Key Points
Business tycoon, Baba Kalyani, who is on the board of over seven companies might have to let go of his highly disputed Hikal seat as the battle between the siblings over the 30-year-old family arrangement still has a long way to go, reported ToI...
As he turns 75 next month, Kalyani will look forward to his re-appointment as Hikals non-executive, non-independent director at the companys ongoing postal ballot process, which will end on December 24..
However, the process would not be an easy sail due to the already set conditions in place which require the passage of a special resolution if the director turns 75 years old...
The fate of Kalyani will lie in the hands of retail and institutional investors as his sibling Sugandha, who owns about 35 per cent of the fertiliser company, will most likely vote against Babas reappointment owing to the intense fight that the two engaged in...
But he will still have his son, Bharat Forges deputy MD Amit Kalyani and Babas long-time associate Shrikrishna Adivarekar on the board of Hikal, which was set up by Sugandhas husband Jaidev Hiremath...
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