Stay updated with breaking news from Jaidev Hiremath. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
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.
Sameer Jai Hiremath and Pallavi Anish Swadi, the nephew and niece of industrialist Baba Kalyani, have filed a petition seeking their share in the Kalyani Hindu undivided family (HUF) properties, including stakes in various listed and private companies held under the Kalyani group, says a report.
Baba Kalyani's reappointment as a director at Hikal is uncertain due to an ownership dispute and his upcoming 75th birthday. His sister, Sugandha Hire
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.
A new regulation concerning the disclosure of family arrangements by listed companies is exacerbating rifts between feuding shareholders. The latest example is Bengaluru-based TD Power Systems (TDPS), currently enmeshed in a legal dispute before the Karnataka high court over ownership of its 16 per cent equity. Vijay Kirloskar, who is asserting a claim over the 16 per cent stake held by Mohib Khericha (chairperson of TDPS) and Nikhil Kumar (managing director of TDPS and nephew of Kirloskar), has sent a letter to the market regulator, Securities and Exchange Board of India (Sebi), and stock exc...