The real estate tycoons Abhishek Lodha, who leads Macrotech Developers, and Abhinandan Lodha, the head of the plotted development company House of Abhinandan Lodha (HoABL), have “amicably resolved all outstanding disputes under the guidance of their parents.”
The siblings had a dispute over the use of the “Lodha” brand.
According to the release, Macrotech Developers will be the exclusive owner of the name ‘Lodha’ and ‘Lodha Group’. “Abhinandan Lodha is the owner of and has the exclusive right to use the brand name ‘House of Abhinandan Lodha’ (“HoABL”).”
Both the brothers have agreed that Abhinandan Lodha has no rights or claims in Lodha Group or MDL or other businesses of Abhishek Lodha and vice versa.
“Both Abhishek and Abhinandan express their heartfelt gratitude to Hon’ble Justice R.V. Raveendran (Retd.), whose guidance in the mediation process was invaluable. The family is grateful to the Hon’ble Justice Arif Doctor for encouraging them to follow the process of mediation. They also extend their sincere appreciation to all family elders and well-wishers who provided their counsel and support throughout the resolution process,” read the press release.