IIFT 2017 Question Paper Question 5

Question 5

Which London-based Group founded in mid-1910, started out as a moneylender before expanding the business to include imports of dried fruit, jute, textiles and tea. The business grew steadily under the Iate Shah of Iran as they were having large presence in Iran and continued to flourish even after Islamic Revolution forced it to move to Europe. It is now a multi billion-dollar energy, transport, media and agriculture conglomerate. The company had been in a bidding war to acquire the Express News papers group,and was one of several bidders for Go Fly, British Airways’ low-cost airline. This famous conglomerate has a large presence in India also. Identify the Group.

Solution

The Hinduja Group was founded by Parmanand Deepchandh Hinduja in the year 1914. It had strong ties with Iran. The Islamic revolution forced the company to move to London. The group has businesses across diverse sectors such as transport (Ashok Leyland), Energy (Ashok Leyland wind energy), Banking (IndusInd) etc. As of 2017, the Hinduja Brothers are among the richest persons in the UK. Therefore, option D is the right answer. 



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