Lodha Brothers Resolve Disputes

In a significant development, the Lodha brothers - elder brother, Abhishek Lodha and younger brother, Abhinandan Lodha - and the companies led by them, have amicably resolved all outstanding disputes under the guidance of their parents.

The following has been agreed and confirmed by the parties:

- Macrotech Developers Ltd. ("MDL"), is the owner of, and has the exclusive right to use, the brand names 'Lodha' and 'Lodha Group'.

- Mr. Abhinandan Lodha, is the owner of, and has the exclusive right to use the brand name 'House of Abhinandan Lodha' ("HoABL").

- 'Lodha Group' and 'House of Abhinandan Lodha' have no connection with each other. Both entities will communicate this widely.

- Abhinandan has no rights or claims in Lodha Group or MDL or other businesses of Abhishek. Abhishek has no rights or claims in HoABL or other businesses of Abhinandan.

Both Abhishek and Abhinandan express their heartfelt gratitude to Hon'ble Justice R.V. Raveendran (Retd.), whose guidance in the mediation process was invaluable. The family is grateful to the Hon'ble Justice Arif Doctor for encouraging them to follow the process of mediation. They also extend their sincere appreciation to all family elders and well-wishers who provided their counsel and support throughout the resolution process.

The family conveys its thanks to the media for their understanding and respect for privacy during this time. No further statements will be made on the matter.

Shares of Macrotech Developers Limited was last trading in BSE at Rs. 1122.20 as compared to the previous close of Rs. 1111.65. The total number of shares traded during the day was 51798 in over 3461 trades.

The stock hit an intraday high of Rs. 1143.85 and intraday low of 1104.00. The net turnover during the day was Rs. 58168718.00.

Source : Equity Bulls

Keywords

MacrotechDevelopers INE670K01029 LODHA Realty Disputes Resolved