No power of attorney was executed by the late Sulochana Kalyani in favour of her son Baba Kalyani, chairman of Kalyani Group, and he has nothing to do with any of the litigations that his mother had initiated during her lifetime, the group said on Monday.
A spokesperson of the group denied allegations that Baba had exerted undue influence on his mother, when she had made her will in 2012. Claims regarding a power of attorney executed by Sulochana Kalyani in favour of Baba have also been refuted.
The spokesperson called it a misinformation campaign, designed by interested parties to malign the image of Baba Kalyani, his family members and companies he owns.
“Baba Kalyani will appropriately represent his case before the Pune District Court,” the spokesperson said in a statement. Late SN 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.
Gaurishankar, brother of Baba Kalyani, has contested the will dated January 2012 that has been moved for probate by executors, Madan Umakant Takale and Shrikrishna Kiran Adivarekar. This was done on February 8, 2024. The hearing for this case is scheduled for October 9, 2024. Sulochana passed away in February 2023.
Gaurishankar’s affidavit dated July 15, 2024 claimed that his mother had made another will on December 9, 2022. Subsequently, on August 3, 2024, Viraj Kalyani, Gaurishankar’s son, moved for probate of Sulochana’s will in the Pune court. This case comes up for hearing on September 23, 2024.
Gaurishankar’s affidavit says Sulochana accused Baba Kalyani of taking away most of the family wealth, leaving his parents with a small portion. “Between 1992 and 1994, Baba took away the control of several companies, including BFL (Bharat Forge) and KSL (Kalyani Steels), from my husband. After 1994, my husband and I were left with only a small portion of the wealth generated by my husband,” the affidavit, which was signed three months before Sulochana passed away, said.
The claims made in an affidavit of the late Sulochana Kalyani, as produced by Gaurishankar, were fabricated, incorrect and denied, the spokesperson said.
The spokesperson drew attention to a cross-appeal filed by Gaurishankar before the Bombay High Court with regard to an order passed by the Company Law Board dated May 18, 2015. The high court on October 7, 2015 dismissed the proceedings against Baba Kalyani.
From: financialexpress
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