The National Company Law Tribunal (NCLT) has granted permission to the Atul Kirloskar faction of Kirloskar Industries Ltd (KIL) to sell its shareholding in Kirloskar Brothers Ltd (KBL), amid an ongoing family dispute. The tribunal ruled that shares should first be offered to Sanjay Kirloskar, with his nominees given priority. If not bought within 30 days, KIL can then sell the shares to others. Allegations of mismanagement and rejection of pre-clearance applications were raised by KIL and Atul Kirloskar's faction.
