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CompaniesNehal Chaliawala
4 min
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27 Feb 2025, 09:03 PM
ISTAbhishek Lodha, managing director of Macrotech Developers. (Bloomberg)Summary
This puts into question Abhinandan’s claim that he has unsettled dues from his brother as per the family settlement agreement.
Breaking the silence over the ongoing dispute between brothers Abhishek and Abhinandan over a family settlement agreement and the use of the Lodha brand, their mother Manju Lodha has stated that neither brother has any valid claim on the other’s business.
The mother made an emotional appeal to the two brothers to bury the hatchet in a letter addressed to them on 21 February.
“Your father and I have discussed at length the claims by both of you (with respect to) the shareholding/ownership of each other’s businesses,” Lodha wrote in the letter, a copy of which Mint has seen.
“We confirm that both of you have no right of any form in the other brother’s business or assets or shareholding,” she wrote, adding that the arrangement within the family behind leading real estate firm Macrotech Developers was documented in an agreement on 31 March 2017.
This puts into question Abhinandan’s claim that he has unsettled dues from his brother as per the family settlement agreement.
Also read | Lodha versus Lodha: How a family agreement brought the Lodha brothers to battle
“(I was to get my) rightful share in the future post the IPO of the real estate business. Unfortunately, after my exit, the commitments and payments that were to be made to me have not been honoured despite various promises being made until recently,” he told Mint last month.
Abhishek Lodha is the managing director of Macrotech Developers, the firm that’s known for its Lodha branded upmarket real estate projects in Mumbai. His family controls almost 72% shares of the listed firm with a market capitalization of ₹1.19 trillion as of Thursday.
Abhinandan Lodha started his own real estate venture named the House of Abhinandan Lodha after exiting the family business in 2015.Abhinandan’s regretWhen contacted, a spokesperson for Abhinandan Lodha said that it was disappointing that a letter addressed by a mother to her children was being shared with people outside the family for “ulterior motives and to create a false narrative.”
Also read | Abhishek Lodha on the battle between the brothers for the Lodha brand
“Having said that, Abhinandan Lodha continues to believe that family matters should not be settled in public. This is the reason he chose to maintain a dignified silence for over 10 years. He does hope that his family honours all the commitments made to him,” the spokesperson said in an email.
The spokesperson refused to comment further as the brothers are presently going through a mediation to settle their dispute.
Abhishek Lodha said he respects his mother’s letter and will a