Hinduja Group
Hinduja Group is an Anglo-Indian transnational conglomerate.[3]
Hinduja Group
The group is present in eleven sectors including automotive, oil and
specialty chemicals, banking and finance, IT and ITeS, cyber
security, healthcare, trading, infrastructure project development,
media and entertainment, power, and real estate. The Hinduja
brothers have around 100 billion dollars of assets around the world.
The Hinduja family has around 50 billion dollars of assets in
America. The current net worth of Hinduja brothers is 100 billion
dollars.[4][5]
Contents [hide]
1 History Type Private
2 Hinduja Group companies Industry Conglomerate
3 Controversies Founded 1914; 108 years ago
3.1 Bofors scandal Founder Parmanand Deepchand
3.2 2001 Hinduja affair Hinduja
3.3 Ashok Leyland Headquarters Mumbai, Maharashtra,
India
4 References
Area served Worldwide
Key people S. P. Hinduja
(chairman)
History [ edit ]
Ashok Hinduja
(chairman, India)
The company was founded in 1914 by Parmanand Deepchand
Products Automotive
Hinduja, who was from a Sindhi family based in India.[6] Initially
Financial services
operating in Shikapur (erstwhile Pakistan) and Mumbai, India, he ITES
set up the company's first international operation in Iran in 1919. Oil and Gas
Media
The headquarters of the group remained in Iran until 1979, when Telecom
the Islamic Revolution forced it to move to Europe.[7][8] Healthcare
Revenue US$50 billion (2021)[1]
Group Chairman Srichand Hinduja and his brother Gopichand, also
Owner Hinduja family
Co-Chairman, moved to London in 1979 to develop the export
business; the third brother Prakash manages the group's Number of 200,000+[2]
employees
operations in Geneva, Switzerland while the youngest brother,
Website www.hindujagroup.com
Ashok, oversees the Indian interests.[9]
The group employs over 200,000 people and has offices in many major cities around the world including in
India.[2] In 2017, Srichand and Gopichand Hinduja were described as the wealthiest men in Britain with an
estimated wealth of £16.2 billion in the Sunday Times Rich List 2017.[10]
In 2015, at The Asian Awards, the Hinduja brothers were honoured with the Business Leader of the Year
Award.[11] Ashok Hinduja was felicitated with the ABLF Global Asian Award at the UAE Government-backed
Asian Business Leadership Forum in 2017. OneOTT Intertainment Limited (OIL), the Media Vertical arm of
Hinduja Group, was awarded the 2019 Innovation Leaders award by Telecomlead.com.[12]
Hinduja Group companies [ edit ]
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Hinduja Housing Finance Ltd,..
Ashok Leyland
Optare
Ashok Leyland Foundries – a division of Ashok Leyland, also known
as Hinduja Foundries
P.D. Hinduja National Hospital and Medical Research Centre
Hinduja Healthcare Limited
Hinduja Bank (Switzerland) Ltd (formerly Amas Bank)
IndusInd Bank
Hinduja Leyland Finance Ltd
Hinduja Global Solutions Ltd
GOCL Corporation Ltd
Gulf Oil International Ltd
Gulf Oil Lubricants India Limited
Quaker-Houghton International Ltd
Hinduja National Hospital, Mumbai
Gulf Oil Middle East Ltd
Hinduja National Power Corporation Ltd
Hinduja Renewables Energy Private Ltd
Hinduja Realty Ventures Ltd
Hinduja Group India Limited
KPB Hinduja College of Commerce
NXTDIGITAL Ltd (formerly Hinduja Ventures Ltd) – includes
Nxtdigital Hits, OneOTT iNtertainment Ltd, INE, and INDigital
Cyqurex Systems Private Limited
Hinduja National Hospital's mobile
British Metal Corporation (India) Pvt Ltd clinics built on Ashok Leyland platforms
Hinduja Investments and Project Services Ltd
Controversies [ edit ]
Bofors scandal [ edit ]
Main article: Bofors scandal
Srichand, Gopichand and Prakash Hinduja were connected with the investigation into the Bofors scandal, in
which Swedish firm Bofors was alleged to have paid illegal bribes to government officials and politicians in
connection with the US$1.3 billion sale of 400 howitzers to the Indian Government in 1986. The three brothers
were charged by the Indian Central Bureau of Investigation in October 2000,[13] but in 2005 the High Court in
Delhi threw out all charges against them, citing a lack of evidence and saying that documents central to the
prosecution case were "useless and dubious" since their provenance could not be verified. Judge RS Sodhi said:
"I must express my disapproval that 14 years of trial and ₹2.5 billion (US$31 million) of public money was spent
on the case. It has caused huge economical, emotional, professional and personal loss to the Hindujas."[14]
2001 Hinduja affair [ edit ]
In January 2001, it was revealed that UK government Minister Peter Mandelson had telephoned Home Office
minister Mike O'Brien on behalf of Srichand Hinduja, who was at the time seeking British citizenship, and whose
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family firm was to become the main sponsor of the "Faith Zone" in the Millennium Dome. Consequently, on 24
January 2001 Mandelson resigned from the Government for a second time,[15][16] insisting he had done nothing
wrong. An independent enquiry by Sir Anthony Hammond came to the conclusion that neither Mandelson nor
anyone else had acted improperly.
In January 2001, immigration minister Barbara Roche revealed in a written Commons reply that Keith Vaz,
Member of Parliament for Leicester East and at the time a Foreign Office minister, and other MPs, had also
contacted the Home Office about the Hinduja brothers, saying that Vaz had made inquiries about when a
decision on their application for citizenship could be expected.[17]
On 25 January, Vaz became the focus of Opposition questions about the Hinduja affair and many parliamentary
questions were tabled, demanding that he fully disclose his role. Vaz said via a Foreign Office spokesman that he
would be "fully prepared" to answer questions put to him by Sir Anthony Hammond QC who had been asked by
the Prime Minister to carry out an inquiry into the affair. Vaz said that he had known the Hinduja brothers for
some time; he had been present when the charitable Hinduja Foundation was set up in 1993, and had also
delivered a speech in 1998 when the brothers invited Tony and Cherie Blair to a Diwali celebration.[18]
On 26 January 2001, Prime Minister Tony Blair was accused of prejudicing the independent inquiry into the
Hinduja passport affair, after he declared that Keith Vaz had not done "anything wrong". On the same day, Vaz
told reporters that they would "regret" their behaviour once the facts of the case were revealed. "Some of you are
going to look very foolish when this report comes out. Some of the stuff you said about Peter, and about others
and me, you'll regret very much when the facts come out," he said. When asked why the passport application of
one of the Hinduja brothers had been processed more quickly than normal, being processed and sanctioned in
six months when the process can take up to two years, he replied, "It is not unusual."[19]
On 29 January, the government confirmed that the Hinduja Foundation had held a reception for Vaz in
September 1999 to celebrate his appointment as the first Asian Minister in recent times. The party was not listed
by Vaz in the House of Commons Register of Members' Interests and John Redwood, then head of the
Conservative Parliamentary Campaigns Unit, questioned Vaz's judgement in accepting the hospitality.[20]
In March, Vaz was ordered to fully co-operate with a new inquiry launched into his financial affairs by Elizabeth
Filkin, who was Parliamentary Commissioner for Standards at the time. Foreign Secretary Robin Cook, Vaz's
superior, also urged him to fully answer allegations about his links with the Hinduja brothers. Mr Vaz met Mrs
Filkin on 20 March to discuss a complaint that the Hinduja Foundation had given the sum of £1,200 to Mapesbury
Communications, a company run by his wife, in return for helping to organise a Hinduja-sponsored reception at
the House of Commons. Vaz had previously denied receiving money from the Hindujas, but insisted that he made
no personal gain from the transaction in question.[21][22]
In June 2001, Vaz admitted that he had made representations during the Hinduja brothers' applications for British
citizenship while a backbench MP. Tony Blair also admitted that Vaz had "made representations" on behalf of
other Asians.[23] On 11 June 2001 Vaz was dismissed from his post as Europe Minister, to be replaced by Peter
Hain. The Prime Minister's office said that Vaz had written to Tony Blair stating he wished to stand down for
health reasons.[24]
In December 2001, Elizabeth Filkin cleared Vaz of failing to register payments to his wife's law firm by the Hinduja
brothers, but said that he had colluded with his wife to conceal the payments. Filkin's report said that the
payments had been given to his wife for legal advice on immigration issues and concluded that Vaz had gained
no direct personal benefit, and that Commons rules did not require him to disclose payments made to his wife.
She did, however, criticise him for his secrecy, saying, "It is clear to me there has been deliberate collusion over
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many months between Mr Vaz and his wife to conceal this fact and to prevent me from obtaining accurate
information about his possible financial relationship with the Hinduja family".[25]
Ashok Leyland [ edit ]
In February 2005 Ashok Leyland, an India-based flagship company of the brothers' Hinduja Group, announced
an agreement to supply 100 army vehicles to the Sudanese Defence Ministry. It was alleged by arms campaigner
Mark Thomas that this contravened UK arms export legislation, as a number of the company's directors were UK
residents or citizens.[26]
References [ edit ]
1. ^ "HINDUJA GLOBAL SOLUTIONS LIMITED : Financial Data Forecasts Estimates and Expectations | HGS |
INE170I01016 | MarketScreener" .
2. ^ a b "Hinduja Group" . Hinduja Group. Retrieved 19 September 2020.
3. ^ "Hinduja Group Ltd" . www.bloomberg.com.
4. ^ "Who are the Hinduja brothers" . The Mirror. 7 May 2017. Retrieved 8 May 2017.
5. ^ "Hinduja Group of Companies – List of Subsidiaries" . 18 February 2020.
6. ^ Halime, Farah (24 December 2010). "Hinduja, a 'relatively' successful billionaire" . The National. Retrieved
5 August 2016. "The family's success began with their father, Parmanand, who came from the Sindh province of what
is now Pakistan..."
7. ^ "Podcast | The business of family — The Hindujas" . Moneycontrol. Retrieved 10 June 2020.
8. ^ Miller, Hugo; Browning, Jonathan (23 November 2021). "Billionaire Family Feud Puts a Century-Old Business
Empire in Jeopardy" . Bloomberg News. Retrieved 28 November 2021.
9. ^ Tim McGirk (12 January 1996). "This is Dynasty, Indian-style" . The Independent.
10. ^ Sonwalkar, Prasun (7 May 2017). "Hinduja brothers stay on top of UK rich list" . Hindusthan Times. Retrieved
7 May 2017.
11. ^ Wareing, Charlotte (17 April 2015). "Asian Awards 2015: All the winners from the star-studded bash" . Daily Mirror.
12. ^ Lead, Telecom (14 October 2019). "Winners of TelecomLead.com Innovation Leaders 2019 award" . TelecomLead.
13. ^ "BBC News - SOUTH ASIA - Bofors charges against Hindujas" .
14. ^ "BBC NEWS - South Asia - Q&A: Hinduja Bofors case" . 31 May 2005.
15. ^ "BBC News | SOUTH ASIA | Mandelson resigns over Hinduja affair" . News.bbc.co.uk. 24 January 2001. Retrieved
3 October 2008.
16. ^ "No. 56106" . The London Gazette. 31 January 2001. p. 1223.
17. ^ Grice, Andrew (22 January 2001). "MPs to quiz Mandelson on passport for Hinduja" . The Independent. London.
18. ^ Sengupta, Kim (26 January 2001). "Vaz sidesteps questions on links with Hindujas" . The Independent. London.
19. ^ Waugh, Paul; Kim Sengupta (27 January 2001). "Vaz defiant over his role in Hinduja passport scandal" . The
Independent. London.
20. ^ Woolf, Marie (30 January 2001). "Hindujas held party to celebrate Vaz being appointed a minister" . The
Independent. London.
21. ^ Woolf, Marie (22 March 2001). "Filkin launches new investigation into cash links between Vaz and Hindujas" . The
Independent. London.
22. ^ Grice, Andrew; Stephen Castle (24 March 2001). "Downing Street orders Vaz to help inquiry" . The Independent.
London.
23. ^ George, Jones; Womack, Sarah (19 June 2001), "Vaz admits greater role over Hinduja passport" , The Daily
Telegraph, London
24. ^ Woolf, Marie; Andrew Morris (12 June 2001). "After months of claims and counter claims, Vaz is finally sacked as
Minister for Europe" . The Independent. London.
25. ^ Wintour, Patrick (24 December 2001). "Vaz cleared over Hinduja payments to wife" . The Guardian. London.
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26. ^ "House of Commons - Quadripartite Committee - Written Evidence" .
Categories: Hinduja Group Bus manufacturers of India Holding companies established in 1914
Conglomerate companies of India Engineering companies of India Truck manufacturers of India
Indian companies established in 1914 Hinduja family
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