Macrotech Claims Rs 10 Bn paid to Abhinandan Lodha

24 Jan 2025 CW Team

The dispute arose after Macrotech Developers approached the Bombay High Court, seeking to restrain HoABL from using the word ‘Lodha,’ claiming trademark rights. During a hearing on Tuesday, the court noted it couldn’t proceed because the suit sought damages of Rs 50 billion. The next hearing is set for Monday.

In its petition, Macrotech Developers stated that between 2015 and 2017, it was initially agreed that each family member would take on some assets and some debt as part of their separation. Later, Abhinandan insisted he didn’t want to manage the customers, debt, or construction and preferred only money. As a result, Abhishek and their parents were left with Rs 200 billion in debt, while Abhinandan took a Rs 10 billion payout to start his business.

HoABL has rejected this statement, calling it false and contradicting their own court filings, where they attached the family settlement agreement from 2017. The company emphasized that Macrotech is misleading the public, adding that other issues mentioned in the annexure will be addressed at the appropriate forum.

In 2015, Abhinandan Lodha separated from the Lodha Group and started his own business, formalized through a family settlement in 2017. However, due to non-compliance, a new agreement was signed in December 2023, which barred Abhinandan from using any names similar to ‘Lodha.’ The agreement stated that if Abhinandan complied, Abhishek would allow the use of ‘House of Abhinandan Lodha.’ By 2023, Lodha Group had become a publicly listed entity and wasn’t part of the agreement. The listed company, as the trademark owner, never granted permission for the name. The 2023 agreement was terminated due to non-compliance, nullifying any prior consent for ‘House of Abhinandan Lodha,’ according to the petition.

Realty developer Macrotech Developers, led by Abhishek Lodha, claims that the company paid Rs 10 billion to his brother, Abhinandan Lodha, during their separation. Following this, Abhinandan started his own business. However, Abhinandan’s company, the House of Abhinandan Lodha (HoABL), has denied this, calling it a lie. According to HoABL, overall, Abhinandan received only Rs. 429 crore and some apartments all adding to Rs 500 crore across all awards and settlement documents put together and he was told that Macrotech Developers Ltd was not in a position to pay more at that point in time, but with a promise to pay his rightful share in the future post the IPO of the Real Estate business. He accepted the request in the interest of the family and their commitments made to him. The dispute arose after Macrotech Developers approached the Bombay High Court, seeking to restrain HoABL from using the word ‘Lodha,’ claiming trademark rights. During a hearing on Tuesday, the court noted it couldn’t proceed because the suit sought damages of Rs 50 billion. The next hearing is set for Monday. In its petition, Macrotech Developers stated that between 2015 and 2017, it was initially agreed that each family member would take on some assets and some debt as part of their separation. Later, Abhinandan insisted he didn’t want to manage the customers, debt, or construction and preferred only money. As a result, Abhishek and their parents were left with Rs 200 billion in debt, while Abhinandan took a Rs 10 billion payout to start his business. HoABL has rejected this statement, calling it false and contradicting their own court filings, where they attached the family settlement agreement from 2017. The company emphasized that Macrotech is misleading the public, adding that other issues mentioned in the annexure will be addressed at the appropriate forum. In 2015, Abhinandan Lodha separated from the Lodha Group and started his own business, formalized through a family settlement in 2017. However, due to non-compliance, a new agreement was signed in December 2023, which barred Abhinandan from using any names similar to ‘Lodha.’ The agreement stated that if Abhinandan complied, Abhishek would allow the use of ‘House of Abhinandan Lodha.’ By 2023, Lodha Group had become a publicly listed entity and wasn’t part of the agreement. The listed company, as the trademark owner, never granted permission for the name. The 2023 agreement was terminated due to non-compliance, nullifying any prior consent for ‘House of Abhinandan Lodha,’ according to the petition.

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