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[Cites 7, Cited by 0]

Delhi District Court

Amiit Rai vs State And Others on 22 December, 2023

           IN THE COURT OF SIDDHANT SIHAG,
       ACJ-CUM-ARC-CUM-CCJ,NDD, PHC, NEW DELHI

                                      SUCCESSION CASE NO. 72/2022
     Amit Rai
     S/o Late Mrs. Sadhana Rai
     R/o 12, Aurangzeb Lane,
     New Delhi-110011                                        ..... Petitioner

                                      Versus

1. The State
   (Government of NCT of Delhi)

2. Vinay Rai
   S/o Late Mr. Kulwant Rai,
   R/o 12, Aurangzeb Lane,
   New Delhi-110011

3. Varun Rai
   S/o Smt. Sadhana Rai
   R/o 12, Aurangzeb Lane
   New Delhi-110011                                       ..... Respondents


PETITION FOR GRANT OF SUCCESSION CERTIFICATE
UNDER SECTION 372 OF THE INDIAN SUCCESSION ACT,
                      1925


          Date of institution of the petition          : 06.05.2023
          Arguments heard                              : 07.12.2023
          Date of pronouncement of judgment            : 22.12.2023
          Final Judgment                              : Allowed.

                               JUDGMENT

1. Petitioner has applied for succession certificate under Section 372 of the Indian Succession Act, 1925 in respect of debts & securities held in the name of his deceased mother namely Late SC No. 72/2022 Page No. 1 of 14 Amit Rai vs State & Ors Mrs. Sadhana Rai (As per CA Certified Valuation Report). The details of which are as under:-

Assets directly held in the name of Mrs. Sadhana Sl. Company Name Number of Value(Rs) No Units 1. Brentwoods International Ltd 30 300

2. Liquid Bees 1 1,144

3. Shri Krishna Life Science 2,50,000 5,40,693

4. UT Limited 2,000 2,47,479

5. Wellesley Corporation Ltd 1,00,00,000 1,02,00,000 6. Forest Fern Hospitality Pvt 10 100 Ltd 7. Forest Fern Resorts Pvt Ltd 20 200

8. Navrang Buildwell Pvt Ltd 2000 20,000

9. Navrang Buildwell Pvt Ltd 2000 20,000 10. Sarp Hotels Pvt Ltd 1 100 11. Oaks and Pines Hospitality 50 500 Pvt Ltd 12. Windsor Infrastructure Ltd 40 400

13. Aspire Home Finance Pvt 3 30,79,638 Ltd

14. Cinema Capital Venture Fund 1,96,000 19,60,000

15. IL & FS Milestone Fund 58 58,000

16. UTI Fixed Cap Fund 5000 50,000

17. UTI Flexi Cap Fund 1203 20,250 TOTAL(A) 1,61,98,804 S.No Investments under Number of Value(Rs) Beneficial Interest in Units Lord Dwarkadhish Trust

1. Brentwoods International 5,80,000/- 4,64,00,000 Ltd SC No. 72/2022 Page No. 2 of 14 Amit Rai vs State & Ors

2. Country Inn Pvt Ltd 42,100 4,21,000

3. Country Inn Pvt Ltd 60,000 6,00,000

4. Country Inn Pvt Ltd 1,45,000 14,50,000

5. Farrini Trade Link Pvt Ltd 500 5,000

6. Farrini Trade Link Pvt Ltd 500 5,000

7. Forest Fern Hospitality 100 2,000 Pvt Ltd 8. Forest Fern Resorts Pvt 60 42 Ltd

9. Gokul Dealers Pvt Ltd 10,000 1,00,000

10. Gokul Dealers Pvt Ltd 15,000 1,50,000

11. Gokul Dealers Pvt Ltd 24,000 2,40,000

12. Gokul Dealers Pvt Ltd 11,000 1,10,000

13. Navrang Buildwell Pvt 9800 98,000 Ltd

14. Navrang Buildwell Pvt 100 1,000 Ltd

15. Navrang Buildwell Pvt 100 1,000 Ltd

16. Oaks & Pines Hospitality 9900 99000 Pvt Ltd

17. Oaks & Pines Hospitality 50 500 Pvt Ltd

18. Ojas Buildmart Pvt Ltd 1000 10,000

19. Ojas Buildmart Pvt Ltd 1000 10,000

20. Ojas Buildmart Pvt Ltd 1000 10,000

21. Ojas Buildmart Pvt Ltd 1000 10,000

22. Ojas Buildmart Pvt Ltd 1000 10,000

23. Sarp Hotels Pvt Ltd 5 500

24. Seaweed Marbels Pvt Ltd 100 1000

25. Seaweed Marbels Pvt Ltd 5700 1000

26. Seaweed Marbels Pvt Ltd 500 5000

27. Shree Govind Hotels & 20 200 SC No. 72/2022 Page No. 3 of 14 Amit Rai vs State & Ors Health Resorts Pvt Ltd

28. Windsor Infrastructure Ltd 2,00,000 20,00,000

29. Windsor Infrastructure Ltd 2,49,900 24,99,000 TOTAL(B) 5,42,95,242 Investment under Beneficial Interest in Maa Kaila Devi Trust 1. Windsor Infrastructure Ltd 10 100 TOTAL (C) 100 Investment under Beneficial Interest in Jai Bala Ji Trust

1. Gokul Dealers Pvt Ltd 5,000 50,000

2. Gokul Dealers Pvt Ltd 5,000 50,000

3. Gokul Dealers Pvt Ltd 10,500 1,05,000

4. KJR Developers Pvt Ltd 4,84,200 4,84,200

5. KJR Developers Pvt Ltd 1,60,000 1,60,000 TOTAL(D) 8,49,200 Investments under Beneficial Interest 1. Windsor Infrastructure Ltd 20 200 2. Windsor Infrastructure Ltd 20 200 3. Windsor Infrastructure Ltd 10 100 TOTAL(E) 500 PF, PPF, Savings Account and Demat VALUE(Rs) Account PPF A/c No. 10933123825 maintained 25,89,436 with SBI, R.K.Puram, New Delhi PF A/c No. UAN: 100034894770 32,15,941 balance as on 22.07.2020 Savings Account with ICICI Bank A/c 4,42,837 SC No. 72/2022 Page No. 4 of 14 Amit Rai vs State & Ors No. 000701247769 TOTAL(F) 62,48,214 Bank Balances and FDR in Trusts Lord Dwarkadhish Trust :- Axis Bank 43,339 Savings A/c No. 206010100048921 Lord Dwarkadhish Trust :- Axis Bank 25,956 Current A/c No. 918020008937195 FDR in favour of Lord Dwarkadhish 11,94,443 trust with Axis Bank FDR No. 9190400030367956 Maa Kailadevi Trust :- Axis Bank 4828 Current A/c No. 9170200052188111 Lord Ram Trust:- ICICI Bank Current 1,35,041 A/c No. 004605001031 Jail Balaji Trust: Axis Bank Current A/c 22,219 No. 206010100085311 TOTAL(F) 14,25,826 GRAND TOTAL(A+B+C+D+E+F) 7,90,17,887

3. It is settled law that grant of succession certificate does not in any way amounts to deciding the title of the property in question and the succession certificate is granted for a limited purpose on the basis of prima facie title. The provision of Section 375 Indian Succession Act also ensures that the rightful claimant, if any, may be duly indemnified by the holder of succession certificate. Proceedings under the Indian Succession Act for grant of succession certificate are summary in nature and judgment can be passed, if the case of petitioner is admitted by other stakeholders viz. respondent/ other legal heirs/ bankers etc. holding debts & securities for the deceased.

SC No. 72/2022 Page No. 5 of 14

Amit Rai vs State & Ors

4. In the present case, summary proceedings have been conducted, witnesses examined and final arguments have been heard and record has been perused. Following material has come on record:-

(i) Notice of the petition was issued upon respondents, general public & SDM/EM. Notice of the petition was issued to general public by way of publication made in newspapers "Veer Arjun" dated 18.07.2022 and "The Statesman", dated 16.07.2022 in respect of decease Late Mrs. Sadhana Rai for inviting objections, if any, from general public. Despite publication, no objection to the grant of succession certificate in favour of petitioner was received from general public.
(ii) In response to notice, SDM report has been filed as per which deceased namely Late Mrs. Sadhana Rai is survived by Mr. Amit/petitioner (Son), Mr. Vinay Rail/respondent no.2 (Husband), Mr. Varun Rai/ respondent no.3 (Son).
(iii) Pursuant to notice, no objection affidavits of respondents no. 2 & 3 have been filed wherein they have stated that they had no objection, if succession certificate is granted to the petitioner.
(iv) In the petitioner's evidence, petitioner examined himself as PW1, tendered his affidavit as Ex.PW1/A and relied upon the following documents:
1) Original Authorization letter dated 28.11.2022- Ex.PW1/1;
2) Copy of aadhar card of petitioner- Ex.PW1/2(OSR);
3) Copy of death certificate of deceased- Ex.PW1/3(OSR);
4) Copy of aadhar card of Late Mrs.Sadhana Rai-

Ex.PW1/4(OSR);

SC No. 72/2022 Page No. 6 of 14

Amit Rai vs State & Ors

5) Computer print out of surviving members certificate-

Ex.PW1/5;

6) NOC of R-2 & R-3- Ex.PW1/6 & Ex.PW1/7;

7) Computer print out of statement of Demat account maintained by deceased- Ex.PW1/8;

8) One share certificate issued by M/s Forest Fern Hospitality Pvt. Ltd.- Ex.PW1/9(OSR);

9) One share certificate issued by M/s Forest Fern Resort Pvt.

Ltd.- Ex.PW1/10(OSR);

10) Two share certificates issued by M/s Navrang Buildwell Pvt.

Ltd.- Ex.PW1/11(colly.) (OSR);

11) One share certificate issued by M/s Sarp Hotels Pvt. Ltd.-

Ex.PW1/12(OSR);

12) One share certificate issued by M/s Oaks and Pines Hospitality Pvt. Ltd.- Ex.PW1/13(OSR);

13) Statement issued by Motilal Oswal with audit report in respect of Aspire Home Finance Pvt. Ltd.-Ex.PW1/14(OSR);

14) Email dated 09.04.2019 received from M/s Cinema Capital Venture Fund(Print out)-Ex.PW1/15;

15) Statement showing investments made with M/s IL & FS Milestone Fund(Print out)-Ex.PW1/16;

16) Consolidated A/c statement reflecting investments with M/s UTI Flexi Cap Fund (Print out)-Ex.PW1/17;

17) Demat A/c statement reflecting investments with M/s Brentwoods International Ltd.(Print out)- Ex.PW1/18;

18) Three share certificates issued by M/s Country Inn Pvt. Ltd.-

Ex.PW1/19(colly.)(OSR);

19) Two share certificates issued by M/s Farrini Trade Link Pvt.

SC No. 72/2022 Page No. 7 of 14

Amit Rai vs State & Ors Ltd.- Ex.PW1/20(colly.)(OSR);

20) One share certificate issued by M/s Forest Fern Hospitality Pvt. Ltd.- Ex.PW1/21(OSR);

21) One share certificate issued by M/s Forest Fern Resort Pvt.

Ltd.- Ex.PW1/22(colly.) (OSR);

22) One share certificate issued by M/s Gokul Dealers Pvt. Ltd.-

Ex.PW1/23(OSR);

23) Three share certificates issued by M/s Navrang Buildwell Pvt.

Ltd.- Ex.PW1/24(colly.) (OSR);

24) Two share certificates issued by M/s Oaks & Pines Hospitality Pvt. Ltd.- Ex.PW1/25(colly.) (OSR);

25) Five share certificates issued by M/s Ojas Buildmart Pvt. Ltd.-

Ex.PW1/26(colly.) (OSR);

26) One share certificate issued by M/s Sarp Hotels Pvt. Ltd.-

Ex.PW1/27(OSR);

27) Two share certificates issued by M/s Seaweed Marbles Pvt.

Ltd.- Ex.PW1/28(colly.) (OSR);

28) One share certificate issued by M/s Shree Govind Hotels & Health Resorts Pvt. Ltd.- Ex.PW1/29(OSR);

29) One share certificate issued by M/s Windsor Infrastructure Ltd.- Ex.PW1/30(OSR);

30) One share certificate issued by M/s Windsor Infrastructure Ltd.- Ex.PW1/31(OSR);

31) One share certificate issued by M/s Gokul Dealers Pvt. Ltd.-

Ex.PW1/32(OSR);

32) One share certificate issued by M/s KJR Developers Pvt. Ltd.-

Ex.PW1/33(OSR);

33) Three share certificate issued by M/s Windsor Infrastructure SC No. 72/2022 Page No. 8 of 14 Amit Rai vs State & Ors Ltd.- Ex.PW1/34(colly.) (OSR);

34) Statement of PPF A/c no.10933123825 maintained with SBI, R.K.Puram, New Delhi.- Ex.PW1/35(OSR);

35) Statement of Savings A/c no.000701247769 maintained with ICICI Bank (Print out)- Ex.PW1/36;

36) Statement of PF A/c UAN no.100034894770 (Print out).-

Ex.PW1/37;

37) Statement of saving A/c no.206010100048921 maintained with Axis Bank as beneficiary of Lord Dwarkadhish Trust- Ex.PW1/38(OSR);

38) Statement of current A/c no.918020008937195 maintained with Axis Bank as beneficiary of Lord Dwarkadhish Trust- Ex.PW1/39(OSR);

39) FDR No.9190400030367956 maintained with Axis Bank as beneficiary of Lord Dwarkadhish Trust.- Ex.PW1/40(OSR);

40) Statement of current a/c no.9170200052188111 maintained with Axis Bank as beneficiary of Maa Kaliadevi Trust.- Ex.PW1/41(OSR);

41) Statement of current a/c no. 004605001031 maintained with ICICI Bank as beneficiary of Lord Ram Trust- Ex.PW1/42(OSR);

42) Statement of current a/c no. 206010100085311 maintained with Axis Bank as beneficiary of Jai Bala Ji Trust.- Ex.PW1/43(OSR);

43) Original Valuation Report - Ex.PW1/44;

44) Certificate u/S 65B of Indian Evidence Act-Ex.PW1/45.

(v) Petitioner again examined himself as PW1 by way of his SC No. 72/2022 Page No. 9 of 14 Amit Rai vs State & Ors additional statement and relied upon the following documents:-

(i) Copy of Trust deed of Lord Dwarkadhish Trust dated 12.09.2005 is Ex-PW1/46(OSR).

(ii) Copy of Trust deed of Jai Balaji Trust dated 05.06.2006 is Ex-PW1/47(OSR)

(iii) Copy of Trust deed of Lord Ram Trust dated 30.09.1999 is Mark X.

(iv) Copy of Trust Dee of Maa Kalia Devi Trust is Mark Y.

5. In view of above discussion, I find that there is no impediment to the grant of succession certificate in favour of petitioner (Class-I Legal heir of deceased namely Late Mrs. Sadhana Rai) for transmission/receiving the following debts / securities (including interest, if any) held in the name of deceased person namely Late Mrs. Sadhana Rai(As per CA Certified Valuation Report) :-

Assets directly held in the name of Mrs. Sadhana Sl. Company Name Number of Value(Rs) No Units 1. Brentwoods International Ltd 30 300
2. Liquid Bees 1 1,144
3. Shri Krishna Life Science 2,50,000 5,40,693
4. UT Limited 2,000 2,47,479
5. Wellesley Corporation Ltd 1,00,00,000 1,02,00,000 6. Forest Fern Hospitality Pvt 10 100 Ltd 7. Forest Fern Resorts Pvt Ltd 20 200
8. Navrang Buildwell Pvt Ltd 2000 20,000
9. Navrang Buildwell Pvt Ltd 2000 20,000 SC No. 72/2022 Page No. 10 of 14 Amit Rai vs State & Ors 10. Sarp Hotels Pvt Ltd 1 100 11. Oaks and Pines Hospitality 50 500 Pvt Ltd 12. Windsor Infrastructure Ltd 40 400
13. Aspire Home Finance Pvt 3 30,79,638 Ltd
14. Cinema Capital Venture Fund 1,96,000 19,60,000
15. IL & FS Milestone Fund 58 58,000
16. UTI Fixed Cap Fund 5000 50,000
17. UTI Flexi Cap Fund 1203 20,250 TOTAL(A) 1,61,98,804 S.No Investments under Number of Value(Rs) Beneficial Interest in Lord Units Dwarkadhish Trust
1. Brentwoods International 5,80,000/- 4,64,00,000 Ltd
2. Country Inn Pvt Ltd 42,100 4,21,000
3. Country Inn Pvt Ltd 60,000 6,00,000
4. Country Inn Pvt Ltd 1,45,000 14,50,000
5. Farrini Trade Link Pvt Ltd 500 5,000
6. Farrini Trade Link Pvt Ltd 500 5,000
7. Forest Fern Hospitality 100 2,000 Pvt Ltd 8. Forest Fern Resorts Pvt 60 42 Ltd
9. Gokul Dealers Pvt Ltd 10,000 1,00,000
10. Gokul Dealers Pvt Ltd 15,000 1,50,000
11. Gokul Dealers Pvt Ltd 24,000 2,40,000
12. Gokul Dealers Pvt Ltd 11,000 1,10,000
13. Navrang Buildwell Pvt 9800 98,000 Ltd
14. Navrang Buildwell Pvt 100 1,000 SC No. 72/2022 Page No. 11 of 14 Amit Rai vs State & Ors Ltd
15. Navrang Buildwell Pvt 100 1,000 Ltd
16. Oaks & Pines Hospitality 9900 99000 Pvt Ltd 17. Oaks & Pines Hospitality 50 500 Pvt Ltd
18. Ojas Buildmart Pvt Ltd 1000 10,000
19. Ojas Buildmart Pvt Ltd 1000 10,000
20. Ojas Buildmart Pvt Ltd 1000 10,000
21. Ojas Buildmart Pvt Ltd 1000 10,000
22. Ojas Buildmart Pvt Ltd 1000 10,000 23. Sarp Hotels Pvt Ltd 5 500
24. Seaweed Marbels Pvt Ltd 100 1000
25. Seaweed Marbels Pvt Ltd 5700 1000
26. Seaweed Marbels Pvt Ltd 500 5000 27. Shree Govind Hotels & 20 200 Health Resorts Pvt Ltd
28. Windsor Infrastructure Ltd 2,00,000 20,00,000
29. Windsor Infrastructure Ltd 2,49,900 24,99,000 TOTAL(B) 5,42,95,242 Investment under Beneficial Interest in Maa Kaila Devi Trust 1. Windsor Infrastructure Ltd 10 100 TOTAL (C) 100 Investment under Beneficial Interest in Jai Bala Ji Trust
1. Gokul Dealers Pvt Ltd 5,000 50,000
2. Gokul Dealers Pvt Ltd 5,000 50,000
3. Gokul Dealers Pvt Ltd 10,500 1,05,000 SC No. 72/2022 Page No. 12 of 14 Amit Rai vs State & Ors
4. KJR Developers Pvt Ltd 4,84,200 4,84,200
5. KJR Developers Pvt Ltd 1,60,000 1,60,000 TOTAL(D) 8,49,200 Investments under Beneficial Interest 1. Windsor Infrastructure Ltd 20 200 2. Windsor Infrastructure Ltd 20 200 3. Windsor Infrastructure Ltd 10 100 TOTAL(E) 500 PF, PPF, Savings Account and Demat VALUE(Rs) Account PPF A/c No. 10933123825 maintained 25,89,436 with SBI, R.K.Puram, New Delhi PF A/c No. UAN: 100034894770 32,15,941 balance as on 22.07.2020 Savings Account with ICICI Bank A/c 4,42,837 No. 000701247769 TOTAL(F) 62,48,214 Bank Balances and FDR in Trusts Lord Dwarkadhish Trust :- Axis Bank 43,339 Savings A/c No. 206010100048921 Lord Dwarkadhish Trust :- Axis Bank 25,956 Current A/c No. 918020008937195 FDR in favour of Lord Dwarkadhish 11,94,443 trust with Axis Bank FDR No. 9190400030367956 Maa Kailadevi Trust :- Axis Bank 4828 Current A/c No. 9170200052188111 Lord Ram Trust:- ICICI Bank Current 1,35,041 A/c No. 004605001031 Jail Balaji Trust: Axis Bank Current A/c 22,219 No. 206010100085311 SC No. 72/2022 Page No. 13 of 14 Amit Rai vs State & Ors TOTAL(F) 14,25,826 GRAND TOTAL(A+B+C+D+E+F) 7,90,17,887
6. Consequently, the present petition is allowed and succession certificate be issued to petitioner for transmission/receiving the aforesaid debts/securities as mentioned in para no.5 of this judgment, on filing of requisite Court Fees of Rs. 15,80,358/- (rounded off) only in terms of Article 12, Schedule I of the Court Fee Act, 1870 as applicable to Delhi along with an indemnity bond of the petitioner in the sum of Rs.7,90,17,887/-.
7. File be consigned to Record Room after due compliance.
Digitally signed by

SIDDHANT SIDDHANT SIHAG SIHAG Date: 2023.12.22 15:46:15 +0530 Announced in the open (SIDDHANT SIHAG) court on 22.12.2023. ACJ/CCJ/ARC, NDD, PHC NEW DELHI : 22.12.2023 SC No. 72/2022 Page No. 14 of 14 Amit Rai vs State & Ors