In the latest twist to what has up to now been a civilized legal saga, Bharat Forge MD Baba Kalyani now faces a fresh lawsuit from both his nephew and niece. This lawsuit not only aims at splitting up the family assets, but also highlights divisions brewing within one of India’s oldest business families.
In their eager quest for a share of the family fortunes, the nephew and niece have had their eyes on the assets of various listed companies, as well as stakes in banks (also ‘privately’ held entities). These would form what certainly looks like being a substantial component of any court-determined entitlement to their stake in Kalyani Group property.
All these listed entities will be covered as part of the claim –
Bharat Forge
Kalyani Steel
BF investments
Automotive axles
Kalyani Investments
Since all these businesses were commenced and the investments were made from the nucleus of the Joint Family headed by Shri. Annappa Kalyani, all these businesses and investments constituted the properties of the Joint Family.
