Kalyani Investment Company Limited — Important, 13-01-2025: General Updates

Kalyani Investment Company has clarified its position regarding recent disclosures made by Hikal Ltd. following a letter from Mrs. Sugandha Hiremath and Mr. Jai Hiremath. Holding 31.36% of Hikal's paid-up capital, Kalyani Investment contends that claims of a family arrangement concerning Hikal shares are unfounded and misleading. The company asserts it is not a party to any such arrangement and points to ongoing litigation between the Hiremaths and parties related to shareholding issues. Kalyani Investment asserts that no relief has been granted to the Hiremaths in the Bombay High Court regarding this matter. Furthermore, the company highlighted a previous letter from Late Mr. N. Vaghul, indicating the absence of any family agreement and alleged that the misuse of this information by the Hiremaths aims to manipulate the market for both Hikal and Kalyani Investment shares. The company plans to take action against the Hiremaths in response to what it sees as a serious offense under SEBI regulations.