Kalyani Family Feud Intensifies with Revelation of New Will of Sulochana Kalyani: Report

Moneylife Digital Team 16 September 2024

Economy & Nation

In a new twist to the Kalyani family feud, a court affidavit filed two years ago, revealed that Sulochana Kalyani, the mother of Baba Kalyani, chief of Bharat Forge Ltd, his brother Gaurishanker and sister Sugandha Hiremath, has gifted much of the family wealth to her younger son, Gaurishankar, says a report from Mint.

Gaurishankar Kalyani has filed an affidavit in the Pune Civil Court challenging the execution of his late mother Sulochana Kalyani's 2012 Will.

According to the Mint report, the Kalyani family feud has so far pitted Sugandha Hiremath against her brothers Baba and Gaurishankar Kalyani. "But a two-year-old will filed by their mother, Sulochana Kalyani, three months before she passed opens the possibility of new claims and friction. This is in sharp contrast with Baba Kalyani's claims over the family wealth."

The affidavit, a copy of which has been reviewed by the newspaper, also alleges that the Bharat Forge chief "took away a large number of assets from his ageing father, Neelkanth Kalyani in the 1990s and instigated his mother Sulochan to file cases against Gaurishankar and family."

"The affidavit filed in a Pune court by Sulochana Kalyani in December 2022, three months before she passed, states that between 1992 and 1994, Baba Kalyani took control of several family-run companies, including Bharat Forge and Kalyani Steels Ltd from his father," the report says.

"This made Neelkanth and Sulochana Kalyani decide to give control of the Hiremath family-promoted pharmaceutical company Hikal Ltd, which is at the centre of the Kalyani family dispute, to their daughter Sugandha Hiremath. Then in 2007, the parents devided to gift certain assets of the family trusts to Gaurishankar Kalyani and his family," the report says, quoting the affidavit.

In a statement, a spokesperson for Baba Kalyani said the issue of Sulochana Kalyani's Will is sub-judice. "The allegations and contentions in Late Sulochana Kalyani's affidavit are incorrect and denied as produced by Gaurishankar Kalyani. Mr (Baba) Kalyani will appropriately represent his case before the Pune district court," the spokesperson says.

Earlier in March, Sameer Jai Hiremath and Pallavi Anish Swadi, the nephew and niece of industrialist Baba Kalyani, have filed a petition seeking their share in the Kalyani Hindu undivided family (HUF) properties, including stakes in various listed and private companies held under the Kalyani group. (Read: Nephew and Niece Sue Baba Kalyani for Share in Family Assets: Report)

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Comments

User

suketu

1 year ago

forged will is very prevalent once the person dies via predated stamp paper and cannot be questioned once the person dies as signature also is forged.It is better not to make a will and transfer all assets while one is alive to children to avoid fraudsters from harassing yr next generation after yr death