Gayatri Devi’s assets: Supreme Court rules in favour of grandchildren

Devraj and Lalitya are children of late Maharaj Jagat Singh, Gayatri Devi’s biological son, who had bequeathed his shares in Jai Mahal Hotels Pvt Ltd, Ram Bagh Palace Hotels Pvt Ltd, Sawai Madhopur Lodge Pvt Ltd and SMS Investment Corporation Pvt Ltd in favour of his mother in 1996.

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Later, a Jaipur district judge issued succession certificates in favour of Gayatri Devi and Jagat Singh’s two children. After Gayatri Devi died in 2009, her grandchildren sought transfer of the shares in their names. Before the Company Law Board, the stepsons and stepdaughter, collectively called Urvashi Devi Group, disputed the transfer of the shares and claimed their rights too over the estate as her heirs.

While CLB decided not to go into the merits of the case, the Delhi High Court ruled in favour of her grandchildren.

The high court ordered rectification of share register of Jai Mahal Hotels Pvt Ltd in which Gayatri Devi held 99 per cent stakes. It allowed the plea of Devraj and Lalitya that these shares be registered in their names. Gayatri Devi’s stepsons and stepdaughter approached the top court, which also found favour with the high court’s ruling.