Sunday, November 06, 2005

Trouble brewing in Mafatlal family

NDTV: "There is trouble brewing in another reputed business family in the country.

The impressive 14-bedroom Mafatlal residence in upscale Altamount Road in Mumbai is at the centre of the split in yet another business family.

The widow of textile giant Yogindra Mafatlal, 72-year-old Madhuri, the matriarch of the Mafatlal family, has dragged her elder son and daughter-in-law to court.

In a lawsuit, Madhuri alleges that her son Atulya and his wife Sheetal are trying take over the entire property, which is worth over Rs 20 crores.

A few years ago, the late Yogindra Mafatlal apportioned 10,000 square feet of space on the second floor of the Mafatlal Building into two parts.

The northern portion consisting of three bedrooms went to his elder son Atulya Mafatlal when he got married in the year 2000.

The southern portion went to the younger son Ajay Mafatlal and his mother Madhuri.

The central portion of the house was meant for common use consisting of the living and dining areas, kitchens, study, puja room and servants' quarters.

Madhuri Mafatlal alleges that after the death of her husband on January 7 this year, Atulya and Sheetal have barred access to large parts of the property and placed security guards in the common area.

''Allegations made by Madhuri are Atulya and Sheetal are trying to take over the property, making it unlivable for my client and her other son Ajay, by locking certain portions of the house that were commonly enjoyed by all, and by removing certain family heirloom. They have made it very very uncomfortable and hostile for the family," said Haresh M Jagtiani, senior advocate.

Atulya and Sheetal or their lawyers were unavailable for comment.

Last week, the High Court had passed an injuction ordering Atulya to remove the guards from the house and allow access to the common areas.

Now, hearings continue into allegations of mismanagement of the family trust and the priceless heirlooms that are missing from the house. "

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