Family dispute erupts over shares of Mumbai’s InterContinental Hotel

Fault lines work between Ravi Ghai, son of Ik Ghai, the founder of Kwality Ice Creams, and Gaurav Ghai, son of Gaurav Ghai. The dispute includes the shares of Graviss Hospitality Ltd. LaThe 300 Crore market capitalization company is the owner of the Intercontinental Hotel in the city’s iconic Marine Drive Prmentsade.

As part of a family rectifier agreement signed in 2021, and an additional agreement signed in 2023, Ravi Ghai transferred all the shares of the entire group to his son. La105 Crore. Mint He saw a copy of these agreements.

Ravi Ghai has recently received payment when Graviss Group came out of a joint venture that made non -milk cream. It took it in total La235 Crore tax net between 2021-2024.

According to the Family Reconciliation Agreement, the 83 -year -old father would withstand 51% of the promoters in Graviss Hospitality Ltd listed and would remain as non -executive president. Would receive monthly payments La1.5 Crore per year as operating expenses from the company listed.

After his death, his shares in the company would be transferred to his son Gaurav Ghai, who had 49% of the supporters’ shares. In total, the supporters had 74.92% of Graviss hospitality as of June 30.

However, his son Gaurav claimed that Ravi Ghai refused to honor this agreement.

The reason for this is that Ravi Ghai’s former lawyers Vimadal & Co.Mint E -Post examined.

Gaurav did not invite his father to his son’s wedding in Dubai and caused humiliation. The lawyer claimed that monthly payments from the company to Senior Ghai have stopped since March this year.

In the letter, the father refers to these reasons and terminated the settlement agreements.

Later, in May, the two camps agreed to appoint the former Bombay Supreme Court Chief Adalet RD Dhanuka as a referee to solve the disputes, according to letters between the lawyers of the two camps. Mint examined.

However, the same Moon Ravi Ghai filed a police complaint against his son and family members, claiming that he had been preparing to sign the 2023 additional agreement without his open knowledge.

In June, Senior Ghai sent a e -mail to Dhanuka, claiming that Vimadalal had terminated family settlement agreements and appointed Justice Dhanuka as a referee without consent. Former Supreme Supreme Chief Justice has rejected himself since then.

When he was contacted with Sandip Vimadalal, the owner of the law firm, he refused to comment by stating that there was a privileged communication between a lawyer and clients.

Meanwhile, Gaurav Ghai said that after examining and conducting a preliminary investigation of family settlement agreements, Mumbai police could not find any guilt and rejected the complaint opened by his father without opening the first information report (FIR).

Gaurav Ghai said, “This is the last inheritance of my grandfather Ik Ghai. The last thing I want is to disappear. I fight to protect my family’s legacy.”

In a response sent by E -Post Mint“I rejected the existence and validity of any complementary family reconciliation agreement dated 25.08.2023,” Ravi Ghai categorically. ” He said. He claimed that his signatures in the agreement were fake. He also revealed to the notary and approval authorities who signed the contracts, saying that he never visited a notary authority.

Ravi Ghai also discussed that he took it La235 Crore as part of the two family agreements.

However, his senior Ghai admitted that his complaint was closed by Mumbai police. He said he was a victim of the closing and that he was now approaching the Supreme Court of Bombay with his complaints with the police.

Gaurav Ghai said the controversial company represents about 5% of the Graviss group’s revenues. The main job of the group is to produce ice creams and other food products. The group is the only manufacturer and distributor of Robins in India. It also operates the Kwality brand outside India in markets such as Middle East and England.

In 1995, Hindustan Unilever Ltd bought the Kwality brand from Ravi Ghai and his family.