Some of the biggest business conglomerates in India were started by families, such as: Birlas, Tatas, and Ambanis. Also, many of the top businesses holding companies such as HCL Corp. and Mahindra Group continue to be family-led. Over the decades, all these families—and their businesses too—have grown in size and strength. But in some cases family-led businesses have found themselves mired in ugly spats over succession and control of business units. Whether it is a 3 BHK or a Rs3 trillion firm, inter-generational asset transfer can be fraught with family disagreements.
The issue of succession has always been a difficult one, especially for family businesses. Those who haven’t been able to manage smooth transitions to the next generation have found themselves wasting time and resources on family squabbles. The Bajaj family dispute went on for 7 years before an amicable settlement was reached in 2008. Read more about it here. However, in family-led businesses amicable resolutions are not common. Read more about the Chettinad Family dispute here.
