Business tycoon Gopichand Hinduja, who led Ashok Leyland turnaround, passes away

Gopichand P Hinduja the head of Britainrsquos richest family and a key figure in building the global Hinduja Group died in London at the age of 85 news agency PTI reportedFondly known as lsquoGPrsquo in business circles he had been unwell for the past few weeks and passed away at a London hospital sources close to the family told PTIBorn in 1940 Gopichand was the second of the four Hinduja brothers who transformed their fatherrsquos trading business into a global conglomerate spanning automotive energy banking and infrastructure After the death of his elder brother Srichand Hinduja in 2023 he took over as chairman of the 35 billion pound Hinduja GroupGopichand Hinduja is survived by his wife Sunita sons Sanjay and Dheeraj and daughter RitaA graduate of Mumbairsquos Jai Hind College 1959 Gopichand Hinduja began his career in the familyrsquos trading business in Tehran before expanding its footprint across continentsUnder his leadership the Hinduja Group made landmark acquisitions mdash including Gulf Oil in 1984 and the thenstruggling Indian automaker Ashok Leyland in 1987 mdash marking the first major nonresident Indian NRI investment in India Today Ashok Leyland is regarded as one of the most remarkable turnaround stories in Indian corporate historyHe also spearheaded the Grouprsquos entry into the power and infrastructure sectors shaping plans for multigigawatt energy generation capacity in IndiaKnown for his understated leadership and deep commitment to family values Gopichand Hinduja was awarded an Honorary Doctorate of Law by the University of Westminster and an Honorary Doctorate of Economics by Richmond College London according to the Grouprsquos websiteHe and his brothers mdash Srichand and Prakash mdash were once accused in the Bofors scandal of receiving Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian contract However the Delhi High Court exonerated all three in 2005According to The Sunday Times Rich List the Hinduja family remains Britainrsquos wealthiest with an estimated net worth of pound353 billion despite a dip from pound372 billion the previous year Their UK assets include the historic Carlton House Terrace near Buckingham Palace and the Old War Office building in Whitehall now the Raffles London hotel which opened in 2023The family however has faced internal disputes over control of its vast wealth After Srichandrsquos death it was revealed that Gopichand and his younger brothers mdash Prakash 79 and Ashok 74 mdash had been locked in a legal battle with Srichand and his daughter Vinoo over a 2014 letter stating that assets held by one belonged to all Though the family announced a truce reports suggest private negotiations are ongoingThe Hinduja Group traces its origins to 1914 when founder Parmanand Hinduja established a trading business in the Sindh region of British India dealing in carpets tea and spices He later expanded operations to Iran where his sons joined and diversified into new ventures including distributing Bollywood films overseasParmanand who died in 1971 left his sons a guiding principle mdash ldquoEverything belongs to everyone and nothing belongs to anyonerdquo While the brothers upheld this philosophy for decades the recent disputes have raised questions over the unity of the empireThe Grouprsquos global interests include the Genevabased SP Hinduja Banque Priveacutee Mumbairsquos IndusInd Bank Ltd and extensive property holdings with over 250 acres of land in key Indian citiesWith PTI inputs