India Inc 2023: The year 2023 saw significant turmoil within several prominent Indian businesses, including Bharat Forge, Indigo, Raymond Group, and Religare Enterprises. These disputes among family members, friends, and stakeholders shed light on critical issues. It emphasized the necessity for clear succession plans, strategies to shield companies from relationship conflicts, and improved scrutiny of stakeholders. This upheaval serves as a crucial lesson for corporate India, urging the development of better approaches to confront future challenges in a maturing corporate landscape, especially as women in top roles assert their influence.
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An announcement on 27 November 2023 by Carborundum Universal Ltd, a constituent of the Murugappa group, most likely signals the finale to the family strife which saw two of the female members of the family seek an equal right to occupy the position of directors that the male family members are entitled to.
As more women take up senior leadership roles in India Inc, their visibility in boardroom battles is also rising. In a clear break from the past, women are playing key roles in several ongoing boardroom conflicts, or family disputes that may extend into the boardroom, reflecting the rise in the number of women in positions where they can have their say.
Rashmi Saluja-led Religare Enterprises, for example, is embroiled in a conflict with the Burmans of Dabur. Baba Kalyani of Bharat Forge has an ongoing dispute with his sister, Sugandha Hiremath of Hikal. There s also a rift between Gopichand Hinduja and his nieces, as well as between the late Gopal Raheja s son and two daughters over his construction group s assets.