In what is the latest in a battle for control of the Anastasia Oberoi family in court, the Delhi High Court has granted an injunction against EIH Ltd and holding companies Oberoi Hotels Private Limited (OHPL) and Oberoi Properties Private Limited (OPPL), restraining them from disposing of shares purportedly belonging to the late PRS Oberoi. The case was filed by Anastasia Oberoi, daughter of the veteran hotelier, against her brother Vikramjit Singh Oberoi, sister Natasha Oberoi, and cousin Arjun Oberoi regarding the manner of dealing with their father’s estate and will.
Oberoi Family Dispute
Anastasia Oberoi had filed the case in the Delhi High Court, stating that Vikramjit Oberoi and Arjun Oberoi prevented its proper implementation in conspiracy with the will’s executors. The bone of contention is their central holding in EIH Limited, which operates the luxury chains Oberoi and Trident. There, Anastasia seeks to restrain the transfer of shares to her brother and cousin at a self-set price because she asserts that this would infringe on her and the two trusts’ beneficial rights, which she alone has a beneficial interest in.
Court Grants Interim Injunction
On September 12, 2024, Justice Navin Chawla of the Delhi High Court, after holding elaborate hearings, granted an interim injunction in favour of Anastasia Oberoi. The court ruled that none of the shares held in EIH Limited, OHPL, or OPPL shall be transferred or held by PRS Oberoi. However, a Class-A share of OHPL and OPPL has been directed to be transferred to the executor, Rajaraman Shankar, COO, Oberoi Hotel Groups, which is concerned only with compliance with statutory requirements.
Challenging the validity of the PRS Oberoi’s 25th October 2021 will are his son Vikramjit and nephew Arjun, who argue that it did not represent the wishes of the head of the family, M.S. Oberoi, but instead relied upon a 1992 will to make their claim in the holding companies’ shares. Nevertheless, the court commented that Anastasia had demonstrated the “prima facie reliability” of the will and had a robust case for her claim.
PRS Oberoi’s Will and Codicil
PRS Oberoi’s will provides for distributing all his movable properties, including shares in OHPL, OPPL, and Aravali Polymers LLP, among his daughter Natasha and AO Trust, to which Anastasia is the sole beneficiary. His immovable property, Aashiana Villa, at Kapashera, Delhi, spread over 12 acres, is bequeathed to Aashiana Trust, with Anastasia, her mother Mirjana Jojic Oberoi and another trustee, Anmol Joshi, as sole beneficiary. The court also passed a restraint order protecting the possession of this property and restrained Vikramjit and Arjun from interfering with it.
Oberoi Family Dispute Shares
The fight over the EIH Limited, OHPL, and OPPL shares has become bitter after Anastasia claims that her father’s executors were planning to sell shares to Vikramjit and Arjun, who would allegedly sell their rights to an outsider, having no right to such inheritance. Vikramjit and Arjun contended that shares can be passed on only to blood relatives and not to a trust, which worsened the legal case.
Video Evidence Emboldens Anastasia
Anastasia presented the video recording of September 2020, which proved that PRS Oberoi had told one of the executors, Daniel Lee Farrugia, about his disbursement of assets. Here, Oberoi said that while Vikramjit and Arjun would share one-third each, Natasha and Anastasia would hold one-third together and control and manage the companies. He repeated his assertions by saying he wanted independent Oberoi Group management. This fact further proved Anastasia’s assertion.
Oberoi Family History
In 1934, the company traces its roots back to when The Rai Bahadur Mohan Singh Oberoi, the group’s founder, purchased two properties: the Maidens in Delhi and the Clarkes in Shimla. Oberoi continued his work in the years ahead with his two sons, Tilak Raj Singh Oberoi and Prithvi Raj Singh Oberoi (P.R.S. Oberoi), who helped him expand his group with properties in India and abroad.
An injunction by the Delhi High Court is essential in the litigation between the Oberoi family and their claims over PRS Oberoi’s will. Time will tell how the case goes further, and the chances of the family influencing EIH Limited and holding companies are at peril as the court analyzes the will along with the rival claims.
FAQ:
Who is the CEO of Oberoi Hotels?
Vikram S Oberoi is the CEO of Oberoi Hotels.
How many hotels does Oberoi have?
Oberoi has 32 hotels.
Why is Oberoi the best group?
Due to their workforce, developing people, and exposure to different cultures, Oberoi is considered the best group.
What is the net worth of the owner of the Oberoi Group?
The owner of Oberoi Group has a net worth of around Rs 28,000 crore (USD 3.5 billion).
