Hiremath claims a third of Kalyani family's fortune

There's a twist in the feud between Babasaheb Kalyani, the billionaire promoter of Kalyani group, and his sister Sugandha Hiremath.

- Nehal Chaliawala & Neha Joshi

In a recent court filing, Hiremath has laid claim to a third of all Kalyani family assets, including shares of listed group companies such as Bharat Forge and Kalyani Steels, and private assets like land, real estate and jewellery.

In the petition, filed on 28 September before the Pune Civil Court that is not public and that Mint has seen, Hiremath claimed she recently came to know of a Kalyani Hindu Undivided Family (HUF) that funded the creation of all the group's businesses that exist today including group flagship Bharat Forge.

The Kalyani HUF has existed since the time of her grandfather Annappa Narayan Kalyani, she said in her petition.

Thus, she argues all assets of the Kalyani Group today belong to this HUF, of which she has claimed a third. Listed Kalyani group companies have a combined market capitalization of over ₹70,000 crore.