The inability to share wealth and power amicably among siblings, and within families, is a universal problem. Globally, a quick transition from family-/individual-owned businesses to professional management and fear of shareholder lawsuits, especially by activist shareholders, have usually contained the problem.
A new twist in the legal battle between Bharat Forge CMD Baba Kalyani and his sister Sugandha Hiremath for a stake in Hikal continues is Gaurishankar, who is required to transfer his 3% stake in Bharat Forge to Baba after their parent s demise. However, this would also mean Baba has to give up a 34% stake in Hikal to his sister.
India Business News: MUMBAI: As Bharat Forge CMD Baba Kalyani and his sister, Sugandha Hiremath, battle over the existence of a 'family arrangement' which is crucial to th.
When the business family proliferates across generations, ownership and control of business enterprises is fraught with contentious claims and goes well beyond a mere claim to a share of the property.
BF Investment (BFIL) and Kalyani Investment Company (KICL) have accused Hikal of making "entirely inaccurate and misleading" disclosure to the stock exchanges, and told the exchanges that they are not a party to any family arrangement concerning equity shares held by them in Hikal.