Hinduja Group chairman S P Hinduja passes away in London at age of 87
New Delhi, May 17: His business successes which started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964 made him one of the richest in Britain but it was the Bofors scam that made Srichand Parmanand Hinduja famous, or rather infamous, back home.
SP Hinduja, as he was known, died in London on Wednesday after a prolonged illness. He was 87, a family spokesperson said.
Born in a business family in Karachi, British India, he and his two younger brothers were accused of receiving payments totalling Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract. All three - Srichand, Gopichand, and Prakash Hinduja, were however exonerated by the Delhi High Court in 2005.
SP Hinduja, the eldest of four brothers and chairman of Hinduja Group, lost his wife, Madhu, in January this year. She was 82. He is survived by his daughters, Shanu and Vinoo.
The Hinduja empire was started by Parmanand Deepchand Hinduja, who traded goods in the Sindh region of India (now Pakistan) before moving to Iran in 1919. In 1964, SP Hinduja distributed Raj Kapoor-starred 'Sangam' movie through the Middle-East markets which helped him earn his first million dollars.
And when Indira Gandhi had a disagreement with the Shah of Iran over high oil prices, SP and his brothers used the offer of the Iranian monarch to increase Indian exports to the Persian Gulf nation, shipping iron ores to commodities.
In 1980, they acquired a stake in Indian truck and bus manufacturer Ashok Leyland. They also took control of the Gulf Oil International Company from Chevron Corp to venture into the oils and lubricants business.
In 1993, SP Hinduja ventured into banking, with IndusInd Bank. The then Finance Minister Manmohan Singh was invited to the inauguration of the bank.
In the following year, he founded the only Indian-owned Swiss bank, S P Hinduja Banquee Privee, which has its headquarters in Geneva, Switzerland. With branches in Zurich, London, and Dubai, the bank offers investment advisory and wealth management services to big businessmen and entrepreneurial clients.
All this happened at a time when the Bofors scandal rocked India. The Rs 1,437 crore deal for the supply of 400 units of 155 mm Howitzer guns for the Indian Army was entered into on March 24, 1986.
Swedish Radio on April 16, 1987, claimed that the company had paid bribes to top Indian politicians and defence personnel. CBI registered a case against Martin Arbdo, the then president of AB Bofors, alleged middleman Win Channda, and the Hinduja brothers.
The Hinduja brothers were exonerated in 2005 due to a lack of evidence.
The brothers who have been intensely secretive about the size of their wealth, have been sparring in British courts over control of family assets.
The family is however more open about its political ties and has had close relationships with a host of world leaders, ranging from the late Shah of Iran to George Bush Sr and Tony Blair.
In 2006, the Hinduja brothers spent USD 58 million on a 25-bedroom mansion on London's Carlton House Terrace Street which is down the Mall from Buckingham Palace.
"Gopichand, Prakash, Ashok, and the whole Hinduja family with a heavy heart regret to announce the passing away of our family patriarch, and Chairman of the Hinduja Group, Mr. S P Hinduja today," the family spokesperson said in a statement.
It described him as a "visionary and mentor to the family bestowing the founding principles and values of our late father, PD Hinduja.
"He played a very important role alongside his brothers in building a strong relationship between his host country, the UK, and his home country, India," it said.
"A titan amongst his peers, S P Hinduja truly lived and embodied the Hinduja Group's founding principles and values. A deeply spiritual and philanthropic person, he was courageous in action and generous at heart.
His loss has left a huge void as the brothers have always been four bodies and one soul, the statement said.
"The Hinduja family is in grief and sorrow at his demise. Our prayers to the Almighty to grant his soul eternal place at His Lotus Feet."
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London, Nov 22: A bomb disposal squad deployed as a “precaution” to the South Terminal of Gatwick Airport concluded an investigation into a "security incident" on Friday after making a “suspect package” safe.
The South Terminal of Gatwick Airport, the UK's second busiest airport after Heathrow, which was briefly shut owing to the incident reopened following the incident.
The Gatwick is around 45 km south of London.
Two people detained during the enquiries have since been allowed to continue their journey as the airport was opened.
“Police have concluded their investigation into a report of a suspect package at Gatwick Airport. Officers from the EOD (Explosive Ordnance Disposal) team made the package safe, and the airport has been handed back to its operator,” Sussex Police said in an updated statement.
“Two people detained while enquiries were ongoing have subsequently been allowed to continue their journeys. There will remain an increased police presence in the area to assist with passengers accessing the South Terminal for onward travel,” the statement added.
Earlier on Friday, the incident caused severe disruption at the busy airport’s South Terminal, while the North Terminal of Gatwick Airport remained unaffected.
“Police were called to the South Terminal at Gatwick Airport at 8.20 am on Friday (November 22) following the discovery of a suspected prohibited item in luggage,” a Sussex Police statement said.
“To ensure the safety of the public, staff and other airport users, a security cordon has been put in place whilst the matter is dealt with. As a precaution, an EOD (Explosive Ordnance Disposal) team is being deployed to the airport. This is causing significant disruption and some roads around the South Terminal have been closed. We’d advise the public to avoid the area where possible,” it said.
Footage on social media taken outside the airport showed crowds of frustrated travellers being moved away from the terminal building.
Gatwick said it was working hard to resolve the issue.
“A large part of the South Terminal has been evacuated as a precaution while we continue to investigate a security incident," the airport said in a social media post.
“Passengers will not be able to enter the South Terminal while this is ongoing. The safety and security of our passengers and staff remain our top priority. We are working hard to resolve the issue as quickly as possible.”
Train and bus services that serve the airport were also impacted while the police carried out their inquiries.
In an unrelated incident in south London on Friday morning, the US Embassy area in Nine Elms by the River Thames was the scene of a controlled explosion by Scotland Yard dealing with what they believe may have been a “hoax device”.
“We can confirm the 'loud bang' reported in the area a short time ago was a controlled explosion carried out by officers,” the Metropolitan Police said in a post on X.
“Initial indications are that the item was a hoax device. An investigation will now follow. Some cordons will remain in place for the time being but the majority of the police response will now be stood down,” it added.
