HIREMATH SIBLINGS
Baba Kalyani rejects claims of nephew, niece seeking family asset partition
Baba Kalyani filed his affidavit on Tuesday, stating that his nephew Sameer and niece Pallavi have no right to file and maintain a suit seeking partition of an alleged Kalyani Family HUF. According to him, the suit is filed by the siblings who by birth are members of the Hiremath family and, therefore, have no right to file and maintain a suit seeking partition of a Kalyani Family HUF.
Kalyani Group: How a piece of paper triggered brother-sister dispute
A family feud within India's Kalyani Group has escalated, with sibling rivalry between Bharat Forge Chairman Baba Kalyani and sister Sugandha Hiremath over control of Hikal. Legal battles, ownership disputes, and boardroom struggles have unfolded, shedding light on the family's complex financial legacy.
Kalyani family feud deepens: Hiremath siblings move court for share in HUF assets
The ties between the Hiremaths and Baba Kalyani broke down over control of Kalyani Group company Hikal. The Hiremaths moved the Bombay HC in 2023 alleging that Kalyani wasn't honouring a family arrangement he had reached with his father that pledged to transfer all the Hikal shares to them. Baba Kalyani said the family arrangement of 1994 was just a "note" by his father Neelkanth Kalyani and not a legally binding document. The case is pending in court.
In 2023 India Inc. learnt hard lessons on families, friends and partners
India Inc 2023: The year 2023 saw significant turmoil within several prominent Indian businesses, including Bharat Forge, Indigo, Raymond Group, and Religare Enterprises. These disputes among family members, friends, and stakeholders shed light on critical issues. It emphasized the necessity for clear succession plans, strategies to shield companies from relationship conflicts, and improved scrutiny of stakeholders. This upheaval serves as a crucial lesson for corporate India, urging the development of better approaches to confront future challenges in a maturing corporate landscape, especially as women in top roles assert their influence.
Ownership dispute at Hikal ends Baba Kalyani's 31-year board stint
Turning 75 on January 7, Baba needed support from 75% of Hikal's shareholders to remain on the board. However, he managed to secure only around 52% of the votes. About 48% of the shareholders who cast their votes were against his reappointment, as revealed in regulatory filings.
Hikal board: Baba Kalyani's birthday may bring not-so-happy gifts for the billionaire
Baba Kalyani's reappointment as a director at Hikal is uncertain due to an ownership dispute and his upcoming birthday. His sister, Sugandha Hiremath, who owns 35% of Hikal, is expected to vote against his reappointment. Baba's continuation on the board remains doubtful, which would end his 31-year association with the company.
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Kalyani vs Hiremath: Why India Inc families end up in bitter feuds
At the centre of the dispute is a 1994 family arrangement, under which Kalyani is bound to sell his entire stake in Hikal to the Hiremaths. Kalyani has dismissed the transfer clause in the 1994 family arrangement as “a false claim” by Sugandha.
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