Cyril and Shardul Shroff, the managing partners of Amarchand Mangaldas in Mumbai and New Delhi, respectively, have decided to resolve a dispute over their mother’s will through mediation.
Bharati Shroff, the largest single equity holder of Amarchand Mangaldas after the death of her husband, Suresh Shroff, passed away on 24 August 2014 at the age of 84.
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She specialized in real estate law and was a member of the firm’s management committee.
The fight between the brothers began on 14 November when elder brother Shardul filed a suit in Bombay High Court against Cyril, Cyril’s wife Vandana Shroff, partner L Viswanathan, management committee members George Goulding and James Abraham, and CFO Ashwin Maheshwari, over the ownership and assets of the firm.
Bharati had willed her entire estate, including her partnership units to Shardul. However, Cyril argued that his mother’s share was to be divided equally between the brothers according to a family framework agreement.
In 2012, Bharati had appointed Shardul as the sole executor and trustee of her will, saying that she wanted Cyril and his family kept out of the management of her estate. In January 2014, she added a codicil to the will stating she wished to cut Cyril and his family off and exclude them totally from inheriting any of her assets.
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