HC allows Priya Kapur to submit husband Sunjay's asset details in a sealed cover

The Delhi High Court on Friday allowed Priya Sachdev Kapur, widow of Sona Comstar chief Sunjay Kapur, to submit the late industrialist’s asset details in a sealed cover, even as her bitter dispute over his ₹30,000-crore estate played out with his children from his former wife.

A bench, led by Justice Jyoti Singh, heard a fresh application filed by Priya Sachdev Kapur, seeking permission to file the list of his personal assets in a sealed cover with the parties to be bound by confidentiality, or setting up of a confidentiality club, which is a restricted group of people who can access confidential information.

“The list of assets can be submitted in a sealed cover to both parties in the matter,” Justice Singh said in an oral order. A detailed order is awaited. The judge took an undertaking from the parties that the confidential information concerning the case should not be leaked in the media.

At the heart of the matter is Sunjay Kapur’s ₹30,000 crore worth of assets disputed between his children, Samaira and Kiaan, and his widow Priya. Samaira and Kiaan have sought the court’s intervention in acquiring one-fifth of Kapur’s assets.

Mahesh Jethmalani, senior counsel representing Samaira and Kiaan, children of actor Karisma Kapoor, strongly objected to maintaining confidentiality, and described Kapur's will cited by Priya as “patently bogus”.

Jethmalani said that between August 22 and 26, when he was denied access to the will documents, significant transactions took place—with the defendant (Priya Kapur) transferring assets to herself, ‘wiping clean’ (emptying) two bank accounts listed in the will, and taking over the most valuable asset, a 6% stake in Kapur's holding company.

Rajiv Nayyar, senior counsel for Priya Kapur, argued for confidentiality and said there's a trial going on in the media. “Every day, there is something in the media. Court should order that people should not go to the media. I am inviting a gag order on myself as well.”

“We are being candid about the assets. What is there to hide? The court is wanting it. We are giving it. But we are only saying, don’t share it with the public at large,” Nayyar said.

After hearing both sides, the court posted the matter for further hearing on 11 November.

Akshat Khetan, founder of AU Corporate Advisory & Legal Services, said, “The court has struck the right balance; sensitive financial details need not enter the public domain. But heirs cannot be kept in the dark with regard to discussions about their inheritance rights and father’s assets."

He, however, added that by allowing sealed cover filings while rejecting Priya Kapur’s non-disclosure agreement demand, the court reinforced that Samaira and Kiaan have the unquestionable right to know what constitutes their late father’s estate and also discuss it without involving the media.

Sunjay Kapur, who headed auto components manufacturing firm Sona Comstar, was earlier married to Karisma. He later wed Priya, with whom he had a son. Kapur died in June in the UK while playing polo.