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104-year-old Chowgule Group being restructured; biz to be split between siblings SECTIONS Last Updated: Jan 14, 2021, 09:07 PM IST Share 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. ....
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Goa’s Chowgule Group splits into two following a family settlement January 14, 2021 bl26 think2 split deal.jpg× Padma V Chowgule, Chairperson and Managing Director of flagship company, Chowgule & Co, will get control of the mining, pellets, salt, ship-building and educational institutions of the Group The Chowgule Group, the 104-year-old Goa-based business conglomerate, has split into two following an “amicable” family settlement. Padma V Chowgule, Chairperson and Managing Director of the legacy flagship company, Chowgule & Co, will get control of the mining, pellets, salt, ship-building and educational institutions of the Group, which has 14 business units. Padma Chowgule, 65, is the youngest of founder Vishwasrao Chowgule’s five children. ....
Facing stiff competition from the neighbouring Jaigad port of JSW Group, Chowgule-owned Angre Port has chalked out a road map for an assured revenue stream that would give it stronger global identity. “The plan is to develop Chowgule-owned 280 acres adjoining the port via strategic partners who can establish long-term and sustainable businesses with the port. In this manner, we look to get anchor customers for our port in turn ensuring assured revenue stream,” C P Jayakrishnan, chief executive officer of Angre Port, told Business Standard. The agri-based port of Angre is a riverine port that currently exports sugar and molasses to the tune of 0.5 million tonne annually. ....