Jogani vs Jogani’: How Dispute With Brothers Cost Tycoon ₹ 20,000 Crore

A 21-year legal battle among five brothers from India, renowned for their success in the diamond trade and Los Angeles real estate, has reached a turning point with a groundbreaking verdict. Haresh Jogani has been ordered by a jury to pay over $2.5 billion in damages to his brothers, Shashikant, Rajesh, Chetan, and Shailesh Jogani, and to divide their extensive Southern California property holdings, consisting of around 17,000 apartments.

The legal dispute, known as Jogani v. Jogani, stems from accusations that Haresh Jogani violated a longstanding partnership with his siblings. This complex case, often likened to Charles Dickens’ Bleak House, has endured 18 appeals, numerous attorneys, and the scrutiny of five judges in the Los Angeles Superior Court. While the trial’s main phase has ended, a punitive damages hearing scheduled for Monday may further shape the outcome.

What sets this case apart is its unusual scale, as most multibillion-dollar verdicts in the U.S. involve large corporations. The final distribution of the award hinges on the unpredictable real estate market, which has seen a decline in apartment prices since 2022.