Industrialist Baba Kalyani is facing a fresh legal challenge as his nephew and niece initiate a lawsuit to assert their ownership rights over shares in the Kalyani family assets. Reportedly, the lawsuit focuses on partitioning the family’s holdings, encompassing interests in both publicly traded and privately held enterprises operating within 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, claim that Baba Kalyani has been unfairly benefiting from the family assets without acknowledging their rightful entitlement.
They argue that they hold a stake in the Kalyani Hindu Undivided Family (HUF) assets. Additionally, they assert that Baba Kalyani has not provided transparency regarding the status and administration of these assets within the HUF.
In their petition, Sameer Jai Hiremath and Pallavi Anish Swadi requested the court 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 currently under their possession. Should division of the properties prove impractical, the court is urged to authorize their sale to guarantee the plaintiffs receive their due share.
‘Claims Made With Intent To Malign Image of Baba Kalyani’
A statement by Bharat Forge on Wednesday said, “The claims by the petitioners have been made with the intent to malign the image of Shri Baba Kalyani, his family & the Group. We categorically deny these allegations and state that the aversions made are factually incorrect and baseless.
It is shocking that the petitioners filed the suit on March 20th, 2024 in the Pune Court, and inappropriately handed over a copy of suit to the media first, without even servicing the suit on defendants, or even before the matter is admitted for hearing in the court. This itself shows malicious intent of petitioners, which is to defame and tarnish the image of Shri Baba Kalyani, his family and the Group.
As and when the suit is served on us, we will defend our position before the court of law, including initiating appropriate civil/criminal defamation proceedings for tarnishing the image of Mr. Kalyani, his family and the Group.”
Current Case
The legal proceedings commenced by the duo underscore the lineage of these assets, tracing their origins to the establishment of businesses and investments under the guidance of Annappa Kalyani, the patriarch of the joint family, the report added.
As per the plaintiffs’ contention, all businesses and investments stemming from the core of the joint family are deemed communal properties.
Of significant contention within the dispute are holdings in multiple publicly traded firms and privately owned ventures, collectively representing significant interests across diverse sectors within the Kalyani Group.
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