Godrej group finalises family settlement to split business

Family settlement to split business:  Godrej Industries, the high-profile conglomerate has witnessed a split amicably after the family signed a settlement agreement. The Godrej family consists of two factions, Godrej Industries & Associates, which is headed by brothers Adi and Nadir Godrej. Besides, Godrej & Boyce Manufacturing Company, which is led by their cousin Jamshyd Godrej and his sister Smitha Godrej Crishna. The two factions have been in talks for nearly two years for an amicable settlement of the group assets. 
“The Godrej family settlement was ‘locked’ today with the elegance and dignity that the family is known for. No controversies, just all clean like their soaps,”  RPG Group’s Harsh Goenka wrote on microblogging site X. However, an official announcement from Godrej Industries was still awaited till the filing of this news report. 

Group companies' structure 

The Godrej group is presently led by veteran industrialist Adi Godrej, who is its Chairman. Godrej Industries Limited is a holding company with a presence in fast-moving consumer goods, agriculture, real estate, chemicals and financial services. The group has five listed firms, which includes Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet, and Astec LifeSciences.

The agreement between the family members will ensure that the stake held by the two factions in each other’s companies are divested so that the companies under Godrej Industries & Associates are in complete control of Adi and Nadir Godrej, while those under Godrej & Boyce Manufacturing Company will likely be under Jamshyd Godrej and his sister Smitha Godrej Crishna.

For instance, Jamshyd Godrej’s faction will  transfer interests in Godrej Consumer Products and Godrej Properties to Adi and Nadir. Similarly, real estate held by the group will likely go under Jamshyd’s stable. The agreement will also spell out the arrangement for the use of Godrej brand by the different entities.