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Hero family splits in harmony

business Updated: Jun 11, 2010 22:47 IST
Hindustan Times
Munjal family

The Munjal family, which controls the Hero Group of companies that has origins in Ludhiana, has decided to realign the ownership of its businesses it collectively controls, giving the scions of the automotive-led conglomeration a clear sense of autonomy and ownership in an an atmosphere of harmony.

How it happened

Promoter cross-holdings untangled
Assets consolidated in the name of relevant family sub-set
Cross-holdings eliminated
Existing management and control structures in group entities retained

Who gets what in the settlement

Brij Mohan Lal Munjal's family

Pawan Munjal

Hero Corporate Services

Sunil Kant Munjal
Suman Kant
Hero Soft and Easy Bill
Late Raman Kant Munjal's family
Rockman Cycle
O P Munjal
Hero Cycles and Hero Motors
Satyanand Munjal's sons
Majestic Auto, Highway Cycle
Munjal auto and Munjal Showa
Late Dayanand Munjal's son - Ashok
Sunbeam Auto
Ashok Munjal's brother Vijay
Hero Exports