Karisma Kapoor's son will be successor of Sunjay Kapur's Rs 10000 crore empire after his death? Here's what Indian law says

Businessman Sunjay Kapur's funeral was held on Thursday, June 19, and after his final rites, one question is now dangling- Who will be the successor of Sunjay's business empire? The 57-year-old chairman of Sona Comstar passed away due to fatal anaphylactic shock, triggered after he accidentally swallowed a bee while playing polo in London. After Sunjay's untimely demise, there are speculations about the future of his fortune, which is estimated Rs 10,300 crore ($1.2 billion). Sunjay took his father's vision to a global level and turned a global success. Reportedly, when Sunjay died, Sona Comstar had a market capitalisation of approximately Rs 31,000 crore ($4 billion). Sona Comstar expanded its operations in India, China, Mexico, Serbia, and the United States, which made the company a global supplier to electric vehicle manufacturers.

Sunjay Kapur's company's first statement after his demise

After Sunjay's demise, Sona Comstar issued a public statement assuring stakeholders of continuity in business, despite the tragedy and even paid homage to Kapur’s legacy. However, there has been no official announcement about the empire's successor. Sona Comstar's fate is in doldrums.

The complicated family tree of Sunjay Kapur

Sunjay got married thrice, and he is survived by three children- daughter Samaira (20) and son Kiaan (14) from Karisma Kapoor (his second wife). After divorcing Karisma, he married Priya Sachdev, and they became parents to son Azariyas (6). Kapur is also a stepfather to Priya’s daughter from a previous marriage with Vikram Chatwal.

What does Indian law say about a successor? 

According to the Hindu Succession Act of 1956, children are entitled to a share of their father’s property, regardless of the parents’ marital status. However, a property will can change the inheritance rules. Reportedly, the family's close sources stated that no public confirmation has been made about the 'will'. 

What if Sunjay's will exist? 

Reportedly, if a 'will' exists, the property could be divided into allocations, which also creates the possibility of excluding some heirs. But if there is no 'will', the estate would mostly be distributed among his legal heirs, including his biological children and current spouse, Priya Sachdev.

The alimony Karisma got after divorcing Sunjay

Sunjay and Karisma Kapoor ended their marriage in 2016, after a long, ugly legal battle. As per the reports, the divorce settlement details were revealed. Sunjay set aside bonds worth Rs 14 crore each for Samaira and Kian, along with a monthly income of Rs 10 lakh. Karisma also got Sunjay's father’s Mumbai home under the Supreme Court-monitored alimony agreement, with full custody of both children.

Still, these arrangements pertain only to child support and post-divorce alimony. Whether Samaira and Kian will receive a larger portion of Kapur’s corporate and personal wealth remains uncertain and could depend on the existence and contents of a valid 'will'.

Also read: Viral video: Karisma Kapoor looks devastated, her son breaks down at Sunjay Kapur's funeral, Saif Ali Khan, Kareena Kapoor also attend final rites