Family Dispute and SEBI Involvement

The Kirloskar family's internal conflict revolves around a 2009 family agreement known as the Deed of Family Settlement (DFS), which governs the ownership and control of their businesses. Tensions escalated when Sanjay Kirloskar of Kirloskar Brothers Limited (KBL) accused Kirloskar Oil Engines Limited (KOEL) of violating the DFS. Specifically, he claimed that KOEL's sale of shares to another family company and its acquisition of a pump company using the Kirloskar name breached the non-compete clause in the DFS. As a result, the matter has led to legal challenges, with KBL seeking intervention from the Securities and Exchange Board of India (SEBI) and the Securities Appellate Tribunal (SAT) to address these disputes.