MESSAGES

Godrej billionaire Rishad Naoroji leaves wealth to nephews and nieces after group split Godrej billionaire Rishad Kaikhushru Naoroji, a cousin to Adi and Jamshyd Godrej, has decided to gift most of his shares in group firms to nephews and nieces, the Mint reported. His shares in Godrej Agrovet, Godrej Consumer, Godrej Properties and Godrej Industries worth about Rs 7,050 crore will be transferred to the two branches of the family in proportion to their realigned holding in these companies. Why it%u2019s important: This is a very rare instance of corporate India%u2019s superrich voluntarily leaving wealth to close relatives after the promoter family has divided the business interests amongst themselves.