- Bharat Forge MD, Babasaheb Kalyani, refutes claims made by nephew and niece over partition of family assets, citing they’re not part of the Kalyani Hindu undivided family under present law.
- Sameer Jai Hiremath and Pallavi Swadi, children of Kalyani’s estranged sister, filed a suit seeking partition of family assets, including Bharat Forge. Kalyani argues they lack the legal standing to file such a suit.
- Dispute also involves Hikal Limited shares, with Hiremath family alleging Kalyani’s non-compliance with a family arrangement. The listed entity, Hikal, is undergoing significant capital expenditure for expansion, amid the ongoing legal battle.
Baba Kalyani, MD of Bharat Forge, finds himself embroiled in a family dispute as he rejects claims made by his nephew and niece, Sameer Jai Hiremath and Pallavi Swadi, regarding the partition of family assets. The siblings, children of Kalyani’s estranged sister, sought partition of assets, including shares in Bharat Forge. However, Kalyani contends that they are not legally entitled to make such claims under present laws governing Hindu undivided families.
The dispute extends beyond Bharat Forge to Hikal Limited, where the Hiremath family alleges Kalyani’s non-compliance with a family arrangement. Despite the legal battle, Hikal is undergoing significant capital expenditure for expansion, including investments in crop protection and animal healthcare facilities. While Kalyani has resigned from his position on Hikal’s board amidst the dispute, the company remains focused on its growth plans, with ICRA reaffirming its ratings and monitoring any potential impact on the company’s credit risk profile.
