Finshots Daily Inside the Kirloskar family feud and SEBI's involvement
Jan 22, 2025
Tension brews within the Kirloskar family as a 2009 legal agreement stirs up disputes over business ownership. Intricate family dynamics come to light alongside accusations of non-compliance with corporate transparency regulations. SEBI's involvement adds another layer, pushing for adherence to disclosure norms in the face of growing scrutiny. This saga illustrates the complex interplay between family ties and corporate governance, making it a riveting tale of intrigue.
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SEBI's Role
- SEBI ensures fair treatment of shareholders in listed companies.
- The Kirloskar family's dispute involves SEBI's demand to disclose a family agreement, highlighting the intersection of family matters and corporate law.
Kirloskar Family Feud
- The Kirloskar family, a prominent name in Indian industry, created a family agreement (DFS) in 2009 to divide business ownership.
- Disputes arose over alleged violations of the DFS, leading to legal battles involving SEBI and SAT.
Disclosure Debate
- SEBI's new rules mandate disclosure of agreements impacting listed companies.
- KOEL argues against disclosing their family agreement, claiming it's a private matter and doesn't impact their operations.