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The Supreme Court has directed the implementation of a mediated settlement in a long-running dispute involving the family of late real estate developer Ashok Varma and assets linked to the Ardee Group. The matter, centred on control of family-owned real estate holdings and business interests, involved Varma's daughters, Shefali Varma and Shibani Varma Kapur. Following mediation led by former Supreme Court judge Justice Kurian Joseph, the parties reached an agreement resolving major areas of contention. The apex court has now ordered execution of the settlement and granted time for completion of the implementation process. The development marks a significant step towards concluding years of litigation surrounding one of the prominent family disputes connected to the Gurugram-based real estate group.
The Supreme Court has directed the execution of a settlement reached in a dispute involving the family of late real estate developer Ashok Varma, bringing a major breakthrough in a long-running legal battle concerning the Ardee Group and associated family assets. The order was passed in the past week after the court reviewed a report submitted by a mediator appointed to facilitate an amicable resolution between the parties.
A bench comprising Justices J.K. Maheshwari and Atul S. Chandurkar took note of the mediator's report and directed the parties to implement the agreed settlement. The dispute involved Shefali Varma and Shibani Varma Kapur, daughters of Ashok Varma, and centred on control of family-owned real estate assets and business interests linked to the Ardee Group.
The litigation has been closely watched within real estate circles due to the scale of the family's business interests and the prolonged legal proceedings surrounding ownership and management of key assets. The Ardee Group has been associated with several real estate developments, particularly in the National Capital Region, and the dispute had remained unresolved for several years.
To facilitate a resolution, the Supreme Court had appointed former Supreme Court judge Justice Kurian Joseph as mediator. The appointment came after both sides agreed to pursue mediation as an alternative to continuing litigation. The court had observed that the matter warranted efforts towards an amicable settlement and requested Justice Joseph to assist the parties in resolving their differences.
During the mediation process, Justice Joseph submitted an interim report informing the court that substantial progress had been achieved and that the parties had resolved their major disputes. According to court records, a settlement framework was developed through the mediation proceedings, while additional time was sought to finalise implementation-related aspects and complete the broader settlement process.
Taking note of the progress, the apex court granted time for execution of the settlement and directed the parties to carry forward the agreed terms. The court's order effectively shifts the focus from dispute resolution to implementation of the settlement framework negotiated between the parties.
The interim report placed before the bench indicated that the principal disputes between the parties had been settled through mediation. With the Supreme Court now directing execution of the agreement, the matter appears to be moving towards closure after years of litigation over family-controlled real estate assets and business interests associated with the Ardee Group.
Source - PTI
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