MUMBAI: In a fresh twist to a legal battle involving Baba Kalyani and his siblings, the Bharat Forge chairman (75) and his younger brother Gaurishankar Kalyani (69) are now at odds over their late mother Sulochana's will.
Baba has approached the Pune civil court , seeking to probate Sulochana's will dated Jan 27, 2012, while Gaurishankar has contested this, presenting another will dated Dec 17, 2022. Each will outlines a different distribution of their mother's estate, which includes properties and shares in the Kalyani Group . The case is expected to be heard next month.
This dispute adds to the existing legal battle between Baba, Gaurishankar, and their sister Sugandha Hiremath's children, who have filed for a one-ninth share of the Kalyani family's Hindu Undivided Family (HUF) assets, valued between Rs 65,000 and Rs 70,000 crore (see graphic). Baba and Gaurishankar have both sought to dismiss the petition for division of assets, asserting that their nephew and niece have no legal rights to these holdings.
Sulochana, who died in Feb 2023 at the age of 89, left behind a substantial estate including immovable properties across Maharashtra, their family residence - Parvati Niwas - in Pune, shares in Bharat Forge and Kalyani Forge, gold and diamond jewellery, and FDs. According to the probate petition filed by two executors of the 2012 will, including Sulochana's nephew, just the interest and dividend income from her investments have appreciated to Rs 25 crore since her death.
The 2012 will allocates Sulochana's estate to her children: Baba, Gaurishankar, and Sugandha. However, the distribution is unequal, with Baba receiving a larger share like her stakes in Kalyani Group companies, including the flagship Bharat Forge, and immovable properties under Kalyani HUF and jewellery. Gaurishankar and Sugandha, who is a director at Hikal (one of the major speciality chemicals players in the country), have been left with certain properties, jewellery, and other assets.
Gaurishankar has claimed in court that Baba's bid to probate the 2012 will was obtained through "coercion and undue influence". He points to a more recent affidavit of Dec 9, 2022, in which Sulochana allegedly revoked all prior wills, intending her estate to pass to Gaurishankar and his family. He further accused Baba of trying to "usurp" the properties of the "objector".
A spokesperson for Baba stated that the matter relating to the probate of the 2012 will is sub judice before the Pune district court.
"The allegations and contentions in Sulochana's 2022 affidavit are incorrect and denied as produced by Gaurishankar. (Baba) will appropriately represent his case before the court," the spokesperson for Baba said.
Baba has approached the Pune civil court , seeking to probate Sulochana's will dated Jan 27, 2012, while Gaurishankar has contested this, presenting another will dated Dec 17, 2022. Each will outlines a different distribution of their mother's estate, which includes properties and shares in the Kalyani Group . The case is expected to be heard next month.
This dispute adds to the existing legal battle between Baba, Gaurishankar, and their sister Sugandha Hiremath's children, who have filed for a one-ninth share of the Kalyani family's Hindu Undivided Family (HUF) assets, valued between Rs 65,000 and Rs 70,000 crore (see graphic). Baba and Gaurishankar have both sought to dismiss the petition for division of assets, asserting that their nephew and niece have no legal rights to these holdings.
Sulochana, who died in Feb 2023 at the age of 89, left behind a substantial estate including immovable properties across Maharashtra, their family residence - Parvati Niwas - in Pune, shares in Bharat Forge and Kalyani Forge, gold and diamond jewellery, and FDs. According to the probate petition filed by two executors of the 2012 will, including Sulochana's nephew, just the interest and dividend income from her investments have appreciated to Rs 25 crore since her death.
The 2012 will allocates Sulochana's estate to her children: Baba, Gaurishankar, and Sugandha. However, the distribution is unequal, with Baba receiving a larger share like her stakes in Kalyani Group companies, including the flagship Bharat Forge, and immovable properties under Kalyani HUF and jewellery. Gaurishankar and Sugandha, who is a director at Hikal (one of the major speciality chemicals players in the country), have been left with certain properties, jewellery, and other assets.
Gaurishankar has claimed in court that Baba's bid to probate the 2012 will was obtained through "coercion and undue influence". He points to a more recent affidavit of Dec 9, 2022, in which Sulochana allegedly revoked all prior wills, intending her estate to pass to Gaurishankar and his family. He further accused Baba of trying to "usurp" the properties of the "objector".
A spokesperson for Baba stated that the matter relating to the probate of the 2012 will is sub judice before the Pune district court.
"The allegations and contentions in Sulochana's 2022 affidavit are incorrect and denied as produced by Gaurishankar. (Baba) will appropriately represent his case before the court," the spokesperson for Baba said.
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