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Bringing a new twist to the family feud within the Kalyani family, the Bombay High Court has allowed Sameer Hiremath and Pallavi Swadi to amend their partition suit, allowing them to bar the voting rights of their uncles – Baba Kalyani and Gaurishankar Kalyani.
The Hiremath siblings had earlier attempted to amend their petition, but this was rejected by a Pune court. Bombay High Court has now overturned the order of Pune Court. The siblings are looking to add to the reliefs they originally sought and are now seeking a court direction that would bar promoters of Kalyani group companies, including Baba Kalyani and Gaurishankar Kalyani, from exercising their voting rights.
Several Kalyani Group companies, including flagship Bharat Forge, Kalyani Steels, HIKAL and Automotive Axles, are listed on the stock exchanges. Collectively, these companies have a combined market capitalization of over ₹70,000 crore.
Baba Kalyani, the head of the family, has a brother, Gaurishankar Kalyani, and a sister, Sugandha Hiremath. Sugandha Hiremath’s son and daughter had filed a lawsuit in a Pune court seeking division of the Kalyani family’s assets, including listed companies.
They have based their partition suit on the claim that the Kalyani family properties do not belong to any single individual but constitute a Hindu Undivided Family (HUF). In his lawsuit, he alleged that his uncle Baba Kalyani is trying to “take over all the assets of Kalyani HUF”.
CNBC-TV18 contacted Kalyani Group for comment. In a statement, the group said, “The order is purely procedural and reflects settled law allowing a party to seek relief. It does not grant the Hiremaths any substantive relief with respect to voting rights or property, as is being suggested. All such issues will be decided by the Court after hearing both sides.”
Portraying this routine procedural order as a concrete victory is misleading and misrepresents the true scope of the Court’s directions.”
The Bombay High Court has allowed the Hiremath siblings three weeks to amend their petition.