Jehangir Wadia (also known as Jeh Wadia), son of Wadia Group chairman Nusli Wadia stepped down from managerial roles at several Wadia Group firms including Britannia Industries Ltd and Bombay Burmah Trading Corp.
Earlier, Wadia had quit the board of Go Airlines (now rechristened as Go First) and Bombay Dyeing.
In an annual report published last week, Britannia said that Wadia did not offer himself for re-appointment to managing director post.
“Mr Jehangir N Wadia, Non-Executive Director, who retires by rotation at the ensuing AGM in terms of Section 152 of the Companies Act, 2013, has not offered himself for re-appointment. The Board of Directors at their Meeting held on 30 July 2021 resolved not to fill the resulting vacancy and the same is placed before the Members at the ensuing AGM for their approval.” The report stated.
Sources close to the matter told LiveMint that Wadia resigned from the posts due to differences with his father, Nusli Wadia.
According to Hindustan Times, Go First in its draft documents for initial public offering(IPO) had mentioned that the firm was exploring legal action against Jeh Wadia, the company’s managing director until March 2021. Go First added that Jeh who owned the ‘Go Air’ brand name through a privately held firm, had made ownership claims over the brand and related trademarks.
Bombay Dyeing and Bombay Burmah had mentioned Jeh Wadia’s resignation in their annual reports.