In addition to this, the Hiremath family has also sought to restrain Kalyani from acting in furtherance of the applications for pre-dealing approval dated March 13, 2023. The CMD of Bharat Forge, through Kalyani Investment Company and BF Investment, owns 34% in Hikal, which had a market capitalisation of Rs 3,782 crore as on Thursday. The family arrangement requires Kalyani to transfer his stake in Hikal to the Hiremath family. In a regulatory filing, Hikal said Sugandha and her husband Jaidev Hiremath (Hikal’s founder and executive chairman), via a legal suit, are seeking specific performance of obligations from Kalyani following a family arrangement between him and his parents. Kalyani, who is the chairman and managing director of Bharat Forge, is related to the Hiremath family (his sister is Sugandha Hiremath, a director at Hikal). ![]() ![]() Mumbai: The Hiremath family, co-promoter of Hikal, a manufacturer of medicines and crop protection products, has moved the Bombay high court against Baba Kalyani, also a co-promoter of the company, seeking performance of “specific” obligations.
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