E-Paper
Family members urge court to stop industrialist Baba Kalyani from alienating property
The siblings in their suit urged the court to restrain the defendants from ‘dealing with or in any manner disposing of through sale, transfer, delivery of possession or from creating any third-party rights in the properties of the HUF
Nephew Sameer Hiremath and niece Pallavi Swadi during a hearing on Monday urged the Pune court not to allow their businessman uncle Baba Kalyani to sell family assets.
The court has asked Kalyani to file say by May 9.
The siblings in their suit urged the court to restrain the defendants from ‘dealing with or in any manner disposing of through sale, transfer, delivery of possession or from creating any third-party rights in the properties of the HUF’.
The duo through their counsel further informed the court that ‘pending the hearing and final disposal of this suit, it is just and expedient to appoint a court receiver to safeguard the properties which are admittedly large in number, of the HUF.’
The siblings’ counsel Advocate Shailendra Aglawe moved an application seeking ad interim relief.
The application stated that the defendants have received suit summons and notices. However, they are delaying the filing of their written statement, for reasons best known to them, the counsel stated. The application also stated that defendants might take advantage of summer break and try to dispose of assets owned by HUF.
Hence, they should be restrained from dealing with them in any manner. After the court heard the siblings’ side, the defendant’s counsel stated they would file their claim by May 9.
The siblings in their original suit filed in Pune court had contended that all the property under the Kalyani Group is not owned by an individual member but by the joint family.
The petitioners also demanded one-ninth of the family estate including stakes in Bharat Forge and Kalyani Steel as their share. The suit has also been filed against five other family members, including their mother Sugandha Hiremath, her brother Gaurishankar Kalyani, his children - Sheetal Kalyani, Viraj Kalyani, and Baba’s son Amit Kalyani.
The siblings have listed several assets including private limited companies, firms, proprietorship firms, shares of other companies, immovable assets, bank accounts and properties as part of the assets owned by the undivided family.
They have stated that the Kalyani family owns and controls valuable publicly listed companies and private companies and Trusts which include Bharat Forge Ltd., Kalyani Steels Limited, and Kalyani Consultants Private Limited, among others. They have claimed their uncle, ‘alone does not and cannot have a right to the same’ while seeking the partition.
