Divorces and deaths represent not merely personal matters but also significant property disputes for the wealthy and famous. The division of joint property has become more complex with the addition of overseas assets, opulent homes and farmhouses. When former spouses, current partners, stepchildren and offsprings are involved, the situation becomes greatly exacerbated, transforming it into a spectacle as each side strives to assert their maximum dominance.
The same has been unfolding following the unexpected death of actress Karisma Kapoor’s ex-husband Sunjay Kapur, on 12th June. He was the chairman of auto components major Sona BLW Precision Forgings Limited also known as Sona Comstar.
The 53-year-old suffered a heart attack after ingesting a bee during a match at Windsor’s Guards Polo club in London. Along with the sorrow left in the wake of his passing, the family is now also dealing with the complications related to the inheritance of his 30,000 crore fortune.
They are currently embroiled in an inheritance battle that only grew uglier after the billionaire’s mother, Rani Kapur claimed to be the legitimate heir and accused some people of attempting to “usurp the family legacy.” The tragedy triggered various top-tier changes in the company leading to her outburst. She even described his death as “highly suspicious and unexplained.”
Mandhira Kapur shares cryptic post
Mandhira Kapur Smith who acknowledged her estrangement from her late brother posted a cryptic message on Instagram after Raksha Bandhan with an image posing alongside Sunjay and their mother.
“The thread that binds us, invisible yet strong, remains unbroken, as eternal as our memories. I relive the moments spent with you, and now, I find myself protecting what you would have wanted, and what dad dreamed, though it was always meant to be the other way around. If you were still here, everything would be different, everything would be better, my dear Bhaiya,” she wrote on social media.
Mandhira added, “You carried dad’s legacy with strength. I know you would’ve kept building upon it. Protecting your memory is my sacred duty. We are brave and I know you’ll continue to protect us.”
Mandhira also opened up about the distance between the siblings along with their photographs, a few months ago. “My brother and I may not have spoken for the last 4 years, a silly sibling squabble escalated to crazy levels due to egos and natural bullishness, however, that will never take back what we were and what we had,” she disclosed.
She further conveyed, “What happened towards the end has been both horrible and pointless. I will never have my moments with him again. We will never be us and it is devastating that we didn’t fix what had become broken and so now my heart is the same. I am sure he knew despite our recent estrangement that I loved him and in my soul I am sure he shared the same hope as I that one day we would be as amazing as we were for the first 47 years. Of this I am sure and take some small comfort.”
The Sona Group founder Dr Surinder Kapur died in 2015 after a brief illness in Munich. Afterward, his son Sunjay assumed control of the business.
Boardroom drama and Rani Kapur’s allegations
The authorities in the United Kingdom concluded that Sunjay’s death was caused by natural causes while his mother cried foul play. According to the coroner’s findings, it happened due to ischaemic heart disease and left ventricular hypertrophy. The report was shared by his third wife Priya Sachdev Kapur’s office.
The results coincided with Rani’s demand of a thorough investigation into the circumstances surrounding her son’s death and she even approached the authorities. “For my client, as a mother, it’s deeply painful to watch this being dismissed as a mere freak accident and cardiac arrest. The truth doesn’t match the headlines,” pointed out senior advocate Vaibhav Gaggar.
On 23rd June the board unanimously elected Jeffrey Mark Overly as chairman of the firm. In a letter dated 24th July, Rani accused that while the family was grieving, some individuals took advantage of the moment to capture power and hijack the family’s heritage.
The former chairman of the Sona Group even maintained that she was coerced into signing some paperwork while suffering mental turmoil soon after the death of her son and was subjected to financial restrictions.
She also asked for the company’s annual general meeting to be postponed which interestingly included a resolution designating Priya as a non-executive director. She had warned against appointing new directors but the latter’s appointment was accepted by the shareholders on 25th July with the requisite (99% votes) majority.
Rani asserted that she was the only beneficiary of her late husband estate, based on a 30th June 2015 will and hence held a controlling stake in the Sona Group which comprised of Sona Comstar. She additionally expressed worries regarding the company’s management of its legacy.
Sona Comstar, however, countered in a regulatory filing that according to the company’s records, Rani hasn’t had stock in the business since at least 2019. It stressed that she has not been involved with the company since then and it has served her with a legal notice for making what was characterised as “false” statements. Sunjay was identified as the only beneficial owner of the RK Family Trust.
Sunjay Kapur’s wives and children
Forbes estimates that Sunjay had a net worth of $1.2 billion (₹10,300 crore), reaching a peak of $1.6 billion (₹13,000 crore) in 2022 and 2024. He is the only beneficiary of the RK Family Trust, which owns the promoter stake in Sona Comstar through Aureus Investments Private Limited. Interestingly, Priya would inherit his wealth and estate management after his death.
Sunjay married three times. His first wife was fashion designer Nandita Mahtani and the couple had no kids. He then married actress Karisma Kapoor and they had two children. He gifted his daughter Samaira (20) and son Kiaan Raj (14), bonds totalling ₹14 crore which ensured an income of ₹10 lakh a month for each of them. A house that had belonged to Surinder Kapur was given to Karisma Kapoor.
The actor is not involved in the dispute and has no intention of pursuing any portion of the property, reported Times Entertainment. However, Samaira and Kiaan were termed as the “rightful heirs to their father’s estate.” A source unveiled, “Karisma Kapoor is not involved in any inheritance or property-related matters. She has no claim, nor is she seeking any share in the estate. Her only concern is the well-being and future of her children. They will receive what is due to them. Karisma’s focus remains entirely on them.”
The business magnate took model Priya Sachdev as his third spouse. The pair has a son named Azarias. He also adopted Safira Chatwal, Priya’s daughter from her previous marriage and she changed her surname to Kapur. Priya and Azarias are now in charge of the trust through Aureus Investment which owns a significant portion (28% or ₹8,000 crore) of Sona Comstar, based on a report in Mint.
The company’s current ownership dynamic
Given their holdings of RK Family Trust and Raghuvanshi Investment, Aureus Investment which is the only major shareholder in Sona Comstar notified the Union Ministry of Corporate Affairs (MCA) that Priya and her son are the company’s significant beneficial owners. 92% of Aureus is owned by the other two businesses together.
65% of Aureus Investment is controlled by RK Family Trust while 27% is held by Raghuvanshi Investment Private Limited. Furthermore, Aureus Investment possessed 39% of Raghuvanshi Investment while the trust maintained 48%. The major promoter entity of Sona Comstar, Aureus Investment belongs to the family members that control the trust under this firm ownership structure.
Priya, Azarias, Samaira and Kiaan are the major beneficial proprietors of the businesses and the RK Family Trust, according to Aureus Investment. This indicates that Rani Kapur is not the key trust’s beneficiary owner.
Vivek Vikram Singh, the MD and Group CEO of Sona Comstar, stated that the company had not been made aware of Sunjay Kapur’s successor as beneficiary owner of the RK Family Trust, after the company’s earnings release on 4th August. Afterward, Aureus Investment was notified of the same within two days of the remarks.
According to practicing company secretary Gaurav Pingle, declaration of changes in significant beneficial owners is required if an entity owns more than 10% of an Indian company. Singh also downplayed the family conflict and argued that the media exaggerated it.
