The Supreme Court on Thursday (May 14, 2026) barred a key company associated with the disputed family estate of the late industrialist Sunjay Kapur from proceeding with the appointment of independent directors, while renewing its appeal to the feuding parties to resolve the bitter inheritance dispute through mediation.
A Bench of Justices J.B. Pardiwala and Ujjal Bhuyan observed that octogenarian Rani Kapur, mother of the late industrialist, must have been “shaken” by the continuing family feud, and urged the parties to amicably settle the dispute to avoid a “long-drawn battle”.
“…There is this 80-year-old woman. Sometimes you have to compromise at some point in time…We all come empty-handed and will go empty-handed. We only carry our souls in the end. Approach the mediator not with a heavy heart. There has to be a will to settle the matter”, the Bench remarked.
The top court made the observations while hearing an interim application moved by Ms. Kapur alleging an attempted “forced takeover” of the disputed family assets. She contended that her daughter-in-law was attempting to assume control over key companies and assets linked to the estate despite the Supreme Court’s May 7 order appointing former Chief Justice of India D. Y. Chandrachud as mediator to facilitate a negotiated settlement.
The plea objected to a proposed May 18 board meeting of Raghuvanshi Investment Private Limited (RIPL), which holds a controlling stake in the family holdings, where the appointment of two independent directors and changes to authorised banking signatories were slated for consideration.
Senior advocate Navin Pahwa, appearing for Ms. Kapur, argued that the proposed appointments were intended to divest his client of control, pointing out that RIPL held a significant shareholding in the parent company. He urged the court to maintain status quo while mediation proceedings were underway.
“My shareholding is put in the trust behind my back. I was holding the majority shares of all companies. My daughter-in-law transferred my shareholding into a trust,” he said.
However, senior advocate Kapil Sibal, appearing for RIPIL, defended the proposed resolutions and contended that the company, as a non-banking financial company, was complying with directions issued by the Reserve Bank of India (RBI) following an inspection carried out in February.
“RIPL is an investment company. She is a director and nobody is changing that,” Mr. Sibal said.
‘No disruption to mediation’
The Bench, however, declined to permit the appointment of independent directors and observed that compliance with the RBI directions could await the outcome of the mediation proceedings.
“In the meantime, the directives of the RBI and statutory compliances will not be pressed by the RBI or any other statutory authority,” the Bench directed.
In its order, the court took note of Ms. Rani Kapur’s apprehensions that the proposed board meeting and appointments could aggravate the family dispute and adversely impact the ongoing mediation process.
“We do not propose to say anything further at this point in time. We have already requested the learned mediator to commence mediation. For the present, we request the parties not to do anything which will directly affect mediation proceedings,” the Bench recorded in its order.
The judges also cautioned that if the rival parties were unwilling to meaningfully engage in mediation, they would proceed to hear the matter on merits and render a decision.
“We told you that if you are not interested in mediation, we will not proceed further in that direction. We will hear this case and decide it,” the Bench observed.
Accordingly, the Bench said it would examine the matter again after receiving a report from the mediator.
Sunjay Kapur, chairperson of automotive component manufacturer Sona Comstar, died of a cardiac arrest while playing polo in London last year. The Rani Kapur Family Trust was constituted through a trust deed executed on October 26, 2017, and presently holds shares in Sona Comstar.
The proceedings before the apex court arise from a petition filed by octogenarian Ms. Rani Kapur seeking protection of the family estate. In her plea, Ms. Kapur has questioned the creation and functioning of the family trust, alleging that the structure effectively divested her of control over substantial assets without her informed consent.
According to the petition, the dispute dates back to 2017, when Ms. Kapur suffered a stroke. She has alleged that, following her medical condition, her late son and others orchestrated the transfer of key family assets into the trust without her complete knowledge or approval. The plea further claims that she was asked to sign documents under the guise of routine administrative formalities.
Published – May 14, 2026 03:34 pm IST
