In the ongoing inheritance conflict within the prominent Oberoi family, Anastasia Oberoi, daughter of the late hotel magnate PRS Oberoi, has been officially named as a director of Oberoi Hotels and Oberoi Properties. Her step-siblings, Vikramjit Singh Oberoi and Natasha Oberoi, along with their cousin Arjun Singh Oberoi, were also appointed directors. These board changes were confirmed at the annual general meeting (AGM) held on Tuesday, in line with the terms set by a Delhi High Court order issued earlier that day.
Justice Subramonium Prasad’s three-page order underscored that the assurance for Anastasia’s appointment as director had been reaffirmed by Arjun Singh Oberoi on behalf of both himself and Vikramjit Singh Oberoi. This confirmation of support, originally provided before the AGM, “continues today as well,” according to senior advocate Mukul Rohatgi, who represents Anastasia in the ongoing case.
As part of the court-directed order, Rajaraman Shankar, the Chief Operating Officer of the Oberoi Hotels group, was specifically tasked with attending the AGMs of Oberoi Hotels and Oberoi Properties to participate and cast votes on director reappointments. The directive, however, explicitly applied only to Tuesday’s meeting, with Justice Prasad clarifying that the order does not serve as a legal precedent. "This order is limited to the AGM of November 5 and does not set a precedent,” he added, noting that all parties’ claims are open for future examination.
Anastasia's petition emphasised her interpretation of Section 152(7) of the Companies Act, which she argued would necessitate the reappointment of directors unless a contrary decision was made. She cited a September 12 court order that, according to her, barred Shankar from attending the AGM for reappointments. In response, her step-siblings contested her argument, labeling it “premature” and “without merit.”
Anastasia also sought punitive measures against Shankar, alleging that he had disregarded the prior court instruction by planning to vote and participate in Tuesday's meeting. The Oberoi family’s legal feud primarily revolves around control over shares in EIH Ltd, the company behind Oberoi and Trident hotels. The High Court’s interim ruling in September had prohibited the transfer or sale of shares in EIH, Oberoi Hotels, and Oberoi Properties held by PRS Oberoi before his passing. This restriction was imposed after Anastasia filed a legal petition against her siblings regarding inheritance rights within the family business.
This recent development underscores the complexity of leadership transitions within large family-run businesses and the legal intricacies of inheritance disputes within India’s corporate sector.
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