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India Today
a day ago
- Business
- India Today
Sugandha Hiremath accuses Baba Kalyani and Gaurishankar of usurping family assets
The dispute between industrialists Baba Kalyani and Gaurishankar with their sister Sugandha Hiremath has escalated further with the sister filing an affidavit before a Pune court alleging that her brothers were secretly transferring family assets and properties in their name. In the affidavit filed before the court on Friday, June 27, she detailed two instances of her younger brother Gaurishankar 'usurping 'family assets in Karad. advertisementSugandha provided evidence before court mentioning how her younger sibling used his goodwill with their father, Neelkanth Kalyani, to obtain a power of attorney (POA) to manage his assets in Karad. The POA was meant only for managing the properties located in prime localities of Karad. However, while executing the document, the same was amended to grant power of gifting and transferring. Moreover, the name of a Gaurishankar group company's employee was also included in the POA. This was in 2008. Using the document, two massive properties were then transferred to Gaurishankar. India Today accessed the affidavit filed by Sugandha Hiremath at Pune court. It reveals that as soon as Neelkanth Kalyani found out about the 'fraud' in 2009, he revoked the POA and also moved to court. The two assets, according to Sugandha, were 'illegally and wrongfully' transferred exclusively to Gaurishankar on the basis of a Power of Attorney which was 'dishonestly and fraudulently' obtained from Dr Neelkanth To back her claim, Sugandha has attached a statement filed by Prakash Honrao, the employee of Gaurishankar's group company, in Karad court. In his statement, Honrao admitted in court that he was forced to accept the POA in his name and subsequently to transfer the properties using the document. This, according to him, was done under coercion from Gaurishankar's wife Rohini. He states that since he was in the employment of Gaurishankar and Rohini, he had no cases pertaining to the two properties filed by Dr Neelkanth Kalyani are still pending in Karad court.'On the one hand, my brothers deny the existence of the joint family nucleus as well as the status of the properties of the Kalyani Family HUF and in the same breath, both my brothers - Baba and Gaurishankar - are continuing to clandestinely transfer HUF properties to themselves by resorting to all sorts of nefarious means and without maintaining any record of such transfers,' states Sugandha's recent affidavit in Pune court, which is hearing her partition had filed the suit earlier this year seeking her share of family wealth. She had sought an injunction restraining her brothers from alienating any of the family assets, which include several properties across the country and shares of 250 companies. She has also sought that the court order her brothers to reveal details of all the family properties. The court in March 2025, pursuant to hearing this application, was of the view that, given relations between the parties, the nature of the suit, suit property and pendency of other proceedings, it would be appropriate to hear all the parties before passing any order. advertisementRefusing to give up, she initiated an independent search for the family's wealth and found out about Karad properties, which were 'fraudulently' and 'illegally' transferred to Gaurishankar. If she is to be believed, there are several such instances of Baba Kalyani 'usurping' family case came up for hearing on June 27 and Sugandha's counsel argued before Civil Judge, Senior Division, VI Bhandari that Gaurishankar had concealed information about the properties in Karad and ongoing disputes in courts there. With fresh evidence, she has now asked the court to consider her plea to restrain Gaurishankar and Baba Kalyani from alienating any assets, including promoter shares of multiple Kalyani group companies, till the partition suit is partition suit is now slated to come up for hearing on July filing a barrage of cases, Sugandha Hiremath has failed to secure a single order in her favour from the courts, evidencing the falsehood of her claims," said Baba Kalyani's spokesperson on the allegations made by Sugandha. "Sugandha Hiremath has therefore resorted to trial by the media. The allegations against Baba Kalyani are baseless and malicious and are categorically denied," the spokesperson added. - EndsMust Watch
The Hindu
a day ago
- Business
- The Hindu
Kalyani family dispute: Sister Sugandha Hiremath accuses younger brother Gaurishankar of transferring family assets
In a fresh development concerning the Kalyani family property dispute, Mumbai-based Sugandha Hiremath has alleged that her brothers have been 'clandestinely' transferring family assets. In her recent affidavit filed before the court, she has detailed two instances of her younger brother Gaurishankar Kalyani 'usurping' family assets in Karad. A message to sent to Mr. Kalyani's family seeking a response remained unanswered. Ms. Hiremsth has detailed how her younger brother used his goodwill with their father Dr. Neelkanth Kalyani into obtaining a Power of Attorney (POA) to manage his assets in Karad. The POA was meant only for managing the properties located in prime localities of Karad. However, while executing the document, the same was amended to grant power of 'gifting and transferring.' Moreover, name of a Gaurishankar group company's employee was also included in the POA in 2008. Using the document, two large properties were then transferred to Mr. Kalyani. Ms. Hiremath's affidavit details that as soon as Dr. Neelkanth Kalyani found out about the 'fraud' in 2009, he revoked the POA and also moved court. According to Ms. Hiremath, the two properties were 'illegally and wrongfully' transferred exclusively to Mr. Kalyani on the basis of a Power of Attorney which was 'dishonestly and fraudulently' obtained from Dr. Neelkanth Kalyani. To back her claim, she has attached a statement filed by Prakash Honrao, the employee of Gaurishankar's group company, in Karad court. In his statement, Mr. Honrao admitted in court that he was forced to accept the POA in his name and subsequently to transfer the properties using the document. This, according to him, was done under coercion from Mr. Kalyani's wife Ms. Rohini. He stated that since he was an employment of Mr. Kalyani and Ms. Rohini, he had no choice. The cases relating to the two properties filed by Dr. Neelkanth Kalyani are still pending in Karad court. 'On the one hand, my brothers deny the existence of the joint family nucleus as well the status of the properties of the Kalyani Family HUF, and in the same breath, both my brothers — Baba and Gaurishankar — are continuing to clandestinely transfer HUF properties to themselves by resorting to all sorts of nefarious means, and without maintaining any record of such transfers,' Ms. Hiremath said in her affidavit. She had filed a case earlier this year seeking her share in family wealth. She had sought injunction restraining her brothers from alienating any of the family assets which include several properties across the country and shares of about 250 companies. She has also sought that the court orders her brothers to reveal details of all the family properties. With fresh evidence, she has now asked the court to consider her plea to restrain her brothers Mr. Kalyani and Mr. Baba Kalyani from alienating any assets, including promoter shares of multiple Kalyani group companies, till the partition suit is decided. According to a statement issued on behalf of Baba Kalyani, 'Despite filing a barrage of cases, Sugandha Hiremath has failed to secure a single order in her favour from the courts evidencing the falsehood of her claims.' 'Sugandha Hiremath has therefore resorted to trial by media. The allegations against Mr. Baba Kalyani are baseless and malicious and are categorically denied,' the statement added.
