The controversy over the property worth several thousand crores of famous late industrialist Sanjay Kapoor does not seem to be stopping. Day by day the legal complexity regarding rights on property is increasing. Now Delhi High Court has issued notice on the petition filed by Rani Kapoor, mother of late industrialist Sanjay Kapoor, demanding abolition of RK Family Trust. However, the court has not ordered any interim status at present.
rani kapoor has filed a case against 22 people, including his daughter-in-law Priya Kapoor and the children of actress Karisma Kapoor, alleging that the trust was fraudulently created to illegally transfer his property without his consent.
While hearing the petition, Justice Mini Pushkarna also issued notice to Priya Kapoor and 22 other defendants, which include 7 grandchildren of Rani Kapoor and two children of Bollywood actor Karisma Kapoor.
However, the court said that it is not passing any order on the interim relief application today. In the interim relief application, a demand was made to maintain the status on the trust. The court said that the interim relief petition will be heard on March 23.
Actually, Rani Kapoor Family Trust has a stake in automotive component manufacturing company Sona Comstar. Although the exact valuation of the trust is not known, but it is estimated to be worth several thousand crores of rupees. The dispute over control over Sanjay Kapoor's property is already pending in Delhi High Court.
In the petition, 80-year-old Rani Kapoor said that the trust was created fraudulently and it was used to usurp her entire property, including her control over Sona Group companies. He alleged that Sanjay Kapoor's widow Priya Kapoor is the chief mastermind of this conspiracy.
Rani Ko also accused Priya Kapoor that after Sanjay Kapoor's death, she was quick to take control of certain companies of Sona Group without informing her.
According to the petition, after Rani Kapoor suffered a stroke in 2017, her deceased son Sanjay Kapoor and his third wife, Priya Kapoor, took advantage of her physical dependence and trust and hatched a scheme to transfer her entire property to the RK Family Trust without her consent and, under the pretext of administrative convenience, made her repeatedly sign various documents, including blank sheets.
During the hearing, senior advocate Vaibhav Gaggar appeared on behalf of Rani Kapoor and told the court about the background of the case and the developments after Sanjay Kapoor's death in June last year.
She said that soon after Sanjay Kapoor's death, Priya Kapoor tried to gain control of his estate, and she became the beneficiary of about 60% of the family's assets, while 40% went to the children, leaving them with nothing.
Gaggar said, therefore, it has to be accepted that within 6 months of the marriage, he created a trust, sold everything and said in his will that if you (Sanjay Kapoor) die, the family will have nothing, but they will get everything.
Meanwhile, senior advocate Akhil Sibal appeared for Priya Kapoor and said that the case is not maintainable and they will file an application to dismiss it. Sibal said that a trustee is challenging the trust. This cannot be done.
On the application for interim relief, the court said it will consider the replies of the defendants and then pass appropriate orders. Rani Kapoor's lawyer Vaibhav Gaggar also insisted on bringing out all the documents related to the trust.
Justice Pushkarna said that nothing can be hidden from the court. Justice Pushkarna told Sibal that you (Priya Kapoor) will have to tell all the information including the minutes of the meeting and your accounts. You should not hide any details from the court.
Sibal said that he will present documents to show the genuineness of the trust and if the court feels that any more documents need to be presented, he will do so. No application should be approved on the first date.
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