104-year-old Chowgule Group being restructured; biz to be split between siblings
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Last Updated: Jan 14, 2021, 09:07 PM IST
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Synopsis
After months of dissonance where the young family members had shown discomfort at business affairs in the over-a-century-old, reticent group, the family arrived at an amicable settlement of businesses on Wednesday in a meeting, a source told .
The fourth generation of the Mormugao-based family has sided with Padma, while Vijay Chowgule grouping will get the vehicle dealership, ship repair, Angre Port and warehousing businesses, the source said.
The Rs 2,500-crore
Chowgule Group announced a split on Thursday, with businesses being divided between siblings Vijay and Padma, the third generation of the Goa-based family.