Baba Kalyani Denies Power of Attorney Claims: Kalyani Group
By Rediff Money Desk, New Delhi Sep 16, 2024 17:04
Kalyani Group refutes allegations that Baba Kalyani coerced his mother and exercised undue influence, stating that no power of attorney was executed in his favor. The group says it will appropriately represent its case in Pune District Court.
New Delhi, Sep 16 (PTI) No power of attorney was executed by late S N Kalyani in favour of her son Kalyani Group Chairman, Baba Kalyani, and he has nothing to do with any of the litigations that his mother had initiated during her lifetime, the group said on Monday.
Refuting reports that alleged that Baba Kalyani coerced his mother and exercised undue influence, a group spokesperson said the claims made in an affidavit of late S N Kalyani as produced by Gaurishankar Kalyani, Baba Kalyani's brother "are fabricated, incorrect and denied".
"Baba Kalyani will appropriately represent his case before the Pune District Court," the spokesperson said in a statement.
Late S N Kalyani and Gaurishankar Kalyani (and his family) have been staying at their residence Parvti Nivas, when she made her will in 2012. Hence, all allegations insinuating that Baba Kalyani coerced her and exercised undue influence are incorrect and denied, it added.
The spokesperson alleged vested interests of spreading information with "several factual discrepancies" to wrongly portray that Baba Kalyani made a probate application in the Pune District Court.
"The fact is that Madan Takale and S K Adivrekar, (are) executors of S N Kalyani's will of 2012," it said.
According to media reports, Gaurishankar Kalyani has filed an affidavit in the Pune Civil Court challenging the execution of their late mother Sulochana Kalyani's 2012 will while producing a new will dated December 9, 2022 that has several serious accusations against Baba Kalyani, including usurping most of the family wealth.
The over USD 3.0 billion Kalyani Group has interest ranging from engineering steel, automotive, industrial, renewable energy, urban infrastructure and specialty chemicals.
It has manufacturing footprint across India, Germany, Sweden, and China and owns companies, including Bharat Forge, Hikal Ltd, Kalyani Technoforge, Automotive Axles, Kalyani Global, and Synise Technologies.
Refuting reports that alleged that Baba Kalyani coerced his mother and exercised undue influence, a group spokesperson said the claims made in an affidavit of late S N Kalyani as produced by Gaurishankar Kalyani, Baba Kalyani's brother "are fabricated, incorrect and denied".
"Baba Kalyani will appropriately represent his case before the Pune District Court," the spokesperson said in a statement.
Late S N Kalyani and Gaurishankar Kalyani (and his family) have been staying at their residence Parvti Nivas, when she made her will in 2012. Hence, all allegations insinuating that Baba Kalyani coerced her and exercised undue influence are incorrect and denied, it added.
The spokesperson alleged vested interests of spreading information with "several factual discrepancies" to wrongly portray that Baba Kalyani made a probate application in the Pune District Court.
"The fact is that Madan Takale and S K Adivrekar, (are) executors of S N Kalyani's will of 2012," it said.
According to media reports, Gaurishankar Kalyani has filed an affidavit in the Pune Civil Court challenging the execution of their late mother Sulochana Kalyani's 2012 will while producing a new will dated December 9, 2022 that has several serious accusations against Baba Kalyani, including usurping most of the family wealth.
The over USD 3.0 billion Kalyani Group has interest ranging from engineering steel, automotive, industrial, renewable energy, urban infrastructure and specialty chemicals.
It has manufacturing footprint across India, Germany, Sweden, and China and owns companies, including Bharat Forge, Hikal Ltd, Kalyani Technoforge, Automotive Axles, Kalyani Global, and Synise Technologies.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 10.41 (+ 0.48)
- 53727067
- GTL Infrastructure
- 2.41 (+ 4.78)
- 49996392
- Five-Star Business F
- 797.20 ( -1.39)
- 47756593
- Spicejet Ltd.
- 61.84 ( -0.87)
- 37121295
- Reliance Power L
- 44.16 (+ 4.99)
- 36538149
MORE NEWS
Gulf Oil Promoter Sells 4% Stake for Rs 263 Crore
Gulf Oil International Mauritius Inc. sold a 4% stake in Gulf Oil Lubricants India for...
Zaggle Acquires Stakes in Span Across IT &...
Fintech firm Zaggle invests Rs 48 crore in Span Across IT Solutions and Mobileware...
Swiggy Files Updated IPO Papers: Eyes Rs 3,750 Cr
Swiggy files updated IPO papers with Sebi, aiming to raise Rs 3,750 crore through fresh...