Baba Kalyani (File photograph)
The lawsuit focuses on partitioning the household’s holdings, encompassing pursuits in each publicly traded and privately held enterprises working
Industrialist Baba Kalyani is dealing with a recent authorized problem as his nephew and niece provoke a lawsuit to claim their possession rights over shares within the Kalyani household belongings. Reportedly, the lawsuit focuses on partitioning the household’s holdings, encompassing pursuits in each publicly traded and privately held enterprises working inside the Kalyani Group.
According to a report by CNBC-TV18, Sameer Jai Hiremath and Pallavi Anish Swadi, the nephew and niece of Baba Kalyani, respectively, declare that Baba Kalyani has been unfairly benefiting from the household belongings with out acknowledging their rightful entitlement.
They argue that they maintain a stake within the Kalyani Hindu Undivided Family (HUF) belongings. Additionally, they assert that Baba Kalyani has not supplied transparency relating to the standing and administration of those belongings inside the HUF.
In their petition, Sameer Jai Hiremath and Pallavi Anish Swadi requested the court docket to direct the defendants — Baba Kalyani, Amit Kalyani, Gaurishankar N. Kalyani, Sheetal Gaurishankar Kalyani, Viraj Gaurishankar Kalyani, and Sugandha Jai Hiremath — to allocate to them their rightful portion of the Kalyani Family HUF properties at present below their possession. Should division of the properties show impractical, the court docket is urged to authorize their sale to ensure the plaintiffs obtain their due share.
A spokesperson for the Kalyani Group mentioned, “We are in receipt of your email query. We have not been duly served any alleged suit as yet. It is therefore premature on our part to comment on any assertions/ allegations made therein on us. The allegations which have been referred to are factually incorrect, misconceived and is a malicious attempt with ulterior motives. Various assertions made contradict the petitioner family’s stance in other legal proceedings and are devoid of any locus standi.”
The authorized proceedings commenced by the duo underscore the lineage of those belongings, tracing their origins to the institution of companies and investments below the steering of Annappa Kalyani, the patriarch of the joint household, the report added.
As per the plaintiffs’ competition, all companies and investments stemming from the core of the joint household are deemed communal properties.
Of important competition inside the dispute are holdings in a number of publicly traded companies and privately owned ventures, collectively representing important pursuits throughout numerous sectors inside the Kalyani Group.
