Two firms emerge from brothers' dissolved firm in India
Amarchand & Mangaldas & Suresh A. Shroff & Co. from their mother, dissolved the business and split the remains into two new firms. After a dispute that emerged from the conflicts between their mothers' will and the firm's partnership deed, the brothers entered a mediation and emerged with an agreement to split the firm.
Shardul Shroff, the older of the two brothers, will form the Delhi arm of the old firm into Shardul Amarchand Mangaldas & Co. Cyril Shroff will form the Mumbai arm of the old firm into Cyril Amarchand Mangaldas.
Before its breakup, Amarchand & Mangaldas lasted 98 years, having been founded in 1917 by the brothers' grandfather, Amarchand Shroff.
Shardul Amarchand Mangaldas & Co include existing offices from the old firm in New Delhi, Ahmedebad, Gurgaon and Kolkata with plans to launch an office in Bangalore as well as three office in Mumbai.
Cyril Amarchand Mangaldas include existing offices from the old firm in Mumbai, Bangalore, Chennai and Hyderabad with plans to launch an office in Delhi by 1 June.