Macrotech Claims Rs 10 Bn paid to Abhinandan Lodha
Real Estate

Macrotech Claims Rs 10 Bn paid to Abhinandan Lodha

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.

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.

Next Story
Real Estate

Thermocool Home Appliances Invests Rs 300 million in New Ghaziabad Plant

Thermocool Home Appliances, a leading UP-based home and kitchen appliances brand, has inaugurated a new manufacturing facility in Ghaziabad, reinforcing its growth, innovation, and sustainability commitments.Spanning 25,000 square meters, the plant features advanced automation, energy-efficient systems, and employee welfare facilities. With an initial production capacity of 1,800-2,200 units/day, the company plans to scale up to 3,000-4,000 units/day within six months and expand the facility by 50 percent over the next two years.The Rs 300 million investment will cater to rising demand across ..

Next Story
Building Material

Parallel debuts fluted glass collection, redefining luxury interiors

Parallel has launched an exquisite collection of tinted, extra-clear, and designer fluted glass, introducing a new dimension to contemporary interiors.Fluted glass, known for its vertical striations, diffuses light while sculpting silhouettes with a refined aesthetic. Parallel’s range includes smoky tinted variants, pristine extra-clear options, and metallic-infused designs, ideal for partitions, doors, and wall treatments that balance exclusivity with openness.Emphasising sensory design, the collection enhances spaces by creating dynamic light interactions. Crafted for luxury residences, ho..

Next Story
Building Material

Nivasa unveils luxury lighting collection blending artistry and innovation

Nivasa, a leader in luxury furniture design, has launched an exquisite lighting collection inspired by nature, combining sculptural aesthetics with masterful craftsmanship.Crafted from premium 304-grade stainless steel, each piece showcases a refined interplay of organic and sleek forms, offering a range of finishes for bespoke customization. Designed for grand foyers, intimate spaces, and sophisticated interiors, the collection merges contemporary finesse with global design standards.Collection highlights include:Circular Drummer’s Chandelier – A geometric yet fluid design in a light gold..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?