Hikal's future is at stake due to promoters, says InGovern
Business Standard|May 15, 2023
The infighting between the two promoters of HikalBaba Kalyani and sister Sugandha Hiremath- has put the company's growth at stake, InGovern has said in a note. The corporate governance firm has called for a change in the management and an overhaul of its board to protect the interest of minority shareholders, who own almost a third of the specialty chemicals company.
SAMIE MODAK
Hikal's future is at stake due to promoters, says InGovern

The Kalyani and Hiremath families are mired in a legal dispute, with the latter seeking transfer of ownership of shares held by the Kalyani group, citing nearly three-decade-old family arrangement. The dispute is being heard by the Bombay High Court.

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