Vijaypat Singhania had moved Bombay HC against his son and Raymond chairman Gautam Singhania over a property dispute involving the Singhania family's JK House building in South Mumbai
Mumbai: The legal representatives of veteran industrialist Vijaypat Singhania and his son Raymonds Ltd chairman Gautam Singhania on Monday informed the Bombay high court that the two were likely to meet this week to try and resolve the property dispute between them amicably, as suggested by the court.
The Bombay high court had last month suggested to the father-son duo to hold meetings, along with their lawyers, to try and arrive at an amicable solution since the dispute was personal.
Vijaypat Singhania has moved the high court alleging that Gautam Singhania, who is the chairman and managing director of Raymond Ltd, is refusing to fully honour an arbitration award over a property dispute among the family members. Raymond is yet to give him the possession of a duplex flat in the multi-storied JK House building in South Mumbai as per the award, Vijaypat Singhania has alleged.
Senior counsels Dinyar Madon and Janak Dwarkadas, representing Vijaypat Singhania and Raymond respectively, told the bench of Justice G.S. Kulkarni that the lawyers and the parties (the father-son duo) were scheduled to meet this week. Following this, the judge posted the matter for further hearing on 11 September. The court said till then, its interim order, directing Raymond not to create third-party rights (sell or lease out) in the two floors of JK House, which are the subject matter of the dispute, shall continue to be in force.
As per a 2007 family agreement, Vijaypat Singhania, Gautam Singhania and the widow and two sons of Singhania’s brother Ajaypat Singhania, are to get a duplex apartment each in JK House, which is a family property. Vijaypat Singhania, in his petition, has alleged that Gautam Singhania is occupying a bigger area in JK House than he is entitled to. He has 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 approach the high court, Vijaypat Singhania has said, seeking a direction restraining Raymond from creating any rights in JK House, and the appointment of a court receiver to take possession of the duplex apartments.