In a new development in the ongoing family dispute, Macrotech Developers, the real estate giant led by Abhishek Lodha, has accused his younger brother Abhinandan Lodha’s firm, House of Abhinandan Lodha (HoABL), of fabricating documents to misuse the company’s brand name and registered trademarks.
Allegations of Fabricated Documents and Misuse of the Lodha Brand
Macrotech Developers has alleged that HoABL used forged board resolutions to falsely claim approval from Macrotech for the use of the company’s trademarked brand name. According to Macrotech, these fabricated documents were submitted to government authorities to facilitate changes in the corporate names of at least two HoABL entities, with both now incorporating the "Lodha" name. These actions, Macrotech claims, were carried out to boost HoABL’s business activities under the guise of a reputable brand.
Macrotech has gone further to accuse HoABL of using forged signatures, particularly pointing to a purported resolution that bore the signature of one of Macrotech's independent directors. Investigations reportedly revealed that the director’s PAN card had been tampered with, including a fake signature and photograph, further fueling the fraud allegations. Macrotech's board met on Wednesday to address these concerns and issued a statement taking "serious cognizance" of the matter.
Steps Taken by Macrotech Developers
To handle the situation, Macrotech has formed a special committee to look into the matter and take appropriate legal action. Interestingly, Abhishek Lodha has requested not to be part of this panel, possibly due to the personal nature of the dispute. Macrotech’s management is taking the issue seriously, with the company indicating that it is prepared to pursue legal remedies to safeguard its brand and trademarks.
HoABL Denies Allegations and Promises a Detailed Response
In response to the allegations, the House of Abhinandan Lodha has denied any wrongdoing. HoABL issued a statement strongly rejecting the accusations of forgery and fraud. The company said it is conducting an internal review of the situation and will provide a detailed response once the investigation is complete. A spokesperson for Lodha Ventures, the parent company of HoABL, emphasized that the company is fully committed to transparency and is taking steps to address the matter thoroughly.
The Family Feud: Court Mediation and Public Appeals
This legal battle over the use of the "Lodha" brand name is not the first in what has become a public family dispute. In the past, Abhishek Lodha had sought legal intervention, dragging his younger brother Abhinandan to the Bombay High Court to resolve the matter. The court, in an effort to settle the disagreement, had appointed a retired justice to mediate between the siblings.
In an emotional plea, their mother also intervened earlier this year, asking both brothers to settle their differences. The appeal came after consulting their father, Mangal Prabhat Lodha, a prominent BJP politician and Maharashtra minister, who expressed his desire for peace within the family.
Macrotech Developers and HoABL: Two Separate Business Entities
Macrotech Developers, one of India’s largest real estate companies, operates under the renowned “Lodha” brand, a name synonymous with luxury properties and residential developments. On the other hand, HoABL, run by Abhinandan Lodha, focuses on the development of residential plots in key cities across the country. Despite the apparent business rivalry, the family feud over the brand name has cast a shadow over their professional endeavors.
Macrotech has been listed on the Bombay Stock Exchange (BSE) and continues to be a major player in India’s real estate sector. Following the news of the allegations, Macrotech’s stock rose by 5.28%, closing at Rs 1,218.8 per share, outperforming the market’s average gain of 0.78%.
What This Means for the Lodha Brand
The ongoing legal and public dispute raises serious questions about the future of the "Lodha" brand, which has been a symbol of luxury real estate in India. The resolution of this case will likely have significant implications not only for the Lodha family but also for the branding strategies of both Macrotech Developers and the House of Abhinandan Lodha. Investors, stakeholders, and industry professionals will be closely watching the legal proceedings and the potential impact on the market position of both firms.