Battle of the billionaire inherit

The sudden death of the Indian tycoon in June caused a rigid inheritance in the Indian car giant.

On June 12, Sunjay Kapur, 53, suffered a heart attack, playing polo in Surai in the UK. He was the heir to Sona Kamstar, a $ 3.6 billion business empire (2.7 billion pounds), which he inherited from his father. The company among the leading manufacturers of automotive components in India has a global trail with 10 plants distributed across India, China, Mexico and the United States.

Enthusiast Paul, Kapoor moved to the elite social circles of the Indian capital Delhi and reportedly shared his friendship with Prince William. He was married three times – first with the designer of Nanditzhni, then up to 90s the star Bollywood Karisim Kapur, before marrying his friends, a former model and an entrepreneur in 2017.

But a few weeks after his death, the issue of continuity made Kapura and his family the subject of speculation in the media.

In the center of it is Kapura Man Kapoor, former Sona Comstar chairman.

On July 24, Kapoor sent a letter to the Sona Comstar Council, raising questions about his son’s death and the campaign after that.

In a letter seen by the BBC, she claimed that Kapura’s death was “very suspicious and unexplained”.

Coroner’s office in Surri told the BBC that after posthumousness he determined that Kapur had died of natural reasons. “The investigation was closed,” the office said.

Rani Kapoor also claims to be forced to sign key documents while in mental and emotional suffering from the death of his son.

“It is a pity that when my family is still in mourning, some people have chosen it as a convenient time to snatch control and usurp family heritage,” she wrote.

She also asked the Sona Council to postpone the annual General Assembly (AGM) – which was set on July 25 – to decide on the new director who will become a family representative.

Rani Kapoor did not specify who she meant by “some people”, but Son Comstars the next day spent AGM and appointed his wife Sunji as the executive director.

In her letter, Kapoor claimed that she was the only beneficiary of her dead husband’s estate in a will left behind in 2015, which included most Sona Group shares, including Sona Comstar.

The company strongly denied the claims of R Kapora and said that in Sona Comstar it was “no role, direct and indirect, at least since 2019”.

The Council also stated that he had no coercion to postpone it to the notice and that the AGM had been “fully implemented by the law”. The company made a wounded legal message, asking to stop spreading “false, malicious and devastating” statements.

BBC contacted Son Kamres, Rani Kapoor and Sachdev with questions.

State shareholders, including banks, mutual funds and financial institutions, occupy 71.98% Sona Comstar, which is entered on Indian exchanges as Sona Blw.

The remaining 28.02% are conducted through a company called Aureus Investments PVT Ltd.

According to the company’s submission, Sunjay Kapur was the only Beneficiary RK Family Trust, which controls the share of promoters in Sona Comstar via Aureus Investments.

“At this point in looking at the company’s structure, Rani Kapoor does not show a registered shareholder, so there will be no right to vote. But there is a” family trial of RK “and investments in Aureis. We cannot know whether the wound will have any immediate interests until the agreement is public,” says Turas.

The hostility of the Kapora family is not a single affair.

According to PWC poll, about 90% of the listed companies in India are controlled in the family, but only 63% have an official continuity plan.

Cavil Ramchandran from the Indian School of Business says most Indian family companies work with “significant ambiguity against specifics”.

“One of them (the area) is the one who possesses how much and who inherit and when,” he adds.

Experts say family participation without meritocracy and lack of official agreements complicate the issues.

“There are disputes about the deaths of the patriarch (or even before), both in the ownership and in management, and too much water would be received under the bridge so that the problems were solved by the good,” said Kean Dalal, who advises several Indian businesses on the structures of ownership.

India Inc. Saturated with bitter combat overgrowths, which repeatedly grab the headlines.

Mukesh Ambani, the richest man Asia, once was involved in very very very Struggle With his younger brother over the broad empire after their father Dhirubhai Ambani died in 2002 leaving no will. It was their mother Kakilaben, which would bring peace through the years.

Recently, family hostility has erupted in Raymond Group, the most famous Indian textile company, and among the Ladh brothers whose company built a Trump tower in Mumbai.

All this often brought a great price for Indian shareholders.

“Everyone who held endless control in their hands.

But in some families it once bite, twice shy.

The Bajai family, one of the country’s largest conglomerates, has encountered an internal disruption over continuity until the court entered the 2000s to resolve the dispute.

The patriarch reflected a continuity plan for the group, dividing the duties between sons and cousins. According to the company’s statement, the group is now working through consensus through the family council.

Last year, one of the oldest business houses in India, the “Castles for Real Real Estate” group announced the uncharacteristic coverage of their multimillion -dollar business.

“Families should work on the planning of continuity with the control structures as a good board that has a teeth. They need to give some control to grow long. You also need to allow the next generation to take the advantage in time, and the patriarch should take time to raise them so that family problems do not happen,” Mr.

Looks like Mukesh Ambani seems to have taken this seriously Starting to look after three children Well in advance.

Mr. Ramchandran says continuity is not what can be solved “for the night”.

“Preparation of the family and the operating group for the planned transition period is crucial.”

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