Hikal chairman Jaidev Hiremath has assured the management of the life sciences and agrochemical firm that the long-term opportunities are “promising”, despite the ongoing legal dispute regarding its ownership.
“I want to reaffirm that, despite what you may have read in the news, there is no change in commitment of the Hiremath family to continue to work relentlessly alongside all of you to keep building our company as per our long-term strategic plans,” Hiremath said in a letter to the company’s senior management.
“We shall emerge stronger and more resilient than ever before, as we continue to work together,” he said in the letter. On March 18, the promoters of Hikal — Jaidev Hiremath and Sugandha Hiremath — had filed a case against Baba Kalyani and Kalyani Group companies, also known as BNK Group, in the Bombay High Court.
The Hiremaths had sought a ‘performance obligation’ as per the family arrangement and transfer of Hikal shares in favour of the Hiremath family. Sugandha Hiremath is Bharat Forge promoter Baba Kalyani’s sister.