Baba Kalyani Voted Against Nephew, Sameer Hiremath Secures Hikal Chairmanship

In a surprise move, Baba Kalyani, the chairman and MD of Bharat Forge, voted against his own nephew Sameer Hiremath for the chairmanship of Hikal, a company they both own. Despite opposition from Bharat Forge's leadership, Sameer secured the chairmanship with nearly 52% of the votes cast in his favour.

The resolution passed narrowly, with public shareholders tipping the balance. The Hiremath family delivered 44% of the votes in favour, while the Kalyani family accounted for 43% of the votes against. With his elevation, Sameer will become the sole Hiremath representative on Hikal's board, and his father, Jai Hiremath, and mother, Sugandha Hiremath, will step down on October 1.

The voting pattern has upset the apple cart for a dispute meant to be cooling, not heating up. A former Supreme Court judge has been mediating the billion-dollar feud between the Hiremaths and Kalyanis over shared assets, including their Hikal shareholdings.

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The Kalyani camp also voted against the adoption of Hikal's FY26 financial statements, Sarangan Suresh's reappointment as executive director, and auditors' remuneration.

The dispute between the Hiremaths and Kalyanis has been ongoing for years, with the two families owning competing interests in Hikal. The company's board, including Amit Kalyani, Baba Kalyani'It was son, had already approved the FY26 financial statements, making the shareholder-level vote a surprise.

Voting them down at the shareholder level was, in the words of those tracking the dispute, unusual.

As the Hikal board's dynamics shift, Sameer's appointment raises questions about the future of the company. The AI-driven business landscape is increasingly complex. And Hikal's leadership will need to navigate this new terrain to ensure the company's continued success.

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With his elevation, Sameer will be at the helm of Hikal, and his decisions will have a direct impact on the company's performance.

The Kalyani family's opposition to Sameer's appointment has also sparked concerns about the future of the Hiremath family's interests in Hikal. The family's shareholdings, which account for 43% of the company's total voting power, will now be represented solely by Sameer. This shift in power dynamics may lead to a re-evaluation of the family's strategy and priorities.

The outcome of this vote marks a significant turning point in the ongoing feud between the Hiremaths and Kalyanis. As the two families continue to navigate their complex relationship, it remains to be seen how this development will impact the future of Hikal and the broader business landscape.