Working on long-term options to settle the matter, says Godrej group

The land parcel was acquired by the Godrej family in early 1940s from the Bombay High Court receiver

A day after the Godrej family appointed advisors to help untangle its land holdings in Mumbai, the $4.5-billion group said it was working on long-term options to settle the matter. 

In a joint statement issued on Thursday, Godrej group Chairman Adi Godrej and Godrej & Boyce Chairman Jamshyd Godrej said they had sought advice from external advisors to help them think through these options.

“We have been working on a long-term strategy plan for the group for several years. As part of this exercise, we have sought advice from external partners,” the statement said.

While Jamshyd Godrej has hired veteran investment banker Nimesh