Shardul and Cyril Shroff, the managing partners of Amarchand Mangaldas in New Delhi and Mumbai, respectively, are continuing with mediation efforts to resolve a dispute over the will of their mother, Bharati Shroff.
The Economic Times (ET) and Mint have speculated that the brothers will divide the firm, reporting that Shardul will assume responsibility for the firm’s offices in Delhi, Gurgaon, Kolkata and Ahmedabad, while Cyril will take over the firm’s operations in Mumbai, Bangalore, Chennai and Hyderabad.
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In a letter, former Supreme Court justice BN Srikrishna, on behalf of the mediation panel, reprimanded the newspapers for “certain incorrect and irresponsible reports” relating to the mediation proceedings.
“We have read articles in the front page of ET and in the Mint and other publications,” wrote Justice Srikrishna. “The mediation process towards an amicable settlement is still on and such articles impede and interfere in the process of mediation which is pursuant to orders of the Mumbai High Court.” He added that if such reports continued, the panel would be “constrained to inform the High Court of an attempt to interfere in a process that has been mandated by the court and is sub judice.”
India Business Law Journal contacted both brothers for comment. Vandana Shroff, Cyril’s wife and a partner at Amarchand in Mumbai, said she did not wish to comment as the matter was “sensitive” and a “work-in-progress”.
Shardul Shroff told India Business Law Journal: “The mediation is ongoing and both Cyril and I are participating in the same without hesitation.”
“The mediation is expected to be over by March 31 at the latest,” he added.
Meanwhile, Amarchand Mangaldas has been named India Business law Journal’s 2014 Law Firm of the Year.
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