Mumbai: In a bid to bring a two‑decade‑old family dispute closer to resolution, the Bombay High Court on Friday suggested that the warring siblings Babasaheb Kalyani, Sugandha Hiremath, and Gaurishankar Kalyani should consider mediation not only for the instant suit but for all related claims arising from the Hindu Undivided Family (HUF) matter.
The three siblings and their children have been fighting bitter legal battles on multiple fronts for several years now. At stake is ancestral wealth with land spanning entire villages, jewellery weighing in kilograms, and promoter stakes in listed companies including flagship Bharat Forge Ltd. Put together, the assets are worth upwards of ₹1 trillion.
Shares of settled 0.7% lower at ₹1,724.50 apiece on the BSE on Friday.
Justice Rajesh Patil made the suggestion while hearing an interim application challenging the maintainability of a suit filed by Sugandha Hiremath to enforce a 1994 family settlement agreement.
The counsels for Baba Kalyani and Gaurishankar Kalyani sought time to seek instructions from their clients on the mediation process. The counsel for Hiremath indicated their willingness to settle the dispute through mediation.
If the parties agree, this would be a second attempt at mediation after the family tried taking the route in 2024, but failed to reach an agreement.
When contacted, a spokesperson for said that she was willing to attempt mediation.
“I have always believed that family matters are best resolved within the family, and it has been deeply distressing for me to see our private issues play out so publicly,” Hiremath said in her statement to Mint through her spokesperson.
“This is not just a legal dispute for me, it carries a significant emotional toll, as it would for anyone in such circumstances. I have consistently hoped that all of us, as siblings, can come together to find an amicable resolution, which I truly believe is what our parents would have wanted, rather than a prolonged public battle,” she further said.
A spokesperson for Baba Kalyani did not immediately respond to Mint’s request for comment. Gaurishankar Kalyani could not immediately be reached for comment.
This is not the only ongoing legal dispute between the siblings. They also have concurrent cases ongoing before a Pune civil court. In September 2024, Hiremath filed a petition before the Pune Civil Court claiming there existed a Kalyani Hindu Undivided Family (HUF) that funded the creation of all the group’s businesses that exist today, including group flagship . She has argued that since the seed capital came from this HUF, all the assets of the Kalyani Group today belong to it, of which she has claimed a third.
Gaurishankar Kalyani also submitted documents in the Pune court in November 2024 to claim that a Kalyani HUF exists, contradicting elder brother Baba Kalyani’s claims.
Meanwhile, in March 2024, Hiremath’s children moved court against their mother and uncles seeking one-ninth of the Kalyani family’s assets.