Next hearing in Kalyani family's court battle on Dec 2

Baba Kalyani's niece wants one-ninth share from Kalyani family assets

Sheetal Kalyani, niece of Baba Kalyani, the chairman of Bharat Forge, the world's largest in the segment, filed her replies at a court here on Thursday regarding the dispute on partitioning the family's assets.

"There were some objections raised by the defendants, Baba Kalyani and Sulochana Kalyani (Sheetal's grandmother)," explained her counsel, Shrikant Kanetkar, without divulging details.

Sheetal 27, is the daughter of Gaurishankar Kalyani and grand-daughter of Neelkanth Kalyani. She has filed a suit against nine members of the family, including her parents, brother Viraj and uncle Baba Kalyani, along with 174 business entities run by the family. She is demanding one-ninth share of the family properties.

Several lawyers stated that though she has named everyone in the family, the case is primarily against Baba Kalyani and Sulochana Kalyani.

Sources say Sheetal's parents actually support her demand. "The parents were always supporting her but since the case is against the Hindu Undivided Family (HUF), her parents are also defendants in this case," was a source's explanation.

On Thursday afternoon, a battery of lawyers from both sides had argued before the court over a delay in counter-claims over the division of assets and properties of the Kalyani group. Counsels representing Baba Kalyani said the court could not condone the delay in doling so in support of Sheetal's claim.

The judge, V S Malkalpatte Reddy, ordered the parties to file their say in the matter and posted the case for further hearing on December 2.

Mumbai-based Wadia Ghandy & Co, one of the oldest law firms in the country, is representing Baba Kalyani. They have enlisted lawyers Ashok Hingne, Gautam Karnik and Balchandra Pathak to fight the legal battle.

In an earlier reply to Business Standard's questions regarding the case, an e-mail from Baba Kalyani's office said: "We have vehemently denied all allegations before the court in the subject matter. The corporate entities involved have also dealt with issues before the court in the matter. The matter is sub judice."

Sheetal Kalyani claims Baba Kalyani has taken control over several family assets. Her petition contends several investments owned by the joint family have been transferred to her uncle and his family members. And, that when these were done, Sheetal and her brother, Viraj, were minors. Since the assets and properties are part of a HUF, they are equal shareholders. She also claims that shares of Bharat Forge and Kalyani Steels held by the Neelkanth Annasaheb Kalyani HUF were transferred to her uncle.