INSUBCONTINENT EXCLUSIVE:
The court ordered an injunction in connection with the shares held by PRS Oberoi
Photo: Wikimedia Commons4 min read Last Updated : Sep 14 2024 | 2:17 PM IST
Veteran hotelier late PRS Oberoi's daughter Anastasia Oberoi,
has filed a suit in the Delhi High Court against her brother Vikramjit Oberoi, sister Natasha Oberoi, and cousin Arjun Oberoi.
In her
lawsuit, she alleged that Vikramjit and Arjun, in conspiracy with the executors appointed by their late father, were attempting to obstruct
the execution of his will.
On September 12, 2024, the bench of Justice Navin Chawla of Delhi High Court, after a detailed hearing, issued
ordered an injunction in connection with the shares held by PRS Oberoi, and protected Anastasia's and her mother's continued possession of
their family home.
While passing the interim order, Justice Chawla said, there is sufficient material placed on record by the plaintiffs
(Anastasia Oberoi and others) to demonstrate the prima facie reliability of the Will and the Codicil of the Testator propounded by
them.
Justice Chawla also stated that "I find that the plaintiffs have been able to make out a good prima facie case in their favour
The balance of convenience is also in favour of the plaintiffs and against the defendants
The plaintiffs are likely to suffer grave irreparable harm in case the subject matter of the lawsuit, that is the shares and properties, are
alienated during the pendency of the lawsuit and before the defendants file their response and the same is considered by this Court."
This
order comes amid a legal dispute between Anastasia and her brother Vikramjit Oberoi, sister Natasha Oberoi, and cousin Arjun Oberoi,
regarding the estate of PRS Oberoi and his will.
The case revolves around the control of the family's substantial holdings in EIH Limited,
which manages the Oberoi and Trident hotel chains.
The Delhi High Court, in its order, also stated that the interests of justice and the
plaintiffs (Anastasia Oberoi and two others) can be safeguarded by restraining defendants Rajaraman Shankar, Daniel Lee Farrugia, Natasha
Devi Oberoi (executors of the will of the late PRS Oberoi) and defendants EIH Limited, Oberoi Hotels Pvt
Ltd and Oberoi Properties Pvt
Ltd., from transferring or transmitting any shares held by the late PRS Oberoi in defendant companies.
An exception was made for the
transmission of one Class-A share in defendants Oberoi Hotels Pvt
and Oberoi Properties Pvt
to defendant Rajaraman Shankar (COO Oberoi Hotel Groups).
However, the court clarified that while Rajaraman Shankar may exercise his
voting rights only for the purpose of ensuring statutory compliance and filing statutory reports, he is restricted from exercising those
rights on any other agenda items.
Through the lawsuit, Plaintiffs sought direction to declare that Plaintiffs are entitled to own, hold,
enjoy and exercise all rights in 1600 A class shares and 62,075 B Class shares of Oberoi Hotels Pvt
and 100 A Class shares and 2,600 B Class shares of Oberoi Properties Pvt
and 46 percent capital contribution in Aravali Polymers LLP by virtue of the Will dated October 25 2021 read with Codicil dated August 27
2022 of the late PRS Oberoi.
The suit also sought direction to grant a decree of permanent injunction against Rajaraman Shankar, Daniel
Lee Farrugia, Natasha Devi Oberoi and Oberoi Hotels Pvt
Ltd and Oberoi Properties Pvt
Ltd., from registering any transfer or transmission of shares held by Late PRS Oberoi in Defendant Oberoi Hotels Pvt
Ltd and Oberoi Properties Pvt
Other than in favour of the legatees under the last will dated October 25 2021 read with Codicil dated August 27 2022 of Late PRS
Oberoi.
On the other hand, the counsel appearing for the Vikramjit Singh Oberoi and Arjun Singh Oberoi, contended that apart from the suit
not being maintainable, in terms of the settlement that had been arrived at between the Testator and his father-Rai Bahadur MS Oberoi, the
shares of Oberoi Hotels Pvt
Ltd and Oberoi Properties Pvt
Ltd were held by the Testator in trust for the defendants Vikramjit and Arjun and were to devolve upon the death of the Testator on the said
defendants.
Further, to give effect to such an oral understanding, the Testator also executed a Will dated 20.03.1992 in terms
thereof.
Anastasia Oberoi and other plaintiffs were represented by Senior Advocates Sandeep Sethi, Arvind Nigam, Arun Kathpalia and Jayant
Mehta instructed by Advocates Swapnil Gupta, Shivambika Sinha and Nimita Kaul, Partners of Capital Law Chambers LLP and Advocate Aadil Singh
Boparai and his chamber.
The defendants were represented by Senior Advocates Neeraj Kishan Kaul, Amit Sibal, Rajiv Nayar along with
Advocates Aseem Chaturvedi, Aakash Bajaj, Shivank Diddi, Shankh Sengupta, Ribi V.Garg, Shreyash Sharma, Preorna Banerjee, Sania Abbasi and
others.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is
auto-generated from a syndicated feed.)First Published: Sep 14 2024 | 2:17 PMIST
