Delhi HC seeks list of bizman Sunjay Kapur’s assets; widow Priya says Rs 1,900 crore transferred to Karisma Kapoor’s kids

Challenging the maintainability of the suit, Priya, represented by senior advocate Rajiv Nayar, told Justice Jyoti Singh that “For all this crying and weeping that is going on, plaintiffs received Rs 1,900 crores from the trust.” Priya was referring to the Rani Kapur Trust, which is the Kapur family’s trust.

“…the deceased’s mother (Rani Kapur) also created a trust…about 5 days before (this) suit (by Karisma’s children), under that aspect, Rs 1900 cr worth of asset has been transmitted to the two children (Samaira and Kiaan)..they’re the beneficiaries of Rs 1900 cr…I’m (Priya) the last wife of deceased…,” Nayar argued.

“The plaintiff (their mother Karisma) ought to have told that there were litigations after litigations culminating in acrimonious divorce proceedings before SC…the man, who she now laments…A person has got Rs 1900 crores of asset and it was conveyed five days prior to filing of this suit and after that your tone changes and you say you got nothing from the assets?!…You’re nowhere to be seen since the past 15 years,” Nayar further stated.

In their suit, the children have accused Priya of allegedly “conniving” with the executor and other associates “to usurp the rightful shares of the plaintiffs in the estate of their late father”. They have also sought an injunction on the transfer, disposal, or creation of any third-party rights with regard to Sunjay’s estate, and are seeking a 1/5th share each of all movable and immovable properties.

Meanwhile, Rani’s lawyer, senior advocate Vaibhav Gaggar, told the court, “Today I have nothing. I have seven grandchildren, I am the person who has to make sure everyone gets it (share of the assets)..(but) everyone is excluded. Everything has gone to (Priya, and Priya and Sunjay’s son), and plaintiffs (Samaira and Kiaan)….Today, my son leaves me on the road…I’m the purported settlor of the trust. I’ve a grievance qua this will as well.”

Sunjay died of a heart attack at the age of 53 while playing polo in London in June, leaving his company in a churn. A month later, Rani objected to being thrown out of the company and to Priya’s appointment as non-executive director. She accused Priya of “coercion” and questioned appointments made by the company after Sunjay’s death.

In August, hours before an annual general meeting of the company, Rani wrote to the board of directors of the family-owned auto components firm Sona Comstar—a part of Indian conglomerate Sona Group—claiming she had been “forced to sign documents behind locked doors” and “left to the mercy of a select few for survival”.

Urging the court to order a status quo on the assets, Gaggar further added, “…there are assets of main company Sona Comstar which have been sold, shares worth Rs 500 crores, to a Singapore entity, we don’t know who sold them.”

Sona Comstar’s market cap is close to Rs 30,000 crore, and 72 per cent of its shares are held by the public, and 28 per cent (Rs 8,200 crore) of its shares are held by its corporate promoter, Aureus Investments Private Limited.