Shareholders of Hikal Ltd have approved the reappointment of Sugandha Hiremath on the board, who was to retire by rotation but upon being eligible, offered herself for reappointment.
Hikal informed exchanges that 50.6 percent votes from promoter entities backed Hiremath's re-appointment, while 49.4 percent votes were polled against the resolution.
Hikal is going through a tussle between two promoter groups - Hiremaths who own 34.84 per cent stake and Baba Kalyani-led faction in control of 34.01 per cent of the pharma and crop protection company.
According to a recent 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 65,000-70,000 crore. Both Baba and younger brother Gaurishankar Kalyani have opposed this claim, arguing that their niece and nephew have no legal entitlement to these holdings.
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