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Bigger role for eldest Chhabria daughter

Reeba Zachariah in Mumbai

In what seems like a compromise, the Chhabria family is likely to give Bhavika Godhwani, the eldest of the late Manu Chhabria's three daughters, a bigger role within the Jumbo group of companies.

Bhavika recently sought a fourth of the share of the Jumbo group's businesses because she is unhappy with her current role.

Sources close to the family said: "Bhavika is likely to be involved more within the group, the details of which are being worked out."

They added that Bhavika might not have "too big a role initially" but, depending on her performance, she would be given greater responsibility.

The proposal was yet to be placed before the Jumbo group's corporate management board and a final decision would be taken after that, the sources said.

Bhavika is now only on the board of Hindustan Dorr-Oliver, the Mumbai-based engineering company.

Komal Wazir, the second daughter, is on the board of Shaw Wallace & Co as well as Dunlop, while Kiran is involved in the group's Dubai business.

A Jumbo group spokesperson said: "We are unable to comment on the issue at this stage. The Group chairperson wants the businesses to be run on professional lines wherein competence and merit are the critical determinants of an individual's role. Such decisions are, therefore, taken by the corporate management board, keeping all aspects in view."

As regards the division of Chhabria's estate (property and Jumbo group companies), Bhavika would be given a stake only after the consolidation of the group, and internal issues settled, the sources said.

Chhabria's other beneficiaries include Vidya Chhabria, Komal Wazir and Kiran Chhabria.

The spokesperson said: "As regards Manu Chhabria's estate, the family is currently in the process of crystallising the liabilities and duly providing for them. Any further decision will follow. However, this remains the family's internal matter."

The Jumbo group recently set up a corporate management board to convert itself into a professionally managed business entity. The group recently put H N Nanani in charge of its interests in India.

The interests include Shaw Wallace & Co, Dunlop India, Mather & Platt, Hindustan Dorr-Oliver, Falcon Tyres and Gordon Woodroffe. They have a total asset value of around $600 million.

The Dubai-based Jumbo Electronics, a Jumbo group company, is the world's largest distributor of Sony, and is also the biggest distributor of electronics products in the Gulf.

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