This story is from June 10, 2008

Sanghi empire all set to split

K V Ramana / TNN / Jun 10, 2008, 00:57 IST

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The Rs 1,800 crore Sanghi group, which has interests in diverse fields ranging from media to textiles, is all set to split with an ongoing feud between Sanghi brothers reaching its climax.

HYDERABAD: The Rs 1,800 crore Sanghi group, which has interests in diverse fields ranging from media to textiles, is all set to split with an ongoing feud between Sanghi brothers reaching its climax.
According to sources close to the family, the brothers are not in good terms now and the four brothers have now split into two groups with Anand Sanghi, the eldest, and Sudhir Sanghi, the second among the brothers, on one side.Ravi Sanghi, the third among the brothers, and Girish Sanghi, the youngest and a Rajya Sabha MP are now together waging a war against the elder brothers.
Though the feud has been on for sometime now, the differences among the brothers widened after the death of family patriarch Ramsharan Sanghi recently.
Started off in 1979 with a textile processing unit, Sanghi group has several companies with facilities to manufacture cement, polyester, polymers, zip fasteners, threads and spinning. The group has also been working on a plan to set up a special economic zone near Sanghi Nagar on the outskirts. Most of the group's activities are located in Sanghi Nagar, which has also turned into a tourist destination with the location of a Balaji temple on the campus.

It is the control of these assets that's become a contentious issue apart from the differences over the way the businesses are being managed. "It's not just about money or asset. But, the key issues on which the brothers disagree include certain business practices that are not approved by the children of Anand and Sudhir," the source said.
While no legal remedy is being sought at this point, the reorganisation of the group is more or less over. According to the division formula, Anand and Sudhir would get control over Sanghi Nagar, while Ravi would get Sanghi Industries with cement as its main component.
Girish would get control of textile business apart from AGA Publications, which is one of the key media houses in the state.

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