The Jaipur royal family members, who had stakes in personal properties that included luxury hotels and other immovable properties, decided to go for an out-of-court settlement following Supreme Court’s direction after years of contesting in various courts, including the National Company Law Tribunal.

The Supreme Court had appointed retired SC judge Justice Kurian Joseph as a mediator to work out a solution. Following the settlement, Justice Joseph presented the documents before the Supreme Court. After studying the same, the court accepted the same and passed the order that would be binding on all the stakeholders.

“In view of the settlement reached between the parties, learned counsels on both sides made a request to dispose of these appeals in terms of settlement. In view of the request made, these appeals are disposed of with a direction that all the parties concerned shall abide by the terms of the settlement. The order impugned stands modified, in terms of the Memorandum of Settlement dated December 15, 2021. Subject to above, Civil Appeals stand disposed of,” the apex court noted in its order.

“Maharaj Jai Singh and Maharaj Vijit Singh agreed to handover the Jai Mahal Palace to our Clients (Maharaj Devraj Singh and Rajkumari Lalitya Kumari ) under an amicable settlement arrived between them all on December 15, 2021,” advocate Abhishek Kumar Rao of law firm Prime Legal India LLP, said. Simultaneously, Maharaj Devraj Singh and Rajkumari Lalitya Kumari will also leave some of their rights in other property, he said.

(With inputs from agencies)