The Bombay High Court has suggested that veteran industrialist Vijaypat Singhania and his son Gautam Singhania, chairperson and Managing Director of Raymond Ltd, try and resolve their property dispute amicably.
The Bombay High Court has suggested that veteran industrialist Vijaypat Singhania and his son Gautam Singhania, chairperson and Managing Director of Raymond Ltd, try and resolve their property dispute amicably. Vijaypat Singhania has moved the High Court alleging that his son is refusing to fully honour an arbitration award over a property dispute among the family members. Raymond Ltd has not yet given him possession of a duplex in the multi-storey JK House building in south Mumbai as per the award, Vijaypat Singhania’s petition said. “Such matters should not have reached the courts in the first place. These are disputes between a father and son. Try and resolve it amicably,” Justice G S Kulkarni said, hearing the petition earlier this week. The lawyers of all the parties to the dispute said they were open to the court’s suggestion.
As per a 2007 family agreement, Vijaypat Singhania, his son Gautam, and the widow and two sons of Vijaypat’s brother Ajaypat Singhania were to get a duplex each in JK House, a family property. The court, while adjourning the hearing to August 22, said Raymond shall not create any third party rights (sell or lease out) in the two floors of JK House which re subject matter of dispute until further orders.
Vijaypat Singhania also alleged in his petition that Gautam was occupying greater area in the JK House than he was entitled to. He also said that Raymond failed to respond to his offers of payment to get possession of the duplex. Thus, he was left with no choice but to approach the HC, Singhania senior said, seeking the court’s direction restraining Raymond from creating any rights in JK House, and appointment of a court receiver to take possession of the duplex apartments.