Sanghi family feud comes out in the open
Sunday, September 28th, 2008 at 1:33 am
HYDERABAD: The simmering differences among members of the Sanghi family that owns the Sanghi Group of industries came to the fore again when the two warring groups allegedly attacked one another, hours after conclusion of a stormy annual general meeting (AGM) at Sanghinagar near here on Saturday.
Police registered criminal cases against both the groups of the family which have stakes in the Rs.1,800 crore business, mainly polyester yarn manufacture, and media business which includes ‘Vaarttha’ newspaper. Police did not arrest anyone and said they were investigating into the cases.
Anand, Sudhir, Ravi and Girish are the sons of late Ram Saran Sanghi, a founder of the Sanghi Group. After the demise of the family patriarch, the sons got divided into two groups with the first two ranged on one side.
According to Hayathnagar police station Inspector N. Narasimha Reddy, Sudhir Sanghi, accompanied by his son Sidharth and some other family members, went to call on his mother Kamala Rani at Sanghinagar, a few hours after attending the AGM.
Even as Mr. Sudhir was speaking to his mother, Congress MP Girish Sanghi, Ravi Sanghi, and some workers, allegedly armed with sticks, arrived there. The workers raised slogans and picked up an argument with the personal security guards of Mr. Sudhir and his family members.
“On hearing this, Sidharth rushed out to know the cause of the disturbance. Upon this, Girish, Ravi and their workers allegedly attacked him and later his father,” the police said quoting the complaint. The personal security guards were injured in the assault. Mr. Sudhir Sanghi and his son managed to escape and lodged a complaint with Hayathnagar police.
Girish Sanghi and Ravi Sanghi also lodged a counter complaint. Mr. Ravi Sanghi, in his complaint, condemned allegations made by Sudhir. He stated that Sudhir and his son attacked him and Girish when they wanted to sort out differences peacefully.
When contacted, Mr. Girish alleged that it was Sudhir who came with goons and attacked them. He said the brothers wanted to separate amicably but Mr. Sudhir was resorting to high-handed behaviour.
Meanwhile, cases under Sections 147 (rioting), 148 (rioting armed with deadly weapons), 324 (causing hurt) and 506 (criminal intimidation) of Indian Penal Code were registered by police against both the parties.
According to sources close to the family, the brothers are not in good terms now and the four brothers have now split into two groups with Anand Sanghi, the eldest, and Sudhir Sanghi, the second among the brothers, on one side. Ravi Sanghi, the third among the brothers, and Girish Sanghi, the youngest and a Rajya Sabha MP are now together waging a war against the elder brothers.
Though the feud has been on for sometime now, the differences among the brothers widened after the death of family patriarch Ramsharan Sanghi recently.
Started off in 1979 with a textile processing unit, Sanghi group has several companies with facilities to manufacture cement, polyester, polymers, zip fasteners, threads and spinning. The group has also been working on a plan to set up a SEZ near Sanghi Nagar. Most of the group’s activities are located in Sanghi Nagar. It is the control of these assets that’s become a contentious issue apart from the differences over the way the businesses are being managed.
A group within the family, the source said, argues that the group was entirely built on the hardwork of Anand and Sudhir while they are yet to get their due recognition due to the over-shadowing abilities of the other two brothers. "It’s not just about money or asset. But, the key issues on which the brothers disagree include certain business practices that are not approved by the children of Anand and Sudhir,” the source said.
While no legal remedy is being sought, the reorganisation of the group is more or less over. According to the division formula, Anand and Sudhir would get control over Sanghi Nagar, which is spread over 361 acres, while Ravi would get Sanghi Industries with cement as its main component.
Girish would get control of textile business apart from AGA Publications, which is one of the key media houses in the state. However, sources said the formula is still not acceptable to all the brothers. "There are differences and going by the way the issue has been discussed so far in the family, it may not be easy for one to suggest a formula to the brothers," the source said.
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