Nephew, niece don’t have any locus standi to say belongings: Kalyani

MUMBAI: Bharat Forge chairman Baba Kalyani has mentioned that the household asset cut up petition filed by his nephew and niece is an “try to usurp rights” in properties belonging to him. He additionally mentioned that the properties and companies managed by him will not be a part of “any alleged Kalyani joint household property“.
Baba’s nephew and niece Sameer Hiremath and Pallavi Swadi have sought a division of the Kalyani household property, demanding a one-ninth share throughout listed firms comparable to Bharat Forge and Kalyani Metal in addition to immovable properties in Pune and elsewhere in Maharashtra.
Baba mentioned Sameer and Pallavi – kids of his sister Sugandha Hiremath, who can also be a director of Hikal – will not be coparceners of the Kalyani joint household unit. Subsequently, they’ve “no locus standi to file a go well with” looking for partition of any unit shaped throughout the Kalyani household.
Legislation permits Sugandha to be a coparcener within the Kalyani joint household property nevertheless it does not prolong the identical to her kids, mentioned Baba in his assertion filed earlier than the Pune civil courtroom. On Monday, the siblings had requested the courtroom to halt their uncle from disposing of the household belongings.
Baba’s assertion mentioned that his grandfather Annappa Kalyani was not a rich businessman nor did he go away behind a big property as alleged by his niblings. He left some agricultural lands and residential homes, which after discharging money owed, have been distributed amongst his authorized heirs together with Sugandha. However, earlier than his demise in Feb 1964, he had gifted Rs 2 lakh to his son Neelkanth Kalyani (Baba’s father).
Utilizing the gifted cash and his financial savings, Neelkanth began numerous companies. He subsequently acquired sure belongings by the earnings of the companies and grew the Kalyani enterprise. “There was no HUF shaped throughout the lifetime of Annappa,” Baba mentioned.
However, Neelkanth had shaped a HUF and was the karta of it. Nevertheless, no enterprise/investments was began/made because the karta of any HUF. “These have been began/run of their particular person capability and with none assist from the joint household assets,” mentioned the chairman of Bharat Forge.
Subsequently, Baba (75) took the Kalyani Group to larger heights. He “constructed numerous firms on his personal advantage and expertise, and together with his personal private investments”. Therefore, a “informal reference to numerous properties talked about within the go well with and a fishing enquiry concerning the different alleged properties of the alleged Kalyani HUF is nothing however an unwell motivated and malicious litigation filed by the plaintiffs for harassing members of the Kalyani household,” learn Baba’s assertion.