduja, who was the co-chairman of the Hinduja Group, oversees a diverse global business empire that spans several sectors such as automotive, oil and specialty chemicals, infrastructure, and power.

Srichand Hinduja was the eldest son of Parmanand Deepchand Hinduja, the founder of the Hinduja group who started his journey in Sindh, in undivided India. In 1914, the founder moved his base to Mumbai and set up an international base in Iran, where the group did exceedingly well for six decades.

The Hinduja Group's businesses range from trucks and lubricants to banking and media. The Hinduja brothers own a portfolio of valuable real estate in London, including the historic Old War Office building in Whitehall, which is currently being converted into a Raffles Hotel.

The Hinduja brothers often cited their family philosophy that "everything belongs to everyone." However, in the final years of Srichand Hinduja's life, when he was suffering from dementia, the family was involved in a dispute. A UK court filing, in June 2020, revealed that Srichand had claimed sole ownership of a Geneva-based bank, a claim which was disputed by his three younger brothers, Gopichand, Prakash, and Ashok. The younger brothers argued that Srichand's claim contradicted a 2014 letter signed by all four brothers, which confirmed that all group assets were jointly owned. Srichand Hinduja, represented by his daughter Vinoo, argued in a UK court that the 2014 letter should not be considered a legal document in inheritance matters, and that it cannot be used as a will or a power of attorney.