Rani Kapur, mother of the late Sona Comstar chairman Sunjay Kapur, has moved a fresh plea before the Supreme Court seeking urgent directions to stop a proposed board meeting of entities linked to the disputed family trust.
This comes days after the Supreme Court appointed former chief justice of India D.Y. Chandrachud to mediate the ₹30,000 crore Kapur family dispute over the estate of the late chairman.
The matter was mentioned before a bench led by Justice J.B. Pardiwala on Tuesday. During the hearing, Justice Pardiwala said, “We have entered into an arena. The Mahabharata will look very small. We will look into it.”
The court has listed the matter for hearing on 14 May.
The new application, reviewed by Mint, asked the court to restrain Kapur’s widow, Priya Kapur, and other respondents from changing the management structure, appointing new directors, altering bank signatories, or taking financial decisions that could impact the disputed estate while the court-appointed mediation process is ongoing.
Rani Kapur alleged that the proposed 18 May board meeting of Raghuvanshi Investment Pvt. Ltd. (RIPL), a key family investment entity linked to the Rani Kapur Family Trust, is aimed at changing control over the finances and management of the disputed family businesses and bypassing the court-appointed mediation process.
“Respondents are wrongfully attempting to usurp the disputed family estate and the financial control of the Company/RIPL through a hastily convened and mala fide board meeting,” the plea stated.
Rani Kapur’s latest plea was triggered by a notice dated 8 May calling the 18 May board meeting of RIPL. She claimed the notice was issued barely 24 hours after the mediation order. The application alleged that the proposed resolutions go far beyond routine compliance matters and are aimed at removing her from effective control over the trust-linked entities before mediation proceedings can begin properly.
The plea alleged that if the meeting is allowed to proceed, the respondents could appoint new directors, change bank signatories and grant “unlimited” financial powers to individuals allegedly acting at the behest of Priya Kapur and her associates.
“If the respondents are allowed to appoint new directors, remove bank signatories, and grant unlimited financial powers behind her back, transfer and alienate assets, it would create an irreversible situation that no future court order or mediation could easily undo,” the application stated.
Rani Kapur has alleged that holding the proposed board meeting is a “blatant abuse of power” intended to defeat the purpose of the ongoing judicial proceedings and court-monitored mediation. She claimed that if the meeting is allowed to proceed, the respondents could “siphon off, liquidate, or secretly transfer” the wealth of the company, potentially causing irreversible changes to the disputed family estate.
As per the plea, the agenda items challenged include proposals to change authorised signatories for company bank accounts across HDFC Bank, Kotak Mahindra Bank and State Bank of India, grant broad online transaction powers, and authorise new individuals to manage investments in mutual funds, PMS securities and alternative investment funds using company resources.
Rani Kapur has also objected to proposals to appoint independent directors and to reconstitute key committees, including the investment committee, audit committee, risk management committee, and fraud-monitoring committee. She alleged these changes are intended to exclude her entirely from governance and decision-making despite her position as promoter and founder-director of the entity.
The dispute is part of a larger succession battle that erupted after the death of industrialist Sunjay Kapur on 12 June 2025. Rani Kapur has already challenged the validity of the RK Family Trust, alleging that it was fraudulently created in 2017 when she was medically vulnerable after suffering a stroke and that her signatures were obtained on documents without informed consent.
She alleged 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 key company records.
The RK Family Trust is central to the dispute because it controls major holdings linked to the Sona Group, including entities connected to Sona BLW Precision Forgings Ltd. (Sona Comstar). Rani Kapur alleged that although she was shown as settlor and trustee of the trust, the beneficiaries were structured in a manner that excluded her and favoured Priya Kapur and her branch of the family.
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