Godrej family refutes reports of dispute over land parcel

TIL Desk/Business/New Delhi/ Industrial conglomerate Godrej Group has denied reports of a dispute in the family over difference of opinion regarding commercial development of a 1,000-acre land. A joint statement by both Adi Godrej and Jamshyd Godrej described the reports as “sensationalist media coverage” and said the the group has been working on a long term strategy for several years.

“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 to help us think through options. The family regrets the sensationalist media coverage of these normal and private family discussions,” the statement said.

On Thursday, media reports suggested that Group Chairman Adi Godrej and his brother Nadir Godrej are on one side of the turf, who want to commercially develop the landholding of Godrej & Boyce at Vikhroli, a suburb of Mumbai, while Jamshyd Godrej, the Chairman of the holding company and his son are opposed to the idea of “excessive development”.