The Oberoi family, a name synonymous with luxury hotels and real estate, is now entangled in a bitter inheritance war following the passing of PRS Oberoi in November 2023. The family feud is drawing significant attention due to the large stakes involved, including shares in Oberoi Hotels, Oberoi Properties, and other substantial assets. The battle is primarily between PRS Oberoi’s daughter from his second marriage, Anastasia Oberoi, and her step-siblings, Vikramjit, Natasha, and cousin Arjun Oberoi.
PRS Oberoi’s Death Sparks Legal Dispute
The passing of PRS Oberoi, the patriarch of the renowned Oberoi hospitality empire, has ignited a fierce legal dispute. At the heart of the matter are claims over shares held by the late Oberoi in E Limited, Oberoi Hotels, and Oberoi Properties. The two opposing factions are Anastasia Oberoi, along with her mother, Mirjana Jojic Oberoi, pitted against Vikramjit, Natasha, and Arjun Oberoi.
Anastasia alleges that her step-siblings and cousin are conspiring to sell PRS Oberoi’s shares in the Oberoi businesses at a price they have determined, which, according to her, would violate the terms of the 2021 will. This legal battle has escalated to the Delhi High Court, where Anastasia is fighting to protect her inheritance rights.
The 2021 Will vs. the 1992 Will: A Battle of Legacies
Central to the dispute is the existence of conflicting wills. Anastasia claims her entitlement to significant portions of PRS Oberoi’s estate, citing the 2021 will, which allegedly grants her 1,600 A-class shares and over 62,000 B-class shares in Oberoi Hotels, 100 A-class shares and 2,600 B-class shares in Oberoi Properties, as well as a 46% stake in Aravali Polymers. In addition, she is also claiming a 12-acre villa in Delhi and several land parcels in Gurugram.
Anastasia has also petitioned for a 50% claim on any assets that may be uncovered in the future, while seeking Rs. 2 crore in damages from the executors of the estate. This demonstrates the vast scope of the assets and wealth in question, making the inheritance battle a high-stakes affair.
Step-Siblings Challenge Anastasia’s Claims
In response, Vikramjit and Arjun Oberoi are contesting Anastasia’s claims by pointing to a 1992 will. They argue that an agreement existed between PRS Oberoi and his father, Rai Bahadur M.S. Oberoi, where PRS Oberoi was to act as a trustee of his father’s shares, holding them in trust for Vikramjit and Arjun. As a result, they claim PRS Oberoi never had ownership over the shares in Oberoi Hotels or Oberoi Properties, asserting that the 2021 will should be rendered invalid.
This crucial argument hinges on the interpretation of ownership rights and fiduciary responsibilities outlined in the 1992 will. By challenging the authenticity and authority of the 2021 will, Vikramjit and Arjun hope to shift the balance of power in the inheritance dispute.
Court Ruling: Status Quo Ordered
In light of the ongoing battle, the Delhi High Court has intervened, issuing an interim order to maintain the status quo. The court has restrained the executors of PRS Oberoi’s will and the management of Oberoi Hotels and Oberoi Properties from transferring any shares held by the late patriarch. This legal move is intended to preserve the disputed assets until the court reaches a final decision.
Additionally, the court granted Anastasia and her mother possession of the 12-acre villa in Delhi, one of the most valuable properties involved in the case. This ruling provides Anastasia with a temporary victory, though the broader inheritance battle remains unresolved.
The Road Ahead: December Hearing Looms
The inheritance war is far from over, with the next hearing set for December 12. The stakes are exceptionally high, given the size of the Oberoi estate and the prominence of the Oberoi family in India’s luxury hospitality and real estate sectors. As both sides prepare to argue their cases, the outcome will have far-reaching implications not only for the Oberoi businesses but also for the broader family dynamics.
Anastasia’s claims, if validated by the court, could result in her gaining substantial control over the Oberoi businesses and properties, including shares and real estate assets that are critical to the family’s empire. On the other hand, if Vikramjit and Arjun succeed in proving the validity of the 1992 will, it could shift the balance of inheritance back in their favor, potentially leaving Anastasia with a smaller portion of the estate.
The Future of the Oberoi Legacy
As the Oberoi family continues its legal battle, the hospitality giant’s business expansion plans hang in the balance. The court’s decision will likely affect not only the ownership structure of Oberoi Hotels and Properties but also the future direction of the family empire. With significant assets at stake and deep familial divisions emerging, the outcome of this inheritance dispute could reshape the future of one of India’s most prestigious business dynasties.
The public will be watching closely as the Oberoi siblings clash in court, knowing that the resolution of this case could have lasting implications for both the family and the broader business community. Will the 2021 will stand, or will the 1992 agreement prevail? The answers will soon be revealed in what promises to be a landmark legal battle.
