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India's Godrej family aims to quietly unwind business empire

Upholding 'reputation' could blaze trail in country known for familial feuds

Godrej group patriarch Adi Godrej. (Source photos by Ken Kobayashi and AP)

MUMBAI -- In a country notorious for billionaire business family feuds, a 124-year-old Indian family conglomerate is aiming to break the mold without a whiff of conflict, as it puts finishing touches to a succession plan that would equitably divide family assets among members and hand the businesses to a new generation of leaders.

India's Godrej Group, which controls an empire encompassing door locks to cleaning products with annual revenues of 379 billion rupees ($5 billion), is currently working with lawyers and bankers to untangle the complex cross-holdings among the group's listed companies and reduce the tax burden on the transfer of huge swathes of land in Mumbai -- an effort led by group patriarch Adi Godrej, 79, and cousin Jamshyd Godrej, 72.

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