Jaipur20 minutes ago
Property dispute of 15 thousand crores of Jaipur royal family has been resolved outside the court. This fight was going on between the grandson of Rajmata Gayatri Devi and her stepson Prithvi Raj Singh’s son Vijit Singh and other parties. According to the agreement, Gayatri Devi’s grandson Devraj Singh and granddaughter Lalitya Kumari will get full ownership of the Jaimahal Palace. In return, he would have to give up his father’s share in Rambagh Palace.
Vijit Singh, son of Prithvi Singh, son of Kishore Kanwar, second wife of Maharaja Sawai Man Singh II of Jaipur, will get Rambagh Palace and other related properties. Prithvi Singh was the stepson of Gayatri Devi. Kishore Kanwar’s second son Jai Singh also has a stake in this. Both sides have agreed to this. The Tata Group is running 5 star hotels at Rambagh Palace and Jai Mahal Palace. This property is being said to be more than 15 thousand crores.
Jai Singh, son of Sawai Man Singh II, the Maharaja of Jaipur and his second wife Kishore Kanwar, and Late. Prithvi Singh’s family has got Rambagh Palace. Vijit Singh Sr. He is the son of Prithvi Singh.
Jai Mahal Palace is the grandson of Sawai Man Singh, the Maharaja of Jaipur and his third wife Gayatri Devi, and Jagat Singh’s sons and daughters Devraj and Lalitya.
at Rambagh Palace Devraj and Lalitya Kumari to leave 4.74 % shares
Both the families had some shares in Rambagh Palace and Jai Mahal Palace and there was a dispute between the two over the ownership. Vijit Singh, Lalitya Kumari and Devraj are half-siblings. Jai Singh is the uncle of all three. In the former royal family, the Arbitrator of the Supreme Court and retired Supreme Court judge Justice Kurian Joseph have decided to divide the property in a mediation agreement.
As per mutual agreement, Devraj and Lalitya will not have any share in Rambagh Palace Pvt Ltd, a company owned by Rambagh Hotel. Jai Singh, late Prithviraj Singh and his son Vijit Singh will have no stake in Jaimahal Palace Pvt Ltd.
Devraj and Lalitya have to give up 4.74% of their father’s shares in Rambagh Palace. Rambagh Palace Private Limited Company comprises of Rambagh Palace Hotel, Ramgarh Lodge and Sawai Madhopur Shutting Lodge. Now there will be no part of Devraj and Elegance on it.
Jai Mahal Palace was built in 1745. It is spread over an area of 18 acres.
Both the parties will present the documents afresh in the Company Law Board
It is also the responsibility of the arbitrator to implement the agreement between the two parties related to the former royal family. Neither side will go to court now. After this out-of-court settlement, the Company Law Board will have to inform about the change in the shareholding pattern of Jaimahal and Rambagh. It is likely to take about two months for the agreement to come to the ground.
Jai Mahal Palace has been the home of 3 prime ministers of the princely state of Jaipur. Today this five star hotel has 94 rooms and 6 luxury suites.
Tata Group company is running both the hotels
Both Rambagh Palace Hotel and Jaimahal Palace are currently run by Tata Group’s company Indian Hotels Limited. After the issue of the certificate of new ownership and shareholding pattern from the Company Law Board, a fresh contract will also have to be done. Various formalities will have to be completed including convening a meeting of the shareholders of both the companies. There will be a fresh agreement with Tata regarding Rambagh and Jaimahal.
According to the website of the Taj Hotel, Rambagh Palace was once the home of the favorite maid of the Queen of Jaipur. Later it was made the Royal Guest House and then converted into a hotel.
Controversy was going on after the death of Gayatri Devi
Since the death of Gayatri Devi in 2009, there was a dispute going on in the former royal family. Devraj and Elegance had taken the matter to the Supreme Court first and then to the High Court, expressing the right to the property. Now the dispute is likely to end with both the parties reaching out-of-court settlement.
Rambagh Palace was built in the year 1835. There are 78 luxury rooms and suites here, which were once the chambers of the Maharaja of Jaipur.
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