The promoters of specialty chemical firm Hikal Ltd, Jaidev Hiremath, and Sugandha Hiremath, filed a lawsuit in Bombay High Court against the BNK GroupBNK Group, seeking performance of obligations cast on BNK after family arrangement Baba Kalyani and Kalyani Group companies are known as BNK Group.
Sugandha Hiremath is the sister of Baba Kalyani, CMD of Bharat Forge Ltd.
The Hiremath Family is looking for specific performance of obligations cast on BNK pursuant to a family arrangement entered between BNK and his parents, whereby the shares of the Company held by KICL and BFIL are required to be transferred to the Hiremath Family, according to Hikal in a stock exchange filing on Thursday.
There are no monetary claims against the Company in the above-mentioned suit. The Company does not expect any financial implications arising due to compensation, penalty, etc. Hikal said that it was in relation to the abovementioned Suit.
The company's scrip on the BSE was trading flat at Rs 307.5 at the time of 1450 hours.