-
Baba and Gaurishankar Kalyani are locked in a legal battle over their mother’s will, with conflicting wills from 2012 and 2022.
-
The dispute involves stakes in Kalyani Group companies, real estate, and investments in Hikal Ltd, worth between Rs 65,000 crore and Rs 70,000 crore.
-
Gaurishankar accuses Baba of coercion and undue influence over their mother to secure a favorable distribution of assets.
Bharat Forge Chairman Baba Kalyani and his younger brother Gaurishankar are embroiled in a high-stakes inheritance battle over their mother’s will. The dispute took a fresh turn with the brothers presenting conflicting wills in court, one from 2012 and another from 2022. The 2012 will allocates Sulochana Kalyani’s estate among her children, with Baba set to receive a significant share of assets.
Gaurishankar disputes the 2012 will, claiming the 2022 version revokes all previous ones. He accuses Baba of exerting undue influence over their mother and attempting to “usurp” properties intended for him. The brothers previously clashed with their sister Sugandha’s children, who sought a one-ninth share of the Kalyani family’s assets.
The ongoing feud has affected Hikal Ltd, a diversified company involved in pharmaceuticals and animal healthcare. Sugandha’s children’s claims have complicated the legal battles, with Baba’s resignation as non-executive director sparking speculation about the dispute’s impact on the company. The case is set to be heard in court next month, with the assets remaining in contention until a resolution is reached.
The Kalyani family dispute highlights the challenges of succession planning in Indian corporate families, where 97% lack formal family constitutions or succession planning ¹. The outcome of this battle will have significant implications for the Kalyani Group’s future and the Indian business landscape.
