The Hindu Business Line : Thaw in Jumbo feud: Vidya talks to estranged daughter

THE family feud that threatened to split the $2-billion Jumbo Group founded by the late Manu Chhabria has thawed with the Chairperson, Ms Vidya Manohar Chhabria, meeting with her estranged daughter, Ms Bhavika Godhwani, in recent weeks.

The eldest among the three daughters had moved a Dubai court seeking a split in the family assets shortly after Manu Chhabria's demise in April 2002.

It is learnt that Ms Godhwani was engaged in talks with her mother for the first time after moving the court and could settle for a cash deal rather than looking at carving up the business empire with the view of running some group companies. A family source, when contacted, said: "We cannot confirm nor deny the meeting. However, efforts have been on for an amicable settlement." Asked whether the family was working on any formula to resolve the dispute, the source said it was the prerogative of the chairperson and there was no clarity on the matter yet. "But whether the claim is for company or cash, it is the same," the source added indicating that any cash settlement even hypothetically talking could involve disposal of some assets.

The Jumbo Group, founded by Manu Chhabria in the early 70s, has a vast electronics business in the Gulf and around 50 countries in the world. The group also manages Indian companies such as Shaw Wallace & Co, Dunlop, Mather & Platt, Gordon Woodroffe and Hindustan Dorr Oliver.

Last year, Jumbo sold 50 per cent stake and management control in the brewing arm of Shaw Wallace to SABMiller for roughly $133 million. The two other daughters, Ms Komal Chhabria Wazir and Ms Kiran Chhabria, are involved with Jumbo Group's operations in Dubai and in India.

While Ms Wazir looks after the group's most of Indian operations, Ms Kiran Chhabria has considerable exposure to the electronics business in the Gulf. Before falling out with the family, Ms Godhwani was briefly in charge of Hindustan Dorr Oliver operations.