Latest news with #GravissGroup
Time of India
20-07-2025
- Business
- Time of India
Graviss chairman moves high court over family settlement feud
Mumbai: Gaurav Ghai , chairman of Graviss Group , which owns and operates the Baskin-Robbins brand in the SAARC region, has approached the Bombay High Court against his father, Ravi Ghai , seeking the court's intervention to appoint an arbitrator for settling a dispute over a family settlement agreement ( FSA ). Justice Somasekhar Sundaresan, in his July 15 order, directed Gaurav Ghai to issue notices to all the parties, and posted the matter for further hearing on August 5. Explore courses from Top Institutes in Select a Course Category Others Data Science Product Management Operations Management Degree MCA CXO others PGDM Management Finance Design Thinking Public Policy Technology Digital Marketing Artificial Intelligence Project Management Leadership Healthcare Data Science Data Analytics healthcare Cybersecurity MBA Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT-ISB Transforming HR with Analytics & AI India Starts on undefined Get Details Mumbai-headquartered Graviss Group also has interests in real estate and the hospitality business. However, the dispute is only around the group's listed entity, Graviss Hospitality (GHL), which owns a boutique luxury hotel, InterContinental Marine Drive. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Things Women Should NEVER Wear! Undo "The value of the promoter shares requested by my father in 2021 to be retained in his name, although the beneficial interest in these had passed to me, was a mere ₹25 crore. Over the years, the value of shares has gone up to ₹100 crore. Owing to the rise in value of shares placed under hold/freeze in my favour, he is doing everything to unlock, sell, and monetise his shares in GHL," said Gaurav Ghai when contacted. "The company contributes very minuscule amounts in terms of revenue, but for me, this company has sentimental value since it carries my grandfather's legacy," he added. The genesis of the dispute lies in the family settlement agreement (FSA) of 2021, between Ravi Ghai, his wife Geeta Ghai, and son Gaurav Ghai. According to the agreement, a copy of which was reviewed by ET, Gaurav Ghai would have complete control over the family business, and in lieu of that, his father Ravi Ghai would receive ₹235 crore. Live Events At the time of executing the agreement, Ravi Ghai intended to retain 51% of the shares in GHL during his lifetime. GHL contributes about 10% to the overall revenue of the Graviss Group. In August 2023, the family members entered into a supplemental FSA, under which Ravi Ghai agreed not to sell, encumber, assign, transfer, or create any third-party rights of any nature whatsoever on the 51% of promoter shareholding in GHL. The agreement also stated that Ravi Ghai would bequeath the 51% shareholding controlled by him in GHL to his son Gaurav, post his lifetime. Also, these shares were put under "hold/freeze", according to GHL's stock exchange filing. When contacted, Ravi Ghai denied the existence and validity of any supplemental FSA. "I have never signed, consented to, or authorised anyone to execute such a document on my behalf," said Ravi Ghai, in response to ET's email query.
Hi Dubai
16-05-2025
- Business
- Hi Dubai
Pure Ice Cream Breaks Ground on AED80 Million Manufacturing Facility in Dubai Industrial City
Pure Ice Cream has officially broken ground on its AED80 million manufacturing facility in Dubai Industrial City, marking a major step toward expanding local food production and export capabilities. The new 160,000-square-foot plant, expected to launch in 2026, will be one of the largest ice cream manufacturing facilities in the UAE. Once operational, it will boost Pure Ice Cream's annual production capacity to 50 million litres and create 60 new jobs. The groundbreaking ceremony was attended by Mohammed Shael Al Saadi, CEO of Dubai Corporation for Consumer Protection and Fair Trade, alongside key figures from the industrial and food sectors. The project supports several national initiatives, including Operation 300bn, Make it in the Emirates, and the Dubai Economic Agenda 'D33'. Saud Abu Alshawareb, Executive Vice President – Industrial at TECOM Group PJSC, said the project reflects the UAE's growing status as a global food manufacturing hub and aligns with national efforts to enhance food security. Part of the Graviss Group, Pure Ice Cream signed a musataha agreement with Dubai Industrial City at the SIAL Paris food and beverage exhibition in October 2024. The facility will export to more than 20 countries and adopt sustainable practices such as solar energy and biodegradable packaging. 'We are looking forward to building the largest ice cream plant in the GCC and exporting products globally from Dubai,' said Gaurav Ghai, Chairman of Graviss Group. The plant will be integrated into Dubai Industrial City's broader ecosystem, which continues to attract investment in local manufacturing and supply chain development. News Source: Emirates News Agency
Zawya
16-05-2025
- Business
- Zawya
Construction begins on Pure Ice Cream's $21.7mln facility at Dubai Industrial City
DUBAI: Dubai Industrial City, part of TECOM Group PJSC, witnessed the groundbreaking ceremony for the new Pure Ice Cream facility, valued at AED80 million, in the presence of Mohammed Shael Al Saadi, CEO of Dubai Corporation for Consumer Protection and Fair Trade, along with several leaders from the industrial and food sectors. Spanning 160,000 square feet, the facility will be among the UAE's largest ice cream manufacturing plants upon its launch in 2026. It is expected to boost Pure Ice Cream's annual production capacity to 50 million litres. 'Dubai Industrial City's ecosystem is geared to strengthen the supply chain of 'Made in UAE' products for long-term economic prosperity,' said Saud Abu Alshawareb, Executive Vice President of Industrial at TECOM Group PJSC, on behalf of Dubai Industrial City. 'Pure Ice Cream's facility reflects the country's strength as an international food production hub, and we champion manufacturers to contribute towards Operation 300bn, Make it in the Emirates, Dubai Economic Agenda 'D33', and National Food Security Strategy 2051.' Pure Ice Cream, part of Graviss Group, signed a musataha agreement with Dubai Industrial City during the SIAL Paris international food and beverage exhibition in October 2024. The new facility will use biodegradable packaging for the facility's three-gallon product line, as well as incorporate solar power, in line with its goal of achieving carbon-neutrality through the project that will create 60 additional jobs upon completion. 'We are looking forward to building the largest ice cream plant in GCC and exporting products to over 20 countries from Dubai,' said Gaurav Ghai, Chairman of Graviss Group.
Emirates 24/7
16-05-2025
- Business
- Emirates 24/7
Construction begins on Pure Ice Cream's AED80 million facility at Dubai Industrial City
Dubai Industrial City, part of TECOM Group PJSC, witnessed the groundbreaking ceremony for the new Pure Ice Cream facility, valued at AED80 million, in the presence of Mohammed Shael Al Saadi, CEO of Dubai Corporation for Consumer Protection and Fair Trade, along with several leaders from the industrial and food sectors. Spanning 160,000 square feet, the facility will be among the UAE's largest ice cream manufacturing plants upon its launch in 2026. It is expected to boost Pure Ice Cream's annual production capacity to 50 million litres. 'Dubai Industrial City's ecosystem is geared to strengthen the supply chain of 'Made in UAE' products for long-term economic prosperity,' said Saud Abu Alshawareb, Executive Vice President of Industrial at TECOM Group PJSC, on behalf of Dubai Industrial City. 'Pure Ice Cream's facility reflects the country's strength as an international food production hub, and we champion manufacturers to contribute towards Operation 300bn, Make it in the Emirates, Dubai Economic Agenda 'D33', and National Food Security Strategy 2051.' Pure Ice Cream, part of Graviss Group, signed a musataha agreement with Dubai Industrial City during the SIAL Paris international food and beverage exhibition in October 2024. The new facility will use biodegradable packaging for the facility's three-gallon product line, as well as incorporate solar power, in line with its goal of achieving carbon-neutrality through the project that will create 60 additional jobs upon completion. 'We are looking forward to building the largest ice cream plant in GCC and exporting products to over 20 countries from Dubai,' said Gaurav Ghai, Chairman of Graviss Group. Follow Emirates 24|7 on Google News.
Arabian Business
15-05-2025
- Business
- Arabian Business
SCOOP: Pure Ice Cream starts work on massive solar-powered $22m factory in Dubai
The solar-powered ice cream factory will be among the UAE's largest ice cream facilities when it launches in 2026, increasing Pure Ice Cream's annual production capacity to 50 million litres. In anticipation of the increased capacity, Pure Ice Cream has entered a production agreement for Baskin-Robbins ice creams with the US-headquartered Inspire Brands. Solar-powered ice cream in Dubai Gaurav Ghai, Chairman of Graviss Group, said: 'We are looking forward to building the largest ice cream plant in GCC and exporting products to over 20 countries from Dubai'. Michael Haley, President and Managing Director of International for Inspire Brands, said: 'The groundbreaking of the new Pure Ice Cream manufacturing facility in Dubai Industrial City demonstrates our continued commitment to growth in the Middle East. 'Baskin-Robbins has a longstanding presence in Dubai—more than 45 years. This new facility will unlock continued growth for Dubai's business community and Baskin-Robbins consumers across the region.' Saud Abu Alshawareb, Executive Vice President of Industrial at TECOM Group PJSC, on behalf of Dubai Industrial City, said: 'Dubai Industrial City's ecosystem is geared to strengthen the supply chain of 'Made in UAE' products for long-term economic prosperity. 'Pure Ice Cream's facility reflects the country's strength as an international food production hub, and we champion manufacturers to contribute towards Operation 300bn, Make it in the Emirates, Dubai Economic Agenda 'D33', and National Food Security Strategy 2051.' Pure Ice Cream signed a musataha agreement with Dubai Industrial City during the SIAL Paris international food and beverage (F&B) show in October 2024 and is actively targeting new export markets in Africa, the Levant, and Southeast Asia as the project progresses. Winner Holistic Consultant is providing consultancy services for the 160,000sq ft facility situated on a 246,000sq ft land plot, with the project's contracting teams to be confirmed imminently. The automated plant will combine artificial intelligence (AI) and automation systems for optimised efficiencies and enhanced quality control. In addition to AI-enabled supply chain platforms and a fully automated industrial process system, the project will feature x-ray detection technology and a research and development and testing facility to ensure product excellence. Pure Ice Cream will use biodegradable packaging for the facility's three-gallon product line, as well as incorporate solar power, in line with its goal of achieving carbon-neutrality through the project that will create 60 additional jobs upon completion. Dubai Industrial City is home to more than 1,100 local, regional, and international customers and upwards of 350 operational factories, with its roster of customers including F&B leaders such as Asmak, Patchi, and Al Barakah Dates. Pure Ice Cream's facility marks further growth at the district, which was established in 2004 with an intelligent, sector-specific masterplan with dedicated zones for base metals, machinery, minerals, F&B, transport, and chemicals. Located in strategic proximity to Al Maktoum International Airport, Jebel Ali Port, an Etihad Rail freight terminal, and key road networks, the district attracted more than AED 350 million in investments from F&B customers in 2024.
