Sibling Rivalry Costs Indian Tycoon In US ₹ 20,000 Crore. All About The Case
An obscure 21-year legal feud involving five brothers from India who have amassed a fortune in diamonds and Los Angeles real estate burst into public view this week with a multibillion-dollar US verdict that may be among the largest of the decade. Rivalry costs tycoon $2.7B USD After a five-month trial, a jury ordered Haresh Jogani to pay his brothers Shashikant, Rajesh, Chetan and Shailesh Jogani more than $2.5 billion (over ₹ 20,000 crore) in damages and to divide up shares of their Southern California property empire - about 17,000 apartments worth billions more. The trial, over allegations that Haresh breached a longstanding partnership with his siblings, continues with a punitive damages hearing Monday that could add to the award. The 2003 lawsuit already has been through 18 appeals, generations of attorneys and five judges in Los Angeles Superior Court. It's drawing comparisons from some of the lawyers to the fictional Victorian-era probate case that Charles Dickens wrote ab...