Patriarch of Britain's richest family the Hinduja brothers dies

Dementia-stricken billionaire patriarch of Britain’s richest family the Hinduja brothers dies in London aged 87 amid family row over his £28BN empire

• Srichand P Hinduja, known as SP or Sri, had dementia, according to reports
• The Hinduja family were at the top of the 2022 Sunday Times Rich List  

The billionaire patriarch of Britain’s richest family has died in London aged 87 – amid a family row over his £28billion empire. 

Srichand P Hinduja, who was known as SP or Sri, was suffering with dementia, according to reports. 

A spokesperson for the family said today: ‘Gopichand, Prakash, Ashok and the whole Hinduja family with a heavy heart regret to announce the passing away […] of Mr SP Hinduja.’ 

The Hinduja family were at the top of the 2022 Sunday Times Rich List, after their combined fortune rose by more than £11bn to hit £28.4bn – the biggest fortune recorded in more than three decades. 

A judge warned last year that Sri Hinduja’s needs, chiefly medical care for Lewy body dementia, had ‘become marginalised’ amid a family feud over the ownership of a Swiss bank, according to The Guardian. 

Srichand P Hinduja, 87, (pictured) who was known as SP or Sri, had dementia, according to reports

Until the billionaire’s death, Sri had led the family dynasty, employing 150,000 people, with his brother Gopichand Hinduja (pictured) 

Until the billionaire’s death, Sri had led the family dynasty, employing 150,000 people, with his brother Gopi. 

The pair created the Hinduja Group from a small family enterprise into a company operating in 38 different countries and spanning sectors such as the automotive industry, oil and banking. 

The empire then grew via landmark deals, such as the purchase of the Ashok Leyland group in 1987. This included remnants of the unused British automotive business British Leyland.

Their UK property assets included the impressive 6,224 square metre (67,000 sqare feet) 18th century Carlton House Terrace near Buckingham Palace. 

READ MORE: Bitter rift in Britain’s richest family the Hinduja brothers is laid bare as judge reveals he wanted to put dementia-stricken patriarch of the £28BILLION family into a public nursing home amid row over his empire

In a statement sent to MailOnline, the billionaire’s daughters, Shanu and Vinoo Hinduja, said: ‘It is with deep sadness that we announce the passing of our father SP Hinduja. SP was a loving husband to beloved late Madhu, father to Shanu, Vinoo and cherished late Dharam, and grandfather to Karam and Lavanya. SP was a visionary titan of industry and business, humanitarian and philanthropist.

‘SP journeyed through life with deep humility and dignity, always seeking to bring people together in a common interest. He touched countless lives on his path, and we are forever grateful for the time we cherished with him.

‘Amongst other things, SP will be remembered for his great contributions in bringing India and its culture to the global stage through his work and philanthropic efforts.

‘SP passed away peacefully this morning, looked after by members of his family and we are at peace knowing that he will be reunited with his beloved wife and son in the afterlife.

We will continue to uphold SP’s legacy and values.

The family asks for privacy at this time for prayer and quiet reflection. Shanu and Vinoo Hinduja.’ 

The patriarch’s death comes after the family were caught in a bitter feud as relatives of the old man failed to find care for him when he developed dementia.

The family rift was exposed when a senior judge revealed he wanted to put billionaire Srichand Parmanand Hinduja, 86, in a public nursing home because his care needs had been ‘marginalised’.

Mr Justice Hayden raised concerns about the welfare of Mr Hinduja after overseeing hearings in the Court of Protection relating to a row over the Hinduja Group, which has interests in manufacturing, banking, chemicals, power, media and healthcare.

In 2014, four brothers – Srichand, 86, Gopichand, 82, Prakash, 77 and Ashok, who is in his early 70s – agreed a pact which said ‘assets held in any single brother’s name belong to all four’.

But in 2015, Srichand sought to claim sole ownership of Hinduja Bank in Switzerland and sued his three brothers in the High Court claiming the agreement had ‘no legal effect’.

After Srichand developed dementia, the dispute was continued by his daughter, Vinoo, who he had granted lasting power of attorney over his affairs.

But Gopichand challenged the legitimacy of the power of attorney at the Court of Protection in 2020, where he insisted his brother’s dementia meant he would have lacked the capacity to grant it.

That battle ended after lawyers for Gopichand said in June that the family had agreed to effectively tear up the arrangement.

Source: Read Full Article