Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Hotel feud spills out in the open
Mint Chennai
|July 21, 2025
Ravi Ghai, son Gaurav Ghai are locked in dispute over shares of Graviss, operator of Mumbai's InterContinental
The Graviss Group, the founders of Kwality Ice Creams and South Bombay landmarks such as Gaylord's and the erstwhile Nataraj hotel, are embroiled in a familial dispute that is turning acrimonious. The fault lines run between Ravi Ghai, the son of Kwality founder IK Ghai, and his son Gaurav Ghai. It involves shares of Graviss Hospitality Ltd, the 300-crore market capitalization company that owns and operates the InterContinental Hotel on the city's iconic Marine Drive promenade.
As part of a family settlement agreement signed in 2021 and a supplementary agreement signed in 2023, Ravi Ghai transferred all his stake in all the group's private companies to his son for a payment of ₹105 crore. Mint has seen a copy of these agreements.
Ravi Ghai also received payments when the Graviss group exited a joint venture making non-dairy cream. In all, he received ₹235 crore net of taxes between 2021 and 2024.
This story is from the July 21, 2025 edition of Mint Chennai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Chennai
Mint Chennai
It's a new day for labour as 4 codes kick in
FROM PAGE 16
3 mins
November 22, 2025
Mint Chennai
Groww’s CEO sees long growth runway
Fintech platform and broking firm Groww has just started its journey and has “not even covered 1% of our journey” even though it has completed nine years of existence, co-founder and chief executive officer Lalit Keshre in his first-ever letter to shareholders.
2 mins
November 22, 2025
Mint Chennai
Digital gold stumbles, ETFs sniff opportunity
Fund houses are promoting gold ETFs as secure, regulated, transparent
2 mins
November 22, 2025
Mint Chennai
Behind strong Q2 show, a shallow recovery
India Inc’s September-quarter print was shaped by small- and mid-cap outperformance, and sector-specific boosts for oil marketing companies, cement and consumption niches rather than a broad-based demand upturn.
2 mins
November 22, 2025
Mint Chennai
All you need is glove
It may seem like a soft target, I know, to go after a show that has received no positive reviews at all.
4 mins
November 22, 2025
Mint Chennai
Rising stars of mixed-doubles table tennis
Diya Chitale and Manush Shah are the first Indians to qualify for the WTT Finals
4 mins
November 22, 2025
Mint Chennai
Road trippin' through the Deep South in the US
A road trip through Louisiana, Alabama and Tennessee reveals the weight of civil rights history and its contradictions in small-town America
4 mins
November 22, 2025
Mint Chennai
Govt tells SC it will ensure ISL is held
Offering a glimmer of hope for football fans, the Centre told the Supreme Court on Friday that it will take steps to conduct the Indian Super League (ISL) 2025-26 season, as the over ₹450 crore tournament failed to attract a single bidder amid administrative and fiscal uncertainty within the All India Football Federation (AIFF).
1 min
November 22, 2025
Mint Chennai
Finding inspiration in the chessboard
In his latest exhibition in Mumbai, artist Arvind Sundar explores the synergy between chess, art and mathematics
3 mins
November 22, 2025
Mint Chennai
The sweet legacy of Murshidabad
Get a taste of a unique culinary heritage shaped by migration and royalty in this Bengal town
2 mins
November 22, 2025
Listen
Translate
Change font size