Succession Dilemma at Hamdard India
| Case Code: BECG167 Case Length: 9 Pages Period: 1906-2019 Pub Date: 2021 Teaching Note: Available |
Price: Rs.300 Organization: Hamdard Laboratories Industry: food and beverages; Medicines Countries: India Themes: Family Business, |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
The Hamdard Trust
Hamdard was started with Hakeem as the sole proprietor. In 1922, after the passing away of Hakeem, the business was taken over by his wife Rabea Begum and two sons Hamid and Said. Rabea and her two sons executed an irrevocable trust deed (waqf) in 1948 to manage the affairs of Hamdard..
Changes in the Deed
In 1973, the Waqf deed was changed. As per the changed deed, there would be five members in the trust including the head of the trust and its chief. The chief was to be from among the members of the trust and the oldest descendent of the head. (In this case Hamid was the sole head of the trust and his eldest son Abdul Mueed, who was a member of the trust, was the chief. After the head passed away, the position could not be claimed by anyone else. The trust was run by the chief)..
The Next Generation Takes Over
In 1995, Hamid appointed his grandsons Abdul Majeed (Abdul Mueed’s first son, born in 1969) and Hamed Ahmed (eldest son of Hammad Ahmed, born in 1972) as fourth and fifth trustees of Hamdard Trust. In 1995, a board of trustees was constituted..
The Disputes Arise
In 2015, Abdul Mueed passed away. The role of Chief trustee fell vacant..
Exhibits
Exhibit I: About Rooh Afza
Exhibit II: Objective of Hamdard
Exhibit III: Hamdarad - Mission and Vision
Exhibit IV: Hamdard Laboratories Products*
Exhibit V: Hamdard Family – Genogram
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