Rani Kapur moves Supreme Court over family trust-linked board meeting
Rani Kapur, mother of late Sona Comstar chairman Sunjay Kapur, has filed a fresh plea in the Supreme Court seeking immediate directions to stay the proposed board meeting of entities linked to the controversial family trust.
This comes just days after the Supreme Court appointed former chief justice of India DY Chandrachud to act as a mediator. ₹30,000 crore Kapur family is in dispute over the late president’s inheritance.
The issue was raised before a bench headed by Justice JB Pardiwala on Tuesday. During the hearing, Justice Pardiwala said, “We have entered an arena. Mahabharata will look very small. We will look inside.”
The court decided to hear the case on May 14.
New app reviewed by Mintasked the court to prevent Kapur’s widow, Priya Kapur, and other participants from changing the management structure, appointing new directors, changing bank signatories or making financial decisions that could affect the disputed property while the court-appointed mediation process is ongoing.
Rani Kapur claimed that the proposed board meeting of Raghuvanshi Investment Pvt. to be held on May 18 was held. Ltd., a major family investment enterprise affiliated with Rani Kapur Family Trust. (RIPL) aims to shift control over the finances and management of disputed family businesses and bypass the court-appointed mediation process.
“The defendants are unjustly trying to usurp the disputed family property and financial control of the Company/RIPL through a hastily convened and malicious board meeting,” the defense stated.
Rani Kapur’s latest plea was triggered by a May 8 notice calling for RIPL’s board meeting on May 18. He claimed that the notice was issued only 24 hours after the mediation decision. The application alleged that the proposed orders went far beyond routine compliance matters and were aimed at removing itself from effective control over trust-related entities before mediation proceedings could properly commence.
The claim alleged that if the meeting was allowed to proceed, the defendants could appoint new directors, change bank signatories and grant “unlimited” financial authority to individuals allegedly acting at the behest of Priya Kapur and her associates.
“If the defendants are allowed to appoint new directors, remove the bank signatories and subsequently grant unlimited financial powers, transfer and dispose of assets, this will create an irreversible situation that no future court order or mediation can easily undo,” the application said. The statement was included.
Rani Kapur alleged that holding the proposed board meeting was a “blatant abuse of power” aimed at defeating the purpose of ongoing judicial proceedings and court-monitored mediation. He claimed that if the meeting was allowed to go ahead, participants could “withdraw, liquidate or secretly transfer” the company’s wealth, potentially leading to irreversible changes to the disputed family estate.
Allegedly, the agenda items discussed include proposals to replace authorized signatories for company bank accounts at HDFC Bank, Kotak Mahindra Bank and State Bank of India, grant broad online transaction powers and authorize new persons to manage investments in mutual funds, PMS securities and alternative investment funds using company resources.
Rani Kapur also objected to proposals to appoint independent directors and reconstitute key committees, including the investment committee, audit committee, risk management committee and fraud monitoring committee. He claimed that these changes were aimed at completely excluding him from management and decision-making processes, despite his position as a supporter of the organization and its founder-manager.
The dispute is part of a larger succession battle that erupted following the death of industrialist Sunjay Kapur on June 12, 2025. Rani Kapur had challenged the validity of the RK Family Trust, alleging that it was set up fraudulently when she was medically vulnerable after suffering a stroke in 2017, and that her signatures on the documents were obtained without informed consent.
She claimed that shortly after her son’s death, she was forced to sign additional documents without being informed of their contents and was denied access to accounts and important company records.
RK Family Trust is at the center of the dispute because it controls major assets affiliated with Sona Group, including subsidiaries of Sona BLW Precision Forgings Ltd. (Sona Comstar). Rani Kapur alleged that although she was named as the settlor and trustee of the trust, the beneficiaries were structured to exclude her and favor Priya Kapur and her family branch.
