Gujarat chief minister launches GCCI's book on Hindu Succession Act
Bhupendra Patel
launched a book about the Hindu Succession Act published by the Gujarat Chamber of Commerce and Industry (GCCI) on Wednesday.
GCCI direct tax committee chairman CA Jainik Vakil said, "We regularly organise programmes about direct taxation, budget discussions, books, and open houses.
This book, Hindu Succession Act, is written by Upendra Bhatt and it gives in-depth knowledge about the act.
Traders find it difficult to understand the complexity of tax assessment under HUF, but it is explained well in the book."
GCCI President Sandeep Engineer, author of the book Upendra Bhatt, and Jainik Vakil participated in the book launch with the chief minister.
You Can Also Check:
Ahmedabad AQI
|
Weather in Ahmedabad
|
Bank Holidays in Ahmedabad
|
Public Holidays in Ahmedabad
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Value Chain
6 hours ago
- Fashion Value Chain
Youth-powered Solutions Take Center Stage at BRICS CCI Youth Leadership Dialogue 2.0
Youth-powered solutions took center stage at the BRICS CCI Youth Leadership Dialogue 2.0, hosted by the BRICS Chamber of Commerce and Industry (BRICS CCI) from August 4 to 12, 2025. Organized under the esteemed patronage of Mr. Sameep Shastri, Vice Chairman of BRICS CCI, President of the BRICS CCI Young Leaders Vertical, and grandson of former Prime Minister Shri Lal Bahadur Shastri, the seven-day program called for harnessing the ideas, energy and skills of India's youth to tackle the nation's development priorities. During the summit, engagement with leaders from politics, diplomacy, governance, entrepreneurship and business equipped participants with insights to shape their future global leadership roles. BRICS CCI Youth Leadership Dialogue 2.0 Aligned with International Youth Day celebrations, BRICS CCI Young Leaders Dialogue 2.0 further built on the success of its inaugural edition and reaffirmed its commitment to empowering young Indians to drive national growth and global leadership. With India poised to have one of the world's largest working-age populations over the next two decades, the Dialogue emphasized the need to actively involve young leaders in shaping policy, governance and societal transformation. The summit brought together a carefully selected group of young participants from across the country, providing them with skills, insights and networks to lead with impact. Mr. Shastri highlighted the event's transformative purpose, stating, 'Empowering young leaders is not just about imparting knowledge, it is about equipping them with the confidence and networks to shape the global narrative.' The summit witnessed the participation of the BRICS CCI Core Committee, including Mr. Harvansh Chawla, Chairman; Dr. BBL Madhukar, Co-Chairman & Director General; Mr. Ashok Kumar Singh, Vice Chairman and Mr. Ruhail Ranjan, Treasurer, BRICS CCI. Over the course of seven days, participants engaged with a distinguished lineup of speakers and influencers. Among the notable figures were Lt. Gen D.V. Kalra (Retd.), Air Vice Marshal Rajeev Sharma (Retd.), and Rear Admiral A.S. Sethi (Retd.), who shared insights on leadership, discipline, and technological challenges. The diplomatic segment featured Mr. Mikhail Antsiferov, Third Secretary, Russian Embassy; Ms. Leticia Marranghello, Second Secretary, Political Section, Embassy of Brazil; Mr. Peter Mahafha, First Secretary, Political, South African High Commission; Amb. Amarendra Khatua, former High Commissioner of India to Argentina; Mr. Zhang Yefei, First Secretary, Embassy of the People's Republic of China, alongside senior civil servants IPS Parvez Hayat, IPS Shashank Jaiswal, and IRS Sukhad Chaturvedi. The entrepreneurial and corporate leadership sessions included Mr. Bibin Babu, Co-Founder of Paycio; Mr. Prann Sharma, President of Shree Baidyanath Ayurved Bhawan Pvt Ltd and BRICS CCI Governing Body Member; Mr. Jitendra Sharma, CEO of Hairoriginals; Mr. Vikas Dua, HR Head India, Weber Shandwick; Mr. Ankit Jhamb, Chief Learning Officer, Grant Thornton Bharat LLP; Mr. Anuj Gautam, Founder of Label-AG among others. The final day was marked by keynote addresses from Shri Rajesh Nagar, Minister of State for Food, Civil Supplies & Consumer Affairs Deptt. (Independent charge) and Minister of State for Printing & Stationery Deptt. ( Independent Charge), Government of Haryana; Dr. Rana Gurmit Singh Sodhi, Special Invitee to the National Executive of the BJP and Former Cabinet Minister of Punjab; Dr. Madhukar Gupta, Commissioner, State Election Commission, Rajasthan; Dr. Dnyaneshwar Manohar Mulay, Former Member, National Human Rights Commission; Mr. K.J. Alphons, IAS (Retd.), Former Union Minister for Tourism, India, and Former MLA; Air Marshal Ravi Kapoor (Retd.), Air Officer Commanding-in-Chief, Central Air Command; Mr. Sushil Sharma, CEO and MD, Marwari Catalyst; Mr. Anku Jain, Managing Director, MediaTek India and Mr. Nishant Sama, Co-Convener, BRICS CCI Young Leaders. Also featured was a keynote session by Mr. He Meng, Deputy Chief of Mission, Embassy of the People's Republic of China. The Dialogue further saw active participation from diplomatic representatives of Bolivia, Russia, Indonesia, South Africa, Brazil, Egypt, and Iran, among others. All participants were awarded globally recognized merit certificates in recognition of their active involvement and commitment to global leadership. By engaging with prominent figures from politics, diplomacy, governance, entrepreneurship, and corporate leadership, participants gained invaluable knowledge and perspectives to shape their future roles in global leadership. The summit successfully cultivated a dynamic and diverse cohort of future leaders prepared to drive positive change in India and across the world.
India Today
15 hours ago
- India Today
Sunjay Kapur's Rs 30,000 crore fortune without a will: Who's likely to gain most?
When industrialist Sunjay Kapur died suddenly earlier this year, he not only left behind a void for his family but also more than a vast business empire, and the question, who will inherit his vast empire?At stake is an estimated Rs 30,000 crore fortune spread across automotive interests, real estate, investments, and family trust holdings. The biggest complication: Kapur is believed to have died intestate, without leaving a legally recognised will in place since there has beem no news about it until the weeks since his death, the silence around succession has been broken by a chorus of competing voices: his mother Rani Kapur, his widow Priya Sachdev Kapur, his sisters, and even mentions of his former is, in some way, touched by the legal consequences of his absence, and by the vacuum his death has left in the control of the Sona Group, the family's flagship business. Family tree of Sunjay Kapur advertisementWHEN THERE'S NO WILLUnder the Hindu Succession Act, 1956, where a Hindu male dies intestate, his property devolves upon the heirs enumerated in Class I of the Schedule, all of whom inherit simultaneously and in equal shares."These Class I heirs include the widow, all sons and daughters (whether biological or lawfully adopted), and the mother, together with certain heirs of any predeceased children. The statutory scheme leaves no scope for discretion in the matter of quantum or sequence; each surviving Class I heir takes per capita, after payment of debts, funeral expenses, and other lawful liabilities. Class II heirs, agnates, and cognates succeed only in the absence of all Class I heirs," said Tushar Kumar, Advocate, Supreme Court of India. "Applying this to the facts at hand, if the late Sunjay Kapur were to have died intestate, leaving behind his widow, his biological children from his earlier marriage to Ms. Karisma Kapoor, any stepchildren who had been legally adopted by him during his lifetime, and his mother, Rani Kapur, all these persons would qualify as Class I heirs. The estate would be divided equally among them," he MOTHER'S CLAIM Sunjay Kapur with mother Rani Kapur Rani Kapur, Sunjay's mother, seems to have launched the most aggressive challenge to the succession. Her reaction has been multipronged: questioning the circumstances of her son's death, alleging corporate conspiracy, and claiming her rightful inheritance based on a 2015 a letter to the Sona Comstar board dated July 24, Rani alleged she was "compelled to sign various documents without explanation" while grieving and claimed her son died under "highly suspicious and unexplained circumstances". She demanded postponement of the AGM and accused unnamed individuals of seizing control during the family's mourning allegations escalated when she approached UK authorities with a formal criminal complaint, claiming Sunjay's death "may have been facilitated or orchestrated as part of a coordinated transnational conspiracy."Sona Comstar responded, issuing a legal cease-and-desist notice demanding she withdraw her "false, malicious, and damaging" statements within three days or face civil and criminal proceedings. The company firmly rejected her claims of coercion as "malafide, false, unwarranted and uncorroborated".Coming to her claim to her son's Rs 30,000 crore wealth, Rani Kapur has reportedly pointed to a will from 2015, which she claims names her as the principal beneficiary. If such a document exists, it could change the entire equation, but under Indian law, it must first survive intense Court advocate Tushar Agarwal explains, 'When a will is produced, the burden of proving its authenticity lies with the person presenting it. This means producing the original document, establishing that it was signed by the testator in sound mind, and proving it was attested by valid witnesses.' Any failure on these counts, he notes, could result in the will being the 2015 will were to be contested, grounds could range from undue influence to lack of testamentary capacity or even allegations of forgery. 'Such challenges are not uncommon in high-value estates,' says Agarwal, 'and the courts typically allow all parties to lead evidence before deciding.'THE WIDOW'S POSITION Sunjay Kapur with wife Priya S Kapur Priya Sachdev Kapur, Sunjay's third wife whom he married in 2017, seems to have consolidated her position. Within weeks of his death, she secured her appointment as a non-executive director of Sona Comstar with overwhelming shareholder support. 99.44% approval at the July 25 Annual General changed her Instagram handle from "Priya Sachdev Kapur" to "Priya Sunjay Kapur," updated her bio in an attempt to highlight her corporate roles, and declared herself as "carrying forward the vision" of her late after, she deleted her entire social media presence, signalling her intent to focus on business rather than public India's Hindu Succession Act, a widow is a Class I heir, entitled to an equal share of the estate alongside other surviving Class I heirs, namely, the mother and biological Rohila, Advocate & Partner, Aeddhaas Legal LLP, explains: 'If Sunjay Kapur left no will, his widow, biological children, and mother would inherit in equal proportions. Stepchildren only inherit if they were legally adopted.'For Priya Sachdev Kapur, this legal footing is SISTERS' STAKE Sunjay Kapur with his sistersMandhira Kapur and Superna Motwane. Sunjay Kapur has two sisters, Mandhira Kapur and Superna in an Instagram post, admitted she and Sunjay hadn't spoken for four years due to "a silly sibling squabble escalated to crazy levels due to egos and natural bullishness".advertisement"What happened towards the end has been both horrible and pointless. I'll never have my moments with him again," she wrote, sharing childhood photographs and lamenting their broken relationship. Her posts revealed deep regret: "I would give anything to just see my bhaiya one last time and tell him how much I love him".Recent posts by Mandhira show her standing with their mother, Rani, indicating she may support her mother's under Indian intestate succession law for Hindus, are not Class I heirs if the deceased leaves behind a widow, mother, or children. They fall into Class II, meaning they inherit only if no Class I heirs survive. In this case, that would leave them with no direct claim under intestate rules, but if the alleged will favoured them, or if assets were held in a trust or joint ownership, their role could WIVESKarisma Kapoor's name inevitably comes up in public conversations about Kapur's personal life, but her legal standing is straightforward. Sunjay Kapur with Karisma Kapoor advertisement"It must be emphasised that Ms. Karisma Kapoor, having been divorced from Shri Sunjay Kapur prior to his demise, would not fall within the definition of 'widow' in Section 8 of the Hindu Succession Act," said Kumar."She would, therefore, have no right in intestate succession to his estate. Her entitlement, if any, could only arise through a valid will in her favour or under the terms of any subsisting contractual or financial settlement pursuant to the divorce," he added. Nandita Mahtani Nandita Mahtani, Sunjay's first wife (married 1996-2000), remained completely outside the inheritance drama, having no children with only public reaction was dropping heart emojis on sister Mandhira's emotional Instagram tribute. As a successful fashion designer, she appears to have moved entirely beyond the Kapur family TRUST FACTORSome of Kapur's assets are believed to be linked to the RK Family Trust and other holding said, 'Trust assets follow the trust deed—not succession law—unless it's proven assets were wrongly moved into the trust..' This means that even if intestate rules favour one group, trust structures could leave significant portions of the wealth beyond their reach."Where assets are settled in a family trust, such as the RK Family Trust, their treatment depends on the nature of the deceased's interest therein. If the trust is discretionary and Sunjay Kapur held only a potential benefit at the discretion of the trustees, such interest is not inheritable property and does not devolve under intestate succession," said added, "Conversely, if the trust deed conferred upon him a fixed, vested, and transferable beneficial interest, that interest would pass to his legal heirs in accordance with the Act. Disputes may arise if it is alleged that amendments to the trust deed were made fraudulently or that the trust was a mere facade to divert estate assets."WHO HAS THE EDGE? Sunjay Kapur with his family. At this stage, Priya Sachdev Kapur, the widow, and her daughter from her first marriage, Safira Chatwal Kapur, who is said to have been legally adopted by Sunjay as per media reports, appear to have the strongest claim under default succession Kapur's position depends entirely on the court accepting the 2015 will she claims exists. The sisters' prospects rest on either a favourable will or specific trust provisions. The trust structures themselves could prove decisive in determining how much of the Rs 30,000 crore pie is even subject to intestate the courts decide on the will's validity, or confirm there isn't one, every potential heir remains locked in a tense waiting game.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends
Time of India
20 hours ago
- Time of India
Gujarat manufacturing sectors brace for impact as 50% tariff threat looms
1 2 3 4 Ahmedabad: As global trade tensions intensify, the spectre of steep 50% tariff on Indian exports by the US has cast a long shadow over Gujarat's manufacturing sector. Contributing a substantial chunk to India's industrial output, Gujarat's manufacturers could face significant disruptions across multiple industries, from textiles and chemicals to gems, ceramics, and engineering goods. For Gujarat's exporters, the risk is not just about losing price competitiveness abroad but also about navigating uncertain supply chains and shifting buyer preferences. Textiles: Value chain from yarn to garment under strain Gujarat's textile belt, from Surat's man-made fabric hub to Ahmedabad's composite mills, stands among the most exposed to any steep tariff shock. The US is India's single-largest textile export market, taking $11 billion worth of shipments annually, about a quarter of India's total textile exports. Of this, Gujarat accounts for roughly 35%. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad | Gold Rates Today in Ahmedabad | Silver Rates Today in Ahmedabad "A 50% tariff will wipe out exports," warns Rahul Shah, co-chairman, GCCI textile committee. "Everything from yarn to fabric shipments to the US is on hold. Even direct exporters are struggling, and the impact will snowball across the ecosystem, from mills to raw material suppliers and job work units." "With textile companies in India operating on thin margins of 13–15% EBITDA (earnings before interest, taxes, depreciation, and amortization), there is little room for absorbing such shocks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Wildlife Cameras Capture What No One Should See Ohi Blog Undo Earlier tariff hikes of 10% triggered some renegotiations between buyers and suppliers, but the current 25% and proposed jump to 50% leaves no scope for compromise. If large exporters lose or pause orders, the repercussions will ripple across the entire value chain, including players who never directly ship to the US," Shah adds. Bharat Chhajer, former chairman of Powerloom Development and Export Promotion Council (PDEXCIL), said, "There is no possibility to export to the US if the tariff is as high as 50%. We have seen huge cancellations of orders in the past few days across the country for the US. Now, we will have to find new markets for our textile and garment industry. Third-country manufacturing will be required if there is no change in the 50% tariff policy by the US. " Chemicals: Speciality exporters in the crosshairs Gujarat's chemical clusters supply a vast spectrum of products ranging from dyes and pigments to high-value speciality intermediates to industries worldwide. The US is India's single-largest market for chemical exports, and a steep tariff shock could deal a direct blow to the sector's competitiveness. "Most chemicals cannot absorb such a high tariff," says Ankit Shah, chairman of northern region, Chemexcil. "At 50%, there is no scope for negotiation. Orders are already on hold, and the cascading slowdown in textile exports will spill over to domestic manufacturers too." While commodity chemical players may still pivot to local demand, speciality chemical exporters face a far tougher road. Long product qualification cycles and high switching costs mean they cannot quickly replace lost business, and disrupted contracts could chip away at Gujarat's hard-won share in key markets like the US and Europe. Gems & jewellery: Diamond polishing edge at risk Surat's diamond cutting and polishing industry is a labour-oriented sector, which depends heavily on US demand. A 25% tariff already impacted the industry's orders, which are on hold. A 50% duty could see orders rapidly diverted to rival hubs in Bangkok, Hong Kong, China, Thailand, or Indonesia. "A majority of our exports are diamond-studded jewellery. If these markets become unviable, we will lose business to competitors abroad and need to urgently find new destinations for our exports. This will inevitably lead to job losses at home," says Haresh Acharya, director of India Bullion and Jewellers' Association (IBJA). The sector is already grappling with subdued US demand and volatile natural diamond prices after the introduction of lab-grown diamonds. A new tariff wall could further shrink export pipelines, derail plans for expansion and upgradation. Ceramics: Makers fear exports to US will stop Gujarat is the ceramic hub of India, with Morbi emerging as a global supplier over the years. However, the industry fears if the tariffs reach 50%, other countries will capture the US market. Kamlesh Patel, director of Indian Council of Ceramic Tiles and Sanitaryware (ICCTAS), said, "If tariffs reach 50%, our exports to the US will stop because other ceramic manufacturing countries like Spain and Italy have much lower tariffs compared to India. Currently, tariffs are 25%, and due to that, distributors and dealers in the US have passed on the cost to buyers, but it is not being accepted in the market. The number of orders has decreased. Ceramic and quartz exports to the US are around Rs 2,500-3,000 crore from India." Food: Industry stares at difficult situation Gujarat-based food industry is also worried about the tariff threats. Dhaval Raval, chairman of the Assocham food committee, said, "Some orders were cancelled following the 25% tariff. If it is increased to 50%, the situation will be worse. For Indian frozen food, there is little competition, but the prices for Indians living in the US will increase, affecting demand. There are significant order cancellations for spices players as well. " Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
