In a twist in the family feud, Abhishek Lodha-run Macrotech Developers on Wednesday alleged younger brother Abhinandan's firm fabricated documents to misuse the company's brand name to further its business interests.
The allegations were denied by an entity run by Abhinandan Lodha.
In an exchange filing months after the Bombay High Court asked the siblings to amicably resolve the dispute over the usage of the "Lodha" brand name, Macrotech alleged a conspiracy by the younger brother's 'House of Abhinandan Lodha' (HoABL) to fabricate documents to misuse the company's goodwill, brand and registered trademarks.
Earlier, Abhishek had dragged Abhinandan to the high court seeking restraint on the use of the brand name Lodha, and court also appointed a retired justice to mediate in the matter.
In February, their mother had written a letter to the bickering siblings asking the two to settle the differences and added that this was the opinion after consulting their father Mangal Prabhat Lodha, a prominent BJP politician who is also a minister in Maharashtra.
Macrotech said its board perused through the relevant documents at its meeting on Wednesday and took "serious cognizance of the conspiracy".
A special committee of the board has been constituted to take appropriate legal action and Abhishek has requested not to be part of this panel.
It claimed that HoABL entities used fake Board Resolutions of Macrotech containing a 'no objection' for use of trademarks and filed the same with government authorities, but made it clear that no such meet was held on the purported date, nor has the board ever discussed or approved any such resolution.
Apart from that, such 'resolutions' filed with the government authorities have a forged signature of one of Macrotech's independent directors and investigations have revealed that the director's PAN card has also been tampered with fake signature and photograph, it said.
Macrotech further alleged that the boards of at least two HoABL firms approved and procured a change in their corporate names to the names starting with 'Lodha' from the relevant government authorities, using the above-referred documents and used the changed name of these companies for furtherance of their business activities.
In a statement issued later, HoABL denied the allegations of forgery and fraud, and said it will come back with a detailed response.
"We are internally looking into the matter and shall revert with our detailed response," a spokesperson for Lodha Ventures said.
Macrotech Developers, which sells properties under the 'Lodha' brand, is one of the leading real estate firms in the country, while the HoABL is into the development of residential plots across major cities.
Macrotech scrip closed 5.28 per cent up at Rs 1,218.8 a piece on the BSE as against gains of 0.78 per cent on the benchmark.
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