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Monday, September 25, 2023

Kapoor family in talks to close RK Studios sale with Indian conglomerate

News Analysis |

RK studio is one of legendary actor and filmmaker Raj Kapoor’s biggest legacies which has been home to many cinema artistes over the years. A while back, the Kapoor family jointly arrived at the conclusion to sell the studio. The latest report doing rounds on the internet suggests that the family is in talks with an Indian conglomerate for the sale of the iconic studios in Chembur.

Reports state that a public notice was issued by a legal firm on Friday on behalf of Kapoor siblings- Randhir, Rishi, Rajiv, Ritu Nanda and Rima Jain, stating that the title of the property was being investigated. Negotiations with the Indian conglomerate are in the final stages and after an investigation of ownership rights of the Kapoor siblings, the property shall be registered.

Although a representative declined from commenting about the numbers involved in the property sale, reports claim that negotiations are at whopping Rs 170-190 crore, while the market rate is close to Rs 150 crore. Rs 20 to Rs 40 crore is reportedly the premium attached to the iconic land parcel measuring 9,018.85 sq mt.

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The notice published in newspapers specifies investigation into respective 1/5th undivided shares, right, title and interest in the property of all five Kapoor siblings. It requests all persons, entities holding any right or claim to the piece of cinematic history to contact the legal firm with documentary evidence within 14 days from Saturday.