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Informist, Thursday, May 14, 2026

 

NEW DELHI – The Supreme Court Thursday asked late businessman Sunjay Kapur's wife Priya Kapur to not do anything which will directly impact the mediation proceedings with his mother Rani Kapur, to resolve disputes over the ownership of the family trust, which holds a stake in Sona BLW Precision Forgings Ltd. The apex court said that Raghuvanshi Investment Pvt. Ltd., which also holds a substantial stake in Sona BLW, will not discuss agendas for appointing new independent directors and changing the authorised signers of the company's bank accounts. 

 

However, there was no halt on Raghuvanshi Investment's board meeting, said the court. In the meantime, direction for appointment of Raghuvanshi Investment's independent directors and statutory compliances need not be insisted upon by the Reserve Bank of India, said the court.

 

"Time and again we have said it will be in the interest of all parties to put an end to this dispute, else it will be a long drawn battle," said a bench of Justice J.B. Pardiwala and Justice K.V. Viswanathan. The bench asked the parties to settle the case, adding, "She (Rani Kapur) is an 80-year-old woman. We all came with empty hands and we have to go with empty hands. All we carry is our souls. There has to be a will to settle the matter. Don't go before the mediator with a heavy heart just because the court has pushed us. Each one of you try". The top court said it will examine the progress made in mediation by both the parties. It will now hear the case next on Aug. 6.

 

Rani Kapur had filed an application seeking to restrain Priya Kapur from interfering with the functioning of the RK Family Trust and Raghuvanshi Investment till the mediation proceedings between the parties are decided. Rani Kapur asked the court that she be solely authorised to operate the trust as per the terms of the RK Family Trust Deed.  

 

Further, Rani Kapur has sought that the court pass an order restraining convening of Raghuvanshi Investment's board meeting, which was to appoint new independent directors and change the authorised signers of the company's bank accounts. Rani Kapur had argued that the agenda items showed a clear plan by Priya Kapur to completely remove the petitioner from Raghuvanshi Investment, and the respondents taking absolute control over the money and investments of the company. The action by Priya Kapur is a calculated, mala fide act designed solely to usurp the estate of Sunjay Kapur, said Rani Kapur. 

 

On May 7, the Supreme Court had referred Priya Kapur and Rani Kapur to mediation to resolve disputes over the ownership of the family trust and appointed former chief justice of India D.Y. Chandrachud as the mediator. "This being a family affair, the endeavour on their part should be to get the disputes resolved at the earliest," said the court. 

 

At 1340 IST, shares of Sona BLW Precision Forgings Ltd. were down 1.1% at INR 585 on the National Stock Exchange.  End 

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Surya Tripathi

Edited by Vandana Hingorani

 

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