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Fight over control of Hikal: Hiremath, family move HC against Baba Kalyani

Hikal said it did not expect any financial implications arising due to compensation, penalty, etc, due to the suit

Hikal
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Hikal shares closed flat at Rs 307 a share, giving it a total market valuation of Rs 3,800 crore

Dev Chatterjee Mumbai
A family fight over the control of chemical firm Hikal has erupted with Sugandha Hiremath and her husband moving the Bombay High Court against her elder brother Baba Kalyani and family.

The Hiremaths have asked the court to implement a family settlement of 1994 under which the Baba Kalyani faction has to sell their entire stake to the Hiremaths.

Both factions own 34 per cent stake each in the Rs 2,000-crore revenue company

In a filing to the stock exchanges, Hikal said the Hiremath family moved the courts against Babasaheb Kalyani, chairman and managing director of Bharat Forge, their investment companies,

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First Published: Mar 23 2023 | 8:36 PM IST

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