Bank of Baroda caught in bitter battle as two factions of billionaire Hinduja clan fight over a disputed deposit
Barristers representing Bank of Baroda, Hinduja Banque, and Amas Limited presented their arguments in London’s High Court, offering a rare glimpse into the ongoing family conflict. Representational pic
The London branch of Bank of Baroda has found itself embroiled in the high-profile Hinduja family feud. At the centre of the dispute is 11 million dollars (approximately Rs 100 crore) lying with the bank, which is now subject to competing claims between Hinduja Banque, a Swiss bank, and Amas Limited, a company incorporated in the Bahamas.
Hinduja Banque is controlled by the Hinduja brothers, while Amas is linked to Hinduja brothers. A few years ago, a rift emerged between the two factions regarding how the family’s financial affairs and succession issues should be managed. On Wednesday, barristers representing Bank of Baroda, Hinduja Banque, and Amas Limited presented their arguments in London’s High Court, offering a rare glimpse into the ongoing family conflict.
The dispute
Bank of Baroda currently holds a credit balance of 11 million dollars, originating from a 30.7 million dollars deposit made by Hinduja Banque over a decade ago. These funds, originally drawn from Amas’s USD account with Hinduja Banque, were provided as security for a loan to one of the brothers. According to court documents, Bank of Baroda, represented by William Edwards KC and instructed by Abhijit Khandeparkar of CND Parker, said that a dispute has existed since mid-2024 between Hinduja Banque and Amas over who is entitled to the 11 million dollars.
Maintaining a neutral stance, Bank of Baroda has proposed that the money be deposited with the court while the two parties pursue their competing claims. Richard Power, the barrister representing Hinduja Banque, told the court that the money should be paid to his client and held in Amas’s account at Hinduja Banque. “HB [Hinduja Banque] has made it clear that, upon receipt of the funds from Bank of Baroda, the money will be deposited in Amas’s client account with HB,” Power said.
However, Hinduja Banque insists that Amas must comply with Know Your Customer (KYC) protocols and provide the necessary documentation to satisfy regulatory requirements. The Swiss bank maintains that as a registered financial institution, it must adhere to proper procedures. In contrast, Ben Woolgar, representing Amas, argued that his client believes Hinduja Banque’s compliance stance is driven less by regulatory necessity and more by internal family politics. He told the court that while the bank claims it would return Amas’s money, it has gone to “enormous trouble and cost” to prevent that outcome.
Bank seeks legal protection
Given the situation, Bank of Baroda has applied for ‘stakeholder relief’, a legal mechanism used when multiple parties make competing claims against a third party that has no vested interest in the disputed funds. The application, filed on December 5, 2024, aims to shield the bank from liability. On July 11, 2024, Amas instructed BoB to transfer the 11 million dollars to an account in its own name at the bank. But on 25 July 2024, law firm Macfarlanes, acting on behalf of Hinduja Banque, warned BoB against releasing the funds to any third party not involved in the original contract. In November 2024, BoB informed Hinduja Banque that it would release the funds if the bank provided an indemnity against any claims from Amas. Hinduja Banque refused, reinforcing BoB’s belief that such claims were indeed likely.
The Hinduja brothers
The Hinduja business empire, founded more than a century ago by Parmanand Hinduja, was built up by his four sons. Just two months ago, the family once again topped the UK’s Sunday Times Rich List for 2025, with an estimated wealth of £35.3 billion. However, the ongoing feud between the heirs of Hinduja and the three younger brothers has led to litigation in both England and Switzerland. Due to internal disputes over his care funding, the London High Court had at one point considered admitting him to a public nursing home. An official solicitor had been appointed to represent his interests in his final months.
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