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Trouble brews in Raunaq Singh family
Business Standard
|August 15, 2023
Issues have surfaced in the familyheld businesses of entrepreneur Raunaq Singh's younger son, Surinder Paul Kanwar, over a family settlement dispute.
For over a decade, Surinder Kanwar and his sons, Sameer Kanwar and Sachit Kanwar, have been managing and operating the listed companies Bharat Gears and Raunaq EPC International.
On Monday, Bharat Gears issued a notification to the exchanges, stating that the company had received a memorandum of family settlement from Sameer Kanwar. However, this memorandum is being disputed by his father (Surinder Kanwar). The matter is sub judice, and the next hearing is scheduled for December 13, 2023.
"...this is to inform you that the company has received from Sameer Kanwar a photocopy of the purported memorandum of family settlement dated April 13, 2012, entered into among family members of Surinder Paul Kanwar, comprising Sameer Kanwar, his brother Sachit Kanwar, his father Surinder Paul Kanwar, and various other unlisted entities as confirming parties," the notification stated.
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