Jaipur:
National Company
Law Appellate Tribunal (NCLAT) , New Delhi has set aside the order of the National Company Law Tribunal (NCLT) order giving majority stake in the iconic Jai Mahal Palace Hotel on Ajmer Raod to Gayatri Devi’s grandchildren
Rajkumar Dev Raj
and
Rajkumari Lalitya
on August 1, 2018.
The order followed
Jai Mahal Hotels
Pvt Ltd appealed against the National Company Law Tribunal order.
“Maharani Gayatri Devi on the death of
Maharaj Jagat Singh
on February 5, 1997 became his sole legatee by ‘Will’ on June 23, 1996. Therefore, Rajkumar Dev Raj and Rajkumari Lalitya cannot claim inheritance on original 5050 shares to be legal heirs of Late Maharaj Jagat Singh on his death on February 5, 1997,” said the appellate order.
It added, “Once the claim of Rajkumar Dev Raj and Rajkumari Lalitya on the total original 5050 shares of Late Maharaj Jagat Singh are determined by high court and Supreme Court based on ‘Will’ in favour of Maharani Gayatri Devi and giving legatee herself bequeathed her rights in favour of Rajkumar Dev Raj and Rajkumari Lalitya, they cannot claim their right on such shares by way of inheritance on the death of Maharaj Jagat Singh.”
The Tribunal failed to consider the above said aspects and wrongly held that Rajkumar Devraj and Rajkumari Lalitya inherited the shares of Late Maharaj Jagat Singh on his death. Earlier, tribunal has "restored the position ante immediately upon the death of late Maharaja Jagat Singh" in terms of strength and directors of the board of Jai Mahal Hotel Ltd.
National Company Law Tribunal in its order had said that Maharani Gayatri Devi grandchildren’s majority shareholding in the hotel have been converted in to a minority by the overt and covert acts of Jai Mahal Hotel management including Gayatri Devi’s step son Maharaja Prithvi Raj and his son Vijit Singh.
Stay updated with the latest news on Times of India. Don't miss daily games like Crossword, Sudoku, and Mini Crossword.
Start a Conversation
Post comment