One-liner: The Supreme Court will hear on March 15 a plea by Kirloskar Brothers Ltd CMD Sanjay Kirloskar challenging a Bombay HC order directing arbitration in a family feud related to assets.
Repeated adjournments: A bench was told by senior advocate A M Singhvi, appearing for KBL, on Friday that the other side has been taking benefit of the mediation and repeated adjournments of hearings in the case.
Mediation efforts failed: On Feb 4, the court was informed by KBL that the mediation by former apex court judge Indu Malhotra to settle the Kirloskar family feud has failed.
Bench issues notice: Asking the parties involved in the case to explore the possibility of mediation, the bench had issued notice on the appeal by Sanjay Kirloskar and had asked them to file replies.
What the feud is about: The feud over the deed of family settlement relating to the assets of more than 130-year Kirloskar group reached the apex court after Sanjay Kirloskar appealed against the Bombay HC order.
Legally untenable: In the appeal, it was contended that the order of HC is legally untenable and misconceived and it contains serious errors of fact and law and incorrect findings have been arrived at on an erroneous basis.
Bottom line: Being aggrieved, KBL had earlier filed a case in a Pune civil court seeking Rs 750 Cr damages for violation of the agreement.
Source: PTI
