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SC picks mediator for Kalyani family assets dispute
Times of India··14 Jul
The Supreme Court appointed former judge Justice L. Nageswara Rao to mediate the long-running dispute between industrialist Baba Kalyani and his sister Sugandha Hiremath over assets and shareholdings valued at more than Rs 1 lakh crore, including Hikal shares. The bench gave the mediation process two weeks to make progress before the matter is due to come back before court.
Prism
What It Means For You
- A major industrial family dispute shifts toward court-backed mediation once again.
- Investors in Hikal and related firms watch for signs of resolution.
- Prior failed mediation attempts add uncertainty to the fresh process.
What's Happening
- Supreme Court appointed Justice L. Nageswara Rao to mediate the Kalyani dispute.
- Bombay High Court proceedings on a dismissal plea are paused meanwhile.
- Mediation has two weeks before the matter returns to court.
Kalyani Family Feud
- The dispute involves assets and shareholdings worth over Rs 1 lakh crore.
- Sugandha Hiremath's 2023 suit cites an alleged 1994 family arrangement.
- Earlier mediation attempts, including one in Pune, had failed previously.
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