The Bombay high court on Monday asked Dr Vijaypat Singhania, chairman emeritus of Raymond Ltd, to file reply to the suit filed by his grandchildren seeking claim on the ancestral property.
The Bombay high court on Monday asked Dr Vijaypat Singhania, chairman emeritus of Raymond Ltd, to file reply to the suit filed by his grandchildren seeking claim on the ancestral property.
When was the suit filed?
A suit was filed in February by Ananya, 29, Rasaalika, 26, Tarini, 20 and Raivathari, 18 challenging the agreement signed on December 30, 1998 between their parents — Madhupati and Anuradha — and Dr Singhania whereby the parents had given up their and the siblings' rights to the ancestral properties.
The grandchildren have made their parents, Dr Singhania and Raymond Limited as defendants in the suit filed through advocate Sharmila Deshmukh. They have appointed their maternal grandfather, Devkumar Aggarwal, as constituted attorney.
Justice Gautam Patel has asked Dr Singhania and his estranged son, Madhupati and daughter-in-law Anuradha to file reply to the suit. The HC has also asked the grandchildren to file rejoinder to the reply by April 20. On this day, HC will decide on whether to grant interim prayer of the grandchildren. They have sought that till the time the court decides on the issue, all the concerned parties be directed not to deal with the properties/shares mentioned in the agreement of 1998.
What had happened in 1998?
In 1998, Dr Singhania and Madhupati decided to part ways after discord over the difference in management styles of the son and father. As per the agreement, Madhupati moved out of Mumbai and settled in Singapore with his family. Madhumati and Anuradha signed an agreement giving up their share in family wealth. They also gave up the share of their minor children.
Challenging the agreement terming it as prima facie illegal, the grandchildren have claimed that they and their parents were treated with utmost discrimination and gross injustice and against the traditions of the Singhania family.
Was the agreement done under presuure?
Their suit has claimed that the agreement was nothing but a forcible relinquishment deed wherein their parents have been compelled to give up everything they owned other than a few assets, which they retained under such an arrangement.
Madhupati and Anuradha were allegedly forced to gift valuable properties in the form of shares of Raymond Limited and immovable properties then, which were grossly undervalued. They were also forced to give up each and every share holding in all the family businesses.
The siblings have also alleged that even ancestral jewelry was of considerable value; however, it was grossly undervalued in the agreement. The suit seeks that Dr Singhania be directed to furnish a list of ancestral jewellery so that its true value can be ascertained.
The siblings have claimed that their parents could not have relinquished their (siblings') share of the property on which they had birth right. As per the Hindu law, they are members of a Hindu joint family. Hence, they have a right to the ancestral property by birth.
Further, they have claimed that their grandfather, Dr Singhania, too does not have such a right to sell, or give away their rights in movable and immovable properties while they were minors.
The siblings have sought that the sale, transfer, or any other gift made during that time should be declared void by the high court.
They have also prayed that the court direct Dr Singhania and Raymond Limited to disclose the present status of all the assets on oath that were initially in their name and eventually gifted, or given away by their parents under the agreement.
They have justified filing the suit belatedly, stating that their parents informed them only recently about the agreement after the youngest sibling, Raivathari, turned 18.
Singhania family
* Dr Vijaypat Singhania has two sons — Madhupati and Gautamhari and a daughter Shephali. Madhupati married Anuradha and they have four children — Ananya, Rasaalika, Tarini and Revathari. Gautam got married to Nawaaz. They have two daughters — Niharika and Nisa.
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