Oberoi family dispute: Delhi High Court halts transfer of shares amid legal battle over PRS Oberoi's will

The Delhi High Court has passed an injunction restraining EIH Limited and its holding companies – Oberoi Hotels Private Limited (OHPL), Oberoi Properties Private Limited (OPPL) – from transferring its shares. 

This order comes amid a legal dispute between Anastasia and her brother Vikramjit Oberoi, sister Natasha Oberoi, and cousin Arjun Oberoi, regarding the estate of PRS Oberoi and his will. 

The court passed the injunction while hearing veteran hotelier late PRS Oberoi’s daughter Anastasia Oberoi, who filed a suit in the High Court against her brother Vikramjit Oberoi, sister Natasha Oberoi, and cousin Arjun Oberoi.  

In her lawsuit, she alleged that Vikramjit and Arjun, in conspiracy with the executors appointed by their late father, were attempting to obstruct the execution of his will. 

The case revolves around the control of the family’s substantial holdings in EIH Limited, which manages the Oberoi and Trident hotel chains. 

On September 12, the bench of Justice Navin Chawla of Delhi High Court, after a detailed hearing, issued an interim order in favour of Anastasia Oberoi along with the other plaintiffs to protect the subject matter of the lawsuit. 

The court ordered an injunction in connection with the shares held by PRS Oberoi, and protected Anastasia’s and her mother’s continued possession of their family home. 

The validity of the will of late P R S Oberoi has been disputed by his son Vikramjit Singh Oberoi and nephew Arjun Oberoi, primarily on the ground that it does not reflect “the correct sentiments and wishes of late M S Oberoi (father of P R S Oberoi).” 

While passing the interim order, Justice Chawla said, there is sufficient material placed on record by the plaintiffs (Anastasia Oberoi and others) to demonstrate the prima facie reliability of the Will and the Codicil of the Testator propounded by them. 

The Delhi High Court, in its order, also stated that the interests of justice and the plaintiffs (Anastasia Oberoi and two others) can be safeguarded by restraining defendants Rajaraman Shankar, Daniel Lee Farrugia, Natasha Devi Oberoi (executors of the will of the late PRS Oberoi) and defendants EIH Limited, Oberoi Hotels Pvt Ltd and Oberoi Properties Pvt Ltd, from transferring or transmitting any shares held by the late PRS Oberoi in defendant companies. 

An exception was made for the transmission of one Class-A share in defendants Oberoi Hotels Pvt Ltd and Oberoi Properties Pvt Ltd to defendant Rajaraman Shankar (COO Oberoi Hotel Groups). 

However, the court clarified that while Rajaraman Shankar may exercise his voting rights only for the purpose of ensuring statutory compliance and filing statutory reports, he is restricted from exercising those rights on any other agenda items. 

P R S Oberoi bequeathed moveable properties, namely shares and interests in the three holding companies – OHPL, OPPL and Aravali Polymers LLP – with one half to his daughter Natasha and the other to AO Trust, whose sole beneficiary is Anastasia. 

The will bequeathed his immovable property Aashiana Villa at Bijawasan at Kapashera in Delhi – spread over nearly 12 acres – to Aashiana Trust, where Anastasia, too, is a sole benefactor and trustee along with her mother Mirjana Jojic Oberoi and another trustee Anmol Joshi, all of whom are plaintiffs in Anastasia’s suit. 

(With inputs from agencies)