Graviss Group Founder Files FIR Against Son Over Alleged Forgery, Disputed Share Transfer

A major crisis has gripped the Ghai business family with the father Ravi Ghai complaining to the Mumbai police against his son Gaurav Ghai and others, accusing them of forgery, among other charges. However, Gaurav Ghai has strongly refuted these allegations. S Balakrishnan presents both sides of the story

‘My sign misused for supplementary family settlement’

“I have four children. My wife is Gita Ghai, and my children’s names are Gaurav Ghai, Gaurika Ghai, Ravina Ghai, and Gayatri Ghai. Gita currently lives with my son.

“I own a business under the name Graviss Group, which includes Graviss Hospitality Pvt Ltd and Graviss Food Solutions Pvt Ltd. I was the 100% owner of these companies. I restructured my business in 2001, and I am the founder of this business.

“I had filed a complaint against Gaurav Ghai and others at the Marine Drive police station on May 20 this year. In reference to that application, I recorded my statement in the presence of the police.

“In 2020, on the occasion of Gaurav’s 50th birthday, I willingly transferred 49% of the total share capital of my Graviss Group to him through a gift deed. After that, my son started working as vice chairman in my business. “For the past seven years, I have been suffering from cancer, and in 2020 I was very distressed by my illness. After that, I frequently travelled abroad for my treatment. During that period, Gaurav was looking after all my business. I was satisfied that my son was handling the business.

“Whenever I returned to India after receiving treatment, Gaurav and his wife Sumita would come to me and ask for my signatures on various documents, stating that they were necessary for the business. Since I was distressed due to my illness and had no reason to suspect my son, I would sign the documents brought by my son and daughter-in-law without thoroughly examining them. During this period, Gaurav used to give me Rs12.5 lakh per month for my expenses.

“I did not suspect my son or his wife, nor did I have the physical or mental condition to suspect what was happening. After that, in January 2025, I did not get any money from Gaurav. When I asked, he said, ‘Wait a bit, the money will come’. Till April I did not receive any money. My chief financial officer Farangilal Baburam Goyal told me that he has come to know that Gaurav has made himself the self-proclaimed chairman of the company and has taken full control of my company.

“I came to know that my son Gaurav has made a supplementary family settlement agreement regarding my property without my permission on 25/08/2023 and I got to see it. When I read it, I was surprised to see my signature on it because I was not present in India on 25/08/2023. I realised that my signature, which my son and his wife had taken… had been misused to make the supplementary family settlement agreement…

“I have checked the contract document with Square Forensic. It became clear that my false signature on the contract had been used as genuine to acquire the shares of the Graviss Group (which were) in my name.

(This is an edited version of the statement given by Ravi Ghai to the Marine Drive police)

‘This dispute between father & son is of civil nature’

This is a statement issued on behalf of Gaurav Ghai

“Over a decade ago, Ravi Ghai levelled serious allegations against his own sister and brother-in-law and approached the Mumbai police. Not so long ago, he cast aspersions on two reputed law firms that represented him in respect of the negotiations and agreements with Gaurav Ghai. The advocates have denied these aspersions.

“We are disturbed by the allegations levelled by Ravi Ghai against his son Gaurav Ghai in a complaint to the police in which he has made false and frivolous claims.

“The Ghai Group of companies was established by late IK Ghai and has witnessed extensive growth under the stewardship of Gaurav Ghai. The Graviss Group, as it is now known, owns and manages the InterContinental Hotel in Marine Drive, Mumbai, the Baskin Robbins franchise in SAARC, Kwality Ice Cream in the GCC, and several other food and hospitality related businesses.

“Gaurav Ghai has been managing the Graviss Group, including the only listed company in the group, Graviss Hospitality Ltd (GHL), for over 25 years, and in that period Ravi Ghai has not been involved in the management. Since the past 25 years, Ravi Ghai has been living separately from his wife Geeta.

“Disputes had arisen between Gaurav Ghai and Ravi Ghai. With a view to putting an end to the disputes, Gaurav Ghai, Ravi Ghai and Geeta Ravi Ghai entered into a Family Settlement Agreement (FSA) in 2021. It was agreed that Gaurav Ghai would have complete control over the family business and manage and run it. Since Ravi Ghai wanted to retain 51% shares of the Promoters/Friends/Family Group in GHL during his lifetime, he being the patriarch of the family, the request was accepted. It was categorically stated in the 2021 FSA that Ravi Ghai would bequeath the 51% shareholding controlled by him in GHL to Gaurav Ghai post his lifetime, which was to take effect immediately upon his demise. This formed a key condition, and he received a substantial amount for the same.

“However, owing to breaches of the 2021 agreement on part of Ravi Ghai, disputes arose anew. After extensive negotiations, a Supplemental Family Settlement Agreement was arrived at in 2023 between Ravi Ghai, his wife and children. This time, it was agreed that Ravi Ghai will not sell, encumber, assign, transfer or create any thirdparty rights of any nature whatsoever in 51% of the promoter shareholding in GHL. More so, it was agreed that shares held by Ravi Ghai in GHL will be put under freeze/hold in favour of Gaurav Ghai. Ravi Ghai received additional sums post the 2023 agreement. Ravi Ghai instructed the depository to put a freeze on the shares as confirmed by his law firm M/s Trilegal. M/s Trilegal also confirmed that Ravi Ghai has executed the documents as required.

“Gaurav Ghai has fulfilled his obligations and Ravi Ghai has benefitted tremendously from the Family Settlement Agreements… Lastly, the nature of disputes between the father and son is of a civil nature. It is already in arbitration. The Supreme Court has repeatedly stated that civil cases should not be made into criminal cases.”

(Full response: freepressjournal.in)

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