Chairman of Kalyani Group Baba N Kalyani
Credit: DH Photo
New Delhi: 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.