Priya Hiranandani-Vandrevala

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Priya Hiranandani-Vandrevala
Priya Hiranandani-Vandrevala at WEF 2012.jpg
Priya Hiranandani-Vandrevala at the World Economic Forum in 2012
Born
Priya Hiranandani

Mumbai, Maharashtra, India
NationalityIndian
Alma mater University of Mumbai
Occupation(s)Entrepreneur, Philanthropist, Founder of Zenta Group, Hirco & Vandrevala Foundation
SpouseCyrus Vandrevala
Children2
Parent
Relatives Lakhumal Hiranand Hiranandani (grandfather)

Priya Hiranandani-Vandrevala (born 1977) is an Indian entrepreneur and philanthropist, founder and former CEO of Zenta Group, a business process outsourcing firm. She co-founded and served as CEO of Hirco, a real estate company. She is the co-founder of the Vandrevala Foundation, a non-profit organization focused on mental health, along with her husband, Cyrus. [1] She was listed by the World Economic Forum as one of its Young Global Leaders in 2011. [2]

Contents

In 2012, she was named among the Evening Standard's top philanthropists [3] and in 2018, she and her husband were listed in the Asian Rich List with a combined net worth of £2.1 billion. [4]

Early life and education

Priya completed her postgraduate studies at the University of Mumbai. She is also a chartered accountant by education. She is the daughter of Niranjan Hiranandani. [5]

Career

Priya Hiranandani began her career with Arthur Andersen, a corporate finance firm. [6] In 2000, Priya Hiranandani-Vandrevala founded Zenta Group, a business process outsourcing (BPO) company, which provided services to financial institutions. The company was headquartered in Wayne, Pennsylvania, with operational offices in India. Priya served as the CEO of Zenta. [7]

By 2004, it became one of the largest BPO companies in India, [5] as per NASSCOM. [8] In 2005, she sold Zenta to H-Cube LLC, a US based company affiliated with private equity firm GTCR [9] for US$80 million (then around ₹350 crore), reportedly by Business Standard. [5] However, reports from both BizJournals [9] and Livemint suggest the sale value to be US$100 million, equivalent to ₹427.9 crores at that time. [10]

In late 2004, Priya took charge of Hiranandani Software and Systems, a software company and she was credited with its successful restructuring. [10] She also served as the chief executive officer of buildbyte.com, which was a construction portal in India with a focus on the e-commerce sector. [11]

In 2006, she co-founded Hirco, a real estate company and served as its CEO until 2010. The company later secured a listing on London Stock Exchange's Alternative Investment Market, with an infusion of £350 million directed towards two projects situated in Chennai and Panvel near Mumbai. [12]

In 2011, Priya Hiranandani-Vandrevala initiated an arbitration case, alleging a breach of a business association agreement by her father, Niranjan Hiranandani and brother, Darshan Hiranandani. The dispute centered around nearly 28 real estate projects valued at approximately ₹3,000 crore. Priya claimed that these projects violated the agreement, which required exclusive transactions between her, Niranjan and Darshan when acquiring and developing land. The arbitration case drew notice for its panel, which included Cherie Blair, wife of former British Prime Minister Tony Blair, Ajit Prakash Shah, ex-chief justice of the Delhi High Court and Lucy Reed, a UK Queen's Counsel. [13] In August 2013, London Court of International Arbitration's Indian subsidiary ruled in favor of Priya in the family business dispute with the Hiranandani Group after over two-and-a-half years of arbitration. [14]

In 2016, the Bombay High Court issued an interim directive, ordering Niranjan Hiranandani to pay ₹520 crore in compensation to Priya Hiranandani Vandrevala for breach of trust and infringement of the terms of a business agreement. [15] [16]

At the 2012 World Economic Forum in Davos, Switzerland, she chaired the WEF Real Estate Community's Steering Board. [17] In past, Priya was a member of the Indian Merchants' Chamber and served as a representative in its Telecom and IT Committee, advising the Indian government on various IT-related matters. [11] She co-founded Veldos, a BPO business, and H Living Inc, a real estate development company. [18]

Work

She is engaged in various social and philanthropic activities. In 2008, Priya founded the Vandrevala Foundation, a non-profit that supports mental health care. She launched the Mental Health - India initiative in 2009, for creating awareness about mental health and providing support services. [19] The foundation has implemented various initiatives, including a free helpline offering confidential counseling and referrals for mental health services. [20]

She collaborated with organizations such as the Gujarat Police, Emmanuel Hospital Association, St Stephen's Hospital, Delhi and the Mar Thoma Syrian Church to promote mental health on various occasions. [1] She serves as a patron of the Elephant Family, a wildlife charity run by Mark Shand and is also a board member of The American School in London. [21] She is a trustee on the University of Pennsylvania Medicine Board. [1]

In November 2013, Priya and her husband hosted the 65th birthday celebration of Prince Charles at Buckingham Palace. Prince Charles conveyed his gratitude to the Vandrevalas for sponsoring the event, with the proceeds subsequently donated to various charitable organizations. [22] [23]

Personal life

Priya is married to Cyrus Vandrevala, a UK-based businessman and investor. She is originally from Mumbai, India, currently lives in London. [21] The couple has two sons, named Jeh and Anand. [24]

Controversies

In February 2014, a legal dispute arose as Niranjan and Surendra Hiranandani, along with Hiranandani Constructions Pvt Ltd (HCPL), filed a suit in the Bombay High Court. They sought to prevent Priya Hiranandani-Vandrevala from using the name 'Hiranandani' in her business, following her establishment of Hiranandani Living Pvt Ltd (HLPL) in May 2013. [25] The petition challenged the name usage and seeking ₹50 crore for the alleged copyright infringement. [26]

In response to objections, HLPL issued a four-page letter, dismissing the claims as false and misleading. Priya, who also owned 10 registered 'Hiranandani' trademarks since 2008, argued the name's generic nature, calling it a common Sindhi surname and HLPL asserted no similarity with HCPL, citing the distinct words 'constructions' and 'living'. [25]

Defamation case against The Sunday Times

In October 2015, Priya Hiranandani filed a defamation case against Times Newspapers Ltd., the publisher of the British newspaper The Sunday Times , for publishing a defamatory and false article related to a legal case involving her company Hirco, in August 2015. [27] The High Court ruled the statements were defamatory, and The Sunday Times settled the claim in November 2016 by issuing apologies online and in print formats and removing the defamatory article from its website. [28] [29]

Awards and recognition

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References

  1. 1 2 3 Lal, Priyanshi (December 8, 2023). "Priya Hiranandani Vandrevala: Between intention and action, there must be intervention". DNA India . Retrieved 17 January 2024.
  2. 1 2 3 "12 Indians among WEF's Young Global Leaders". Rediff.com. March 14, 2011.
  3. 1 2 "London's 1000 most influential people 2011: Faith and Philanthropy". Evening Standard. April 6, 2012.
  4. 1 2 Millington, Alison (March 23, 2018). "The 21 richest Asians in the UK". Business Insider. Archived from the original on March 26, 2018.
  5. 1 2 3 4 Kamath, K Raghavendra (January 20, 2013). "Her father's daughter". Business Standard.
  6. ↑ Rashtriya Sahara. (2002). Volume 10, Issues 1-6, India: Sahara India Mass Communication.
  7. ↑ "GTCR buys stake in Zenta". The Economic Times. May 16, 2005.
  8. ↑ "American Capital Invests $28.5 Million in Indian BPO/ARM Provider". insideARM.com. September 12, 2006.
  9. 1 2 Bounds, Jeff (June 3, 2005). "H-Cube acquires Indian co". American City Business Journals. Archived from the original on October 13, 2008.
  10. 1 2 Kanekal, Nikhil; Nandy, Madhurima (December 29, 2011). "Twists and turns in a family dispute". Livemint.
  11. 1 2 "Call of the rebel". The Times of India. June 26, 2001.
  12. ↑ "Vandrevala: fighting back". Hindustan Times. May 11, 2014.
  13. ↑ Deshpande, Swati (March 21, 2012). "CCherie Blair to settle feud in Hiranandani family". The Times of India.
  14. ↑ Shrivastava, Prachi (August 8, 2013). "LCIA yet to bag 10th case as high-powered Hiranandani arbitration resolved with Cherie Blair, AP Shah, Karanjawala". Legally India.
  15. ↑ "Bombay HC directs Niranjan Hiranandani to pay daughter Priya ₹520 cr compensation". Business Line. January 16, 2018.
  16. ↑ Baghel, Sunil (March 19, 2019). "Hiranandanis' 10-yr feud ends, daughter Priya gets Rs 360 cr". Mumbai Mirror.
  17. ↑ Lal, Priyanshi (December 8, 2023). "Priya Hiranandani Vandrevala: Between intention and action, there must be intervention". DNA India.
  18. ↑ "Priya Hiranandani-Vandrevala". World Economic Forum.
  19. ↑ Thakur, Deepender (November 30, 2023). "मानसिक रोगियों के लिए वरदान है प्रिया का 'वंद्रेवाला फाऊंडेशन'". Punjab Kesari.
  20. ↑ "Extending A Lifeline With A Helpline: Bridging The Mental Health Gap". Times Now. December 14, 2013.
  21. 1 2 "Prince Charles' Bollygarch friends fight clan war". The Times. August 17, 2013. Archived from the original on February 26, 2020.
  22. ↑ "Indian billionaire couple hosts Prince Charles' birthday dinner". India TV. August 17, 2013.
  23. ↑ "Indian couple's party to benefit British charities". Business Standard. August 16, 2013.
  24. ↑ "Priya Hiranandani-Vandrevala Trustee at The American School in London". Theorg.com.
  25. 1 2 Sadhwani, Yogesh (February 28, 2014). "Priya Hiranandani fights to use famous surname as brand". Mumbai Mirror.
  26. ↑ "Trademark row: Niranjan Hiranandani files suit in HC against daughter, seeks Rs 50 cr". Mid-Day. February 19, 2014.
  27. ↑ "Publications must be taken as a whole when determining meaning, rules High Court". Pinsent Masons. February 19, 2016.
  28. ↑ "Hiranandani-Vandrevala makes statement in open court". 5rb.com. June 19, 2017.
  29. ↑ "Hiranandani-Vandrevala v Times Newspapers Limited". 5rb.com. February 12, 2016.
  30. ↑ Singh, Suhani (October 18, 2021). "Preserving our sanity: The Cyrus & Priya Vandrevala Foundation". India Today.
  31. ↑ "India Today Healthgiri Awards 2021 announced: Full list of winners". India Today. October 3, 2021.
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