New Delhi, July 21 -- The Graviss Group, the founders of Kwality Ice Creams and South Bombay landmarks such as Gaylord's and the erstwhile Nataraj hotel, are embroiled in a familial dispute that is turning acrimonious.

The fault lines run between Ravi Ghai, the son of Kwality Ice Creams founder I.K. Ghai, and his son Gaurav Ghai. The dispute involves shares ofGraviss Hospitality Ltd, the Rs.300-crore market capitalization company that owns and operates the InterContinental Hotel on the city's iconic Marine Drive promenade.

As part of a family settlement agreement signed in 2021 and a supplementary agreement signed in 2023, Ravi Ghai transferred all his stake in all the group's private companies to his son for a payment of Rs.105 crore. ...