BF Investment Limited — Important, 14-01-2025: General Updates

Hikal Ltd's recent disclosure has drawn scrutiny from the Promoter Group members, Mrs. Sugandha Hiremath and Mr. Jai Hiremath, who hold a 2.65% stake in the company. They have challenged the accuracy of the disclosure, asserting it creates a false market for both Hikal Ltd. and BF Investment Ltd. They allege that critical information was omitted, including a letter from the late N. Vaghul, which refutes claims of any family arrangements concerning Hikal shares. Additionally, the Hiremaths are currently involved in a lawsuit regarding shareholding disputes, where BF Investment has clarified it holds shares in an individual capacity and is not connected to the purported arrangements claimed by the Hiremaths. The ongoing legal matter remains unresolved, with the potential for significant implications depending on the outcome. Investors should monitor this situation closely, given its potential impact on share valuations.