Baba Kalyani, Chairman and Managing Director of Bharat Forge, and his younger brother, Gaurishankar Kalyani, are currently embroiled in a legal battle over their late mother, Sulochana Kalyani’s will. This family dispute has been brought to the Pune civil court, where Baba Kalyani has filed a petition to probate their mother's will, dated January 27, 2012. Meanwhile, Gaurishankar is challenging this, presenting a conflicting will dated December 17, 2022. Both documents outline different plans for distributing their mother’s substantial estate, which includes valuable properties and shares in the Kalyani Group, with the case set to be heard next month.
The Kalyani family dispute has already been heightened by an ongoing legal tussle involving Baba, Gaurishankar, and the heirs of their late sister, Sugandha Hiremath. Her children have staked a claim to a one-ninth share of the Kalyani family’s Hindu Undivided Family (HUF) assets, which are reportedly valued at Rs 65,000 to Rs 70,000 crore. Baba and Gaurishankar have opposed their niece and nephew's claim, arguing that they have no legal entitlement to these assets.
Sulochana Kalyani passed away in February 2023 at the age of 89, leaving behind a sizable estate that includes real estate, shares in Bharat Forge and Kalyani Forge, and other assets such as gold, diamond jewelry, and fixed deposits. Since her passing, the interest and dividend income from her investments have reportedly grown to Rs 25 crore.
Who is Baba Kalyani?
Baba Kalyani, one of India’s leading businessmen, has been at the helm of Bharat Forge since 1972. Born in 1949 to industrialist Neelkanth Kalyani, Baba Kalyani pursued a degree in Mechanical Engineering from the prestigious BITS Pilani and later earned his Master’s degree from MIT, Boston. Under his leadership, Bharat Forge, founded by his father in 1966, has grown into the flagship company of the $3 billion Kalyani Group. Today, the company’s market capitalization stands at Rs 36,300 crore.
Baba Kalyani's achievements have earned him several accolades, including the prestigious Padma Bhushan award in 2008 for his contributions to Indian trade and industry. As of 2023, his net worth is estimated at $2.4 billion, placing him 1217th on Forbes' global billionaires list and 79th among India’s richest. In addition to his business pursuits, Kalyani is also the owner of Bharat FC, a football team, and is married to Sunita B. Kalyani, who serves as director of Kalyani Steels Ltd. The couple has a son, Amit Kalyani, who is actively involved in the family business.
