Homelegal News

    Liberty Shoes heir drags father to court over property dispute, says report

    Liberty Shoes heir drags father to court over property dispute, says report

    Liberty Shoes heir drags father to court over property dispute, says report
    Profile image

    By CNBC-TV18  IST (Updated)

    Mini

    Pranav Gupta, who holds a stake of 1.5% in the company has approached the Delhi High Court seeking greater share in family’s properties.

    Adesh Gupta, the Chief Executive Officer of popular footwear brand Liberty Shoes, has been dragged to court by his own son, reported The Economic Times.
    Pranav Gupta, who holds a stake of 1.5% in the company, has approached the Delhi High Court seeking greater share in family’s properties, the report said.
    In addition, the scion has charged his father and other shareholders of fraud.
    The report said Pranav, who is seeking additional stake in in all properties and assets of Liberty Footwear Group Company and Hindu undivided family (HUF), has sent letters to the CBI, Sebi, Economic Offence Wing of Mumbai Police, RBI, Serious Fraud Investigation Office and the Registrar of Companies with allegations of fraud against his kins.
    As per him, his father forged gift deeds and transferred high value shares belonging to him when he was not in the country, the report said.
    Earlier in April, the report said that the Delhi High Court passed an interim order on the partition suit filed by Pranav putting disputed assets into three buckets.
    The development is not a good news for the company as its investment arm i.e. Geofin Investments had only recently approached the National Company Law Appellate Tribunal (NCLAT), the report added.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng