Baba Kalyani's Niece, Nephew Seek Division Of Family Assets
Due to lack of transparency, the children of Baba Kalyani's sister Sugandha Hiremath is seeking the court to disclose all the assets including immovable and movable properties, shares, and investments
Sameer Hiremath and Pallavi Swadi, grandchildren of Neelkanth Kalyani, a pioneer in the forging industry, have taken legal action against their uncle and Bharat Forge chairman, Baba Kalyani.
They're seeking a Pune civil court to divide the family assets.
What Exactly Are They Asking For?
Seeking transparency, Sameer and Pallavi, children of Baba Kalyani's sister Sugandha Hiremath, demanded disclosures regarding family assets. However, the reluctance to cooperate led them to escalate the matter through legal channels.
While they have meticulously compiled a list of known family assets, they suspect the existence of undisclosed riches.
So, they're asking the court to disclose all the assets, including immovable and movable properties, shares, and investments.
Additionally, as per the petition, they're worried that while this lawsuit is ongoing, the defendants might try to do something with the assets, so they've asked the court to stop them from making any changes to those assets until the case is resolved.
Also, because there are so many assets involved, they're also suggesting that a court-appointed receiver take over managing them temporarily to make sure everything stays intact.
Background Of The Case
Their great-grandfather, Raosaheb Annappa N. Kalyani, was a successful businessman and agriculturist. He managed a large estate and various businesses as the head of a joint Hindu family, which included his first wife Parvati Annappa Kalyani, his second wife Akutai Annappa Kalyani, and his son Dr. Neelkanth Annappa Kalyani. Neelkanth Kalyani participated in these family businesses during his father's lifetime.
After Raosaheb's death, Neelkanth took over as the head of the family and managed its affairs. The family remained a joint Hindu family for taxation purposes.
Neelkanth initiated new businesses using family funds and also executed partial partition deeds between 1974 and 1979, but these didn't end the joint family status, as per the petition copy seen by NDTV Profit.
Neelkanth's health declined by 2011, leading to Baba Kalyani taking over as the head of the family. However, disputes arose due to his management style, resulting in litigation among family members, the petition alleges.