Nephew, niece not in Kalyani HUF: Baba Kalyani to court
Baba Kalyani filed his affidavit on Tuesday, stating that his nephew Sameer and niece Pallavi have no right to file and maintain a suit seeking partition of an alleged Kalyani Family HUF. According to him, the suit is filed by the siblings who by birth are members of the Hiremath family and, therefore, have no right to file and maintain a suit seeking partition of a Kalyani Family HUF.
In the ongoing between and his sister’s children, the chairman has filed an in that neither Sameer nor are part of the Kalyani joint .The affidavit was filed in response to an application filed by siblings Sameer and Pallavi for an ad-interim relief, urging the court to prohibit Baba Kalyani from conducting any transactions related to the properties of the Kalyani Hindu Undivided Family (), including sales, transfers, possession deliveries, or the establishment of third-party rights.
In March, Sameer and Pallavi, children of Baba Kalyani’s sister Sugandha and Jai Hiremath, filed a suit in a Pune court seeking of the Kalyani family to claim their share of the Kalyani HUF assets, which include as well as listed and privately held companies.
The suit came up for hearing on Monday. The siblings pleaded with the court “that pending the hearing and final disposal of this suit, it is just and expedient to appoint a court receiver to safeguard the properties, which are admittedly large in number, of the HUF”.
After the court heard the siblings’ side, Baba Kalyani's side stated that he would file a reply by Thursday.
Baba Kalyani filed his affidavit on Tuesday, stating that his nephew Sameer and niece Pallavi have no right to file and maintain a suit seeking partition of an alleged Kalyani Family HUF. According to him, the suit is filed by the siblings who by birth are members of the Hiremath family and, therefore, have no right to file and maintain a suit seeking partition of a Kalyani Family HUF.
The affidavit states that the suit does not disclose any cause of action and ought to be rejected at the threshold on this ground alone. It is vague and does not disclose any details of properties alleged to be HUF properties and the siblings are guilty of suppression of material facts, said the affidavit.
Baba Kalyani and Hiremath's group did not respond to ’s queries.
The ties between the Hiremaths and Baba Kalyani broke down over the control of chemicals company Hikal. The Hiremaths moved the in 2023 alleging that Kalyani wasn’t honouring a family arrangement he had reached with his father that pledged to transfer all the shares to them. Baba Kalyani said the family arrangement of 1994 was just a “note” by his father Neelkanth Kalyani and not a legally binding document. The case is pending in court.
The comprises eight listed companies with a combined market capitalisation of Rs 75,600 crore. Bharat Forge dominates with a valuation of Rs 58,105 crore, with the Kalyani Group having a 45.25% stake in it. Hikal’s market value at the end of Tuesday's trade was Rs 3,636 crore.
Source: Stocks-Markets-Economic Times
