In a new development in the ongoing legal feud within the Kalyani family, Bharat Forge Chairman Baba Kalyani (75) and his younger brother, Gaurishankar Kalyani (69), are now locked in a court battle over their late mother Sulochana Kalyani’s will, according to The Times of India. Baba has filed a petition in the Pune civil court to probate their mother’s will, dated January 27, 2012, while Gaurishankar has contested it, presenting another will dated December 17, 2022, the report added.
The two wills reportedly detail different plans for distributing Sulochana's estate, which includes properties and shares in the Kalyani Group. The case is set to be heard next month.
This new dispute adds to an ongoing legal conflict between Baba, Gaurishankar, and the children of their sister, Sugandha Hiremath. According to the TOI report, Sugandha's heirs have filed a petition seeking a one-ninth share of the Kalyani family's Hindu Undivided Family (HUF) assets, estimated to be worth between Rs 65,000 and Rs 70,000 crore. Both Baba and Gaurishankar have opposed this claim, arguing that their niece and nephew have no legal entitlement to these holdings.
Sulochana Kalyani, who passed away in February 2023 at the age of 89, left behind a substantial estate that includes real estate properties across Maharashtra, the family residence (Parvati Niwas in Pune), shares in Bharat Forge and Kalyani Forge, as well as gold, diamond jewelry, and fixed deposits. According to the probate petition filed by the executors of the 2012 will, the interest and dividend income from her investments have grown to Rs 25 crore since her death.
The 2012 will divides Sulochana's estate among her three children: Baba, Gaurishankar, and Sugandha. However, it allocates a larger portion, including her stakes in Kalyani Group companies and certain immovable properties, to Baba. Gaurishankar and Sugandha, a director at Hikal, a leading player in the specialty chemicals industry, were left with a portion of the properties, jewelry, and other assets.
Gaurishankar has accused Baba of using "coercion and undue influence" to secure the 2012 will. In court, he pointed to a more recent affidavit, dated December 9, 2022, in which Sulochana allegedly revoked all prior wills and declared her intention to pass her estate to Gaurishankar and his family. He has also accused Baba of attempting to "usurp" the properties intended for him.
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