The legal dispute over late businessman Sunjay Kapur’s estate intensified after Rani Kapur accused Priya Kapur of bypassing court-monitored mediation to gain control of disputed family assets before the Supreme Court Bench of Justices JB Pardiwala and Ujjal Bhuyan.
The legal battle over the estate linked to late businessman Sunjay Kapur and the management of the Rani Kapur Family Trust intensified on Tuesday after Rani Kapur accused Priya Kapur of attempting to bypass an ongoing court-monitored mediation process and seize control of the disputed family assets.
The matter was mentioned before a Bench of Justice JB Pardiwala and Justice Ujjal Bhuyan of the Supreme Court of India.
The dispute centres around the control and administration of the Rani Kapur Family Trust and associated companies allegedly holding significant portions of the Kapur family estate. The controversy has been unfolding amid mediation proceedings initiated under the supervision of the Supreme Court in an effort to resolve disagreements among family members over management and ownership issues.
Appearing before the Court, counsel for Rani Kapur informed the Bench that Raghuvanshi Investment Private Limited (RIPL), which allegedly holds a substantial portion of the disputed estate, issued a notice on May 8 convening a meeting of its Board of Directors scheduled for May 18.
According to Rani Kapur, the move was orchestrated at the instance of Priya Kapur and was intended to undermine the ongoing mediation proceedings.
Counsel appearing for Rani Kapur argued that the respondents were using RIPL’s status as a Non-Banking Financial Company (NBFC) and an RBI inspection report as a pretext to justify the meeting. However, the real intention, according to the submissions, was to appoint new independent directors, designate fresh authorised signatories for RIPL’s bank accounts and assume control over the company’s investment decisions.
Rani Kapur’s side contended that these proposed actions would effectively enable the respondents to take over the estate and render the mediation process meaningless.
Opposing the allegations, counsel appearing for RIPL maintained before the Court that the proposed Board meeting was only a routine statutory meeting required under law and not an attempt to interfere with the mediation proceedings.
After hearing preliminary submissions from both sides, the Bench decided to take up Rani Kapur’s application for detailed consideration on Thursday, May 14.
In the application filed before the Supreme Court, Rani Kapur alleged that the decision to urgently convene the Board meeting amounted to a misuse of power intended to frustrate the ongoing judicial process.
She argued that permitting the meeting to proceed would irreversibly damage the subject matter of the dispute and undermine the protections sought through the litigation.
The application reads,
“The Respondents will successfully siphon off, liquidate, or secretly transfer the entire wealth of [RIPL] thereby reducing the protective concerns of [Rani Kapur],”
Rani Kapur has sought interim directions restraining Priya Kapur and other respondents from interfering with the functioning and administration of the Rani Kapur Family Trust until completion of the mediation process.
She has also requested the Court to declare that she alone is authorised to operate the Trust, RIPL and other entities allegedly holding parts of the family estate during the pendency of mediation proceedings.
Additionally, the plea seeks an order preventing the convening of any Board meetings of RIPL until the dispute is resolved or further directions are passed by the Supreme Court.
The matter is now expected to come up for further hearing before the apex court on May 14.
Background Of the Case:
The dispute concerns Sunjay Kapur’s estate, which is reportedly valued at close to Rs 30,000 crore, and an alleged Will that is said to have left his entire personal property to Priya Kapur. The Will has been contested by Kapur’s children, Samaira Kapur and Kiaan Raj Kapur, as well as by his mother Rani Kapur, who have questioned the document’s authenticity and legal validity.
Earlier, the matter was before the Delhi High Court. Justice Jyoti Singh had observed that the “legitimate suspicions” surrounding the alleged Will would need to be addressed before it could be accepted as Sunjay Kapur’s final testament. In an interim order, the High Court further noted that, since Priya Kapur was both the propounder of the Will and its main beneficiary, she would have to clear all doubts raised by the challengers during the trial.
On Thursday, during the hearing before the Supreme Court, senior advocate Shyam Divan, appearing for Rani Kapur, told the Bench that she wanted to remain in her matrimonial home in Delhi. He submitted that she is currently living in Mumbai with her daughter and clarified that the Delhi bungalow is owned under a company’s name.
The Supreme Court had previously urged the parties to consider mediation, noting its concern about a long-running inheritance battle involving an elderly litigant.
At an earlier stage, the Bench remarked,
“Why are you all fighting? This is not the age for your client to fight…go for mediation once and for all, from A to Z. Otherwise, this is a waste.”
The Court also observed,
“You are 80. This is not the age for your client to fight,”
The court highlighted that prolonged litigation would not serve much purpose and could only deepen differences within the family.
Earlier, the Supreme Court appointed former Chief Justice of India D.Y. Chandrachud as a mediator to help resolve a closely watched dispute involving the Sona Group family trust and the estate of late businessman Sunjay Kapur. The court passed the order after all sides agreed to try for an amicable resolution through mediation.
A Bench of Justice J.B. Pardiwala and Justice Ujjal Bhuyan directed that the case be taken up for mediation and ordered Rani Kapur, Sunjay Kapur’s mother; Priya Sachdev Kapur, his wife; and other stakeholders including the interests of his children from his earlier marriage with actor Karisma Kapoor to work toward a complete settlement under Justice Chandrachud’s supervision.
By directing mediation under the oversight of former CJI D.Y. Chandrachud, the Supreme Court moved to encourage a negotiated settlement in one of the most closely watched disputes over inheritance and a family trust.
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