In fact, on July 16 this year, five companies led by Atul and Rahul Kirloskar had announced to start afresh process for their respective businesses.
130 year old legacy
In the country including Ambani brothers, Tata Mistry, there were disputes of many such big industrial houses which have always been in discussion. Now the controversy of another big corporate house (Kirloskar family) has come to the fore in the country. Actually this is a matter of 130 years old heritage. Sanjay Kirloskar-led Kirloskar Brothers Ltd. He has alleged that four companies under his brothers Atul and Rahul are trying to snatch away his 130-year legacy and mislead the public.
While the other side has vehemently denied these allegations. Amid deepening disputes in the family, KBL in a letter to market regulator Securities and Exchange Board of India (SEBI) has claimed that Kirloskar Oil Engines (KOEL), Kirloskar Industries Ltd. (KIL), Kirloskar Pneumatic Company (KPCL) and Kirloskar Ferrous Industries Ltd. (KFIL) has tried to snatch or suppress the legacy of KBL.
case of inheritance
Apart from this, they have tried to show the legacy of KBL as their legacy, it has been said in the letter sent to SEBI. When contacted in this regard, Kirloskar Industries Ltd. The Spokesperson said that there are several factual inaccuracies in KBL’s letter to SEBI. The spokesperson said that KBL has not been mentioned in the entire release. Far from trying to snatch the legacy of the Kirloskar Brothers.
questions arising on the claim itself
In fact, on July 16 this year, five companies led by Atul and Rahul Kirloskar had announced to start afresh process for their respective businesses. New brand identities and colors were announced for these companies, as well as a new Kirloskar logo was adopted. At the time of this announcement, it was said that these colors reflect the legacy of the 130-year-old name.
Refusal to accept 130-year-old heritage
Objecting to the allegation of the first party, KBL has written a letter to SEBI. The letter states that KOEL, KIL, KPCL and KFIL were established in 2009, 1978, 1974 and 1991 respectively and do not have a 130-year-old legacy. In such a situation, it is now to be seen what the market regulator SEBI takes on this whole matter.
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