Bharat Forge head’s nephew, niece move court for share in group assets

PTI

Mumbai, March 27

In a fresh twist to the Kalyani family dispute, industrialist Baba Kalyani’s niece Pallavi Anish Swadi and nephew Sameer Hiremath have moved the Pune District and Session court demanding a share in the group’s assets.

Sameer and Pallavi — the children of Sugandha Hiremath, the younger sister of the Bharat Forge chairman and managing director, filed a civil suit in a Pune District and Session court on March 20, claiming a right in the group assets, saying the group is a Hindu undivided family.

The latest case in the Pune court comes about a year after Sugandha moved the Bombay High Court in March 2023, against Baba Kalyani and the family seeking implementation of a family settlement reached in 1994, under which they were to gain the control of pharma and biotech firm Hikal. Sugandha’s move had come weeks after the death of the group’s matriarch Sulochana Kalyani.

The petition itself admits that they are unaware of the total size of the assets and properties held by the HUF, but some reports pegged the market capitalization of the group’s eight listed companies, including Bharat Forge, at over Rs 69,000 crore.

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