By Bl Chennai Bureau

Copyright thehindubusinessline

All the resolutions including the reappointment of Baba Kayani’s son Amit Kalyani as non-executive, non-independent director of Hikal sailed through with most shareholders voting in favour on Tuesday.

The proposal to reappoint Amit received 99 per cent vote ‘in favour’ implying that the Hiremath family has voted for the resolution.

In all, 237 members accounting for 9.53 crore votes were in favour of Amit’s reappointment while 35 members representing 3.91 lakh votes was ‘against’ the proposal.

Similarly, other resolutions including adoption of financial accounts, payment of dividend, appointment of Secretarial Auditors, remuneration payable to Cost Auditors of the company were approved.

Currently, Baba and his family own 34 per cent in Hikal, while Hiremaths hold 35 per cent stake in the company.

Hikal was founded by Jaidev Hiremath husband of Sugandha, sister of Baba Kalyani. The seed fund for starting the business and manufacturing facility in Maharashtra was provided by Baba’s father. Hikal shares were issued to Surajmukhi, an entity owned by their father, with the understanding that the shares would later be transferred to the Hiremaths.

However, Sugandha has sued her brother Baba for going back on their father’s wish and seeking a share of the entire wealth of the family. Baba has rejected the claim that such a share-transfer clause existed. The next hearing in Bombay High Court is scheduled in October.

Published on September 23, 2025