RK family trust row: Delhi HC issues notice on fresh applications by Priya Kapur

New Delhi [India], February 11 (ANI): The Delhi High Court on Wednesday issued notice on applications filed by Priya Kapur, wife of late industrialist Sunjay Kapur, seeking dismissal of a suit filed by her mother-in-law Rani Kapur, in which allegations were made that she and others had orchestrated a "fraudulent family trust" to unlawfully deprive Rani Kapur of her estate.
Justice Mini Pushkarna asked Rani Kapur to file her response within four weeks and permitted Priya Kapur to file a rejoinder, if any, within two weeks thereafter.
The Court also issued notice to Rani Kapur on another application moved by Priya Kapur alleging that her mother-in-law had committed perjury.
During the hearing, Senior Advocate Akhil Sibal, appearing for Priya Kapur, submitted that several allegations made in Rani Kapur's suit were "utterly false".
Senior Advocate Maninder Singh, who also represents Priya Kapur, argued that perjury is a serious offence and constitutes fraud upon the court, alleging that Rani Kapur made false statements under oath.
The applications were opposed by Rani Kapur's counsel, Advocate Smriti Churiwal, who questioned their maintainability.
The fresh applications were heard in the backdrop of an ongoing family dispute over the RK Family Trust. On the last date of hearing, the High Court had suggested mediation as a possible way to resolve the conflict while hearing multiple pleas in the suit filed by Rani Kapur seeking dissolution of the trust.
Justice Mini Pushkarna had encouraged the parties to settle the matter amicably, observing that family relations should be respected and disputes over inherited wealth should not turn into a source of bitterness.
In the main suit, Rani Kapur has challenged the RK Family Trust Deed dated October 26, 2017, seeking cancellation of the trust and restoration of assets allegedly transferred to it. She has claimed that the trust was created without her informed consent and that she was excluded from assets that originally belonged to her.
According to her, the transactions took place when she was unwell after suffering a stroke and dependent on her son for managing her affairs, and that she was made to sign documents without understanding their legal implications.
Senior Advocate Vaibhav Gaggar, appearing for Rani Kapur, had earlier sought preservation of the estate, expressing concern that assets could be siphoned off. He alleged that Priya Kapur acted in haste and in a fraudulent manner in dealing with the estate. The plea was supported by some of the defendants, including Rani Kapur's daughter and the children of actor Karisma Kapoor.
These allegations were strongly denied by Priya Kapur. Senior Advocate Akhil Sibal had submitted that when Sunjay Kapur took charge of the company, it was incurring losses, and that through his efforts, the business was revived and eventually reached a stage where it could launch its IPO in 2021. He also questioned the maintainability of the suit, stating that a trustee cannot challenge a trust in law, and said that videographic evidence relating to the execution and notarisation of documents would be placed on record.
Earlier, the Court had issued summons to Priya Kapur and 22 other defendants in the civil suit, which concerns a trust said to be valued at several thousand crore rupees.
The Court had also observed that all relevant documents, including trust deeds, minutes of meetings and financial records, would have to be placed before it and that no material facts could be suppressed.
Rani Kapur has further alleged that she was the sole settlor, trustee and beneficiary of earlier family trusts and that the RK Family Trust was created without her knowledge or informed consent. She has claimed that the signatures attributed to her on the trust documents were not hers and that she was left with no share in the estate after her son's death in June last year, with a substantial portion of the assets going to Priya Kapur and the remainder to the children. The High Court has now fixed March 23 for further hearing on the matter. (ANI)