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Amarchand Mangaldas break-up (and filial mediation) postponed by month to April-end

The break up of Amarchand Mangaldas, whose Delhi and Mumbai-based managing partners and brothers Shardul and Cyril Shroff respectively are currently mediating about the future of the firm, has been postponed by at least a month, with the Bombay high court having been told that the mediation would not complete before April-end.

The deadline to conclude the mediation was postponed to 30 April 2015 in the Bombay high court, confirmed two independent sources close to the matter.

The mediation is presided over by former Supreme Court judge BN Srikrishna, senior counsel Harish Salve and Nimesh Kampani, founder and chairman of the JM Financial group.

The mediation deadline has been extended several times, having originally been set for 31 December 2014 by the Bombay high court, where Shardul filed a case against Cyril and the Bombay partnership following a dispute about their late mother’s will and equity holdings in the firm.

Both Cyril and Shardul have registered new independent web domains, with Cyril having secured office space in Delhi and Shardul in the process of doing so.

Shardul and Cyril did not respond to messages seeking comment.

Update: The Bombay high court order is out (hat-tip @superselector5)

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