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 regret
When 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 abide by it.
“The 2017 agreement clearly states that the Lodha real estate business and its IPR, including trade name “Lodha” is owned by, and will exclusively be used by, Macrotech/Lodha Developers,” he told Mint in an email.
“I wish my younger brother, Abhinandan, all success in his business. I hope that he brings an end to this dispute by implementing the 2017 agreement and starts using a distinct and separate identity which does not lead to any confusion with our highly recognized and valuable brand name—Lodha,” he said.
Also read | Lodha vs Lodha: Why family names as brand names are always tough to disentangle
What’s in a name?
The dispute between the two warring brothers first came to light earlier this year when Macrotech Developers moved the Bombay High Court in January to restrict The House of Abhinandan Lodha from using the Lodha name.
Macrotech Developers claimed that the use of the Lodha name by the House of Abhinandan Lodha was leading to confusion among customers. The company attached several examples of this apparent confusion in its court petition, including an alleged WhatsApp conversation between a former top banker and Abhishek Lodha.
“What are these hoardings you have got for bungalows in Alibagh for 2.24 cr [sic.],” the former banker asked Abhishek in July 2024, as per a screengrab of the purported chat attached to the petition. To this, the latter replied that it was an advert by the House of Abhinandan Lodha and had nothing to do with Macrotech Developers.
As per the family agreement signed by the two brothers in March 2017—a copy of which Mint has also seen—the Lodha brand was to be transferred to Lodha Developers Pvt. Ltd. The company has since been renamed Macrotech Developers.
Also read | Lodha, Godrej Properties may gain from traction in Mumbai Metropolitan Region
Abhinandan Lodha’s new business was to develop a distinct identity “clearly differentiated from the Lodha real estate business” but could advertise itself as an “Abhinandan Lodha venture/project.”
On 31 January, the Bombay High Court directed the two brothers to settle the dispute under mediation through former Supreme Court judge R.V. Raveendran. The court has granted the mediator five weeks to facilitate a resolution, and the next hearing is scheduled for 21 March.
