[ad_1]
[Throwback] Muhammad Ali Jinnah’s Grandson, Indian Billionaire Never Avoided Fighting
Photo: BCCL
New Delhi: When you think of rich people, the names of Ambanis, Tatas and Wadias come to mind. They are known as India’s richest family living in luxury, but all families have their fair share of quarrels. Whether in politics, academia or business, each sector has witnessed its own battles and competition.
who
Wadia vs Dhirubhai Ambani
The battle between Wadia and Ambani companies began as both companies focused on the growth of the polyester industry. His Bombay Dyeing for Wadia Group was already making a name for itself with sheets, towels and more. The company was one of the textile kings of the pre-Ambani era.
As Ambani was also aiming to enter space, the conflict took the form of a secret war, so much so that the media dubbed the battle “an ancient regime locking its horns in nouveau riches”. Ambani won the war because he made some bad choices in .
In late 2009, Wadia overturned perceptions of bitter rivalry between the two business families, saying it had no rivalry with Ambani. “I have no rivalry with him (Dhirubhai Ambani) … I’m just saying that the rivalry is now on different levels … with different people … with different issues.” he said.
Wadia vs Ratan Tata
When JRD handed over the reins of the company to Ratan Tata, it was Wadia who led him through the first few years. However, their friendship soured when Wadia decided to sue Ratan Tata. At the peak of Mistry’s conflict with Tata, Wadia sided with Mistry, resulting in his removal from his position as an independent director of Tata Motors.
Wadia filed a defamation lawsuit against Ratan Tata and Tata Group in 2016, alleging that he was wrongfully expelled from Tata Motors because he did not participate in disputes unless he felt he was wrong. He dropped the lawsuit in 2020, four years later.
Wadia vs the late Baron Biscuit
The 78-year-old billionaire once battled the late Biscuit Baron Rajan Pillai, a former friend turned enemy. The rivalry was over Britannia. Pillai acquired his 11% stake in Britannia in 1987, and a year later he further acquired his 38% stake in the Biscuit Company in December 1988.
Wadia then staged a coup with the help of French giant Danone to buy Pillai’s stake in Britannia. A few years later, in 2009, Wadia regained control of Britannia from food giant Danone, who held his 25.48% stake, and he acquired a further 25.48%. After winning the battle, Wadia became the sole owner of Britannia.
Battle of Wadia and Father
The billionaire not only took on other businessmen, but once fought his own father Neville when he wanted to sell Bombay Dyeing to Goenkas and settle in Switzerland. Young Nsri managed to keep his company and his father to stay in India.
[ad_2]
Source link
