Kalyani family feud escalates: Baba Kalyani's sister Sugandha alleges asset grab by younger brother

Time of India

13 hours ago

Pune:
Sugandha Hiremath
, sister of industrialist
Baba Kalyani
, on Friday accused her younger brother
Gaurishankar Kalyani
of usurping ancestral properties in Karad, Maharashtra, as part of an ongoing legal battle over the division of
Kalyani family assets
in a
Pune court
.
In an affidavit, Sugandha claimed she has uncovered evidence that two large family-owned properties in Karad were transferred to Gaurishankar, allegedly using a power of attorney (POA) granted by their late father Neelkanth Kalyani.
The affidavit states that legal disputes over these properties, filed earlier by their father, are still pending in a Karad court.
The allegations are part of a suit filed by Sugandha, her husband Jaidev Hiremath, and their two children, seeking partition of the Kalyani family assets to claim their share of the
Kalyani Hindu Undivided Family
(HUF) assets.
The disputed assets include stakes in
Kalyani group
flagship
Bharat Forge
along with other listed and privately held companies as well as properties across the country. Sugandha has sought an injunction restraining her brothers from alienating any family assets, including promoter shares of about 250 group companies, until the case is resolved. Sha has also sought a directive for both her brothers to disclose the full list of family properties.
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In an earlier hearing in March, the court had observed that, given the family relationships, nature of the suit, and pendency of related proceedings, it would be appropriate to hear all parties before issuing any interim orders.
In Friday's hearing, Sugandha's counsels alleged that Gaurishankar concealed information about the properties in Karad and ongoing disputes in courts there.
The partition suit is now slated to come up for hearing on July 22.
The Pune-based Kalyani Group, led by Baba Kalyani, is a multinational conglomerate with interests in engineering, automotive components, specialty chemicals, and renewable energy.