Kirloskar Brothers Ltd (KBL), led by Sanjay Kirloskar, on Tuesday accused four firms under his brothers Atul and Rahul of trying to "usurp" its legacy of 130 years and trying to mislead the public, which has been refuted by the other side. As the family feud simmers, KBL in a letter to capital markets regulator Sebi claimed that recent press releases by Kirloskar Oil Engines Ltd (KOEL), Kirloskar Industries Ltd (KIL), Kirloskar Pneumatic Company Ltd (KPCL) and Kirloskar Ferrous Industries Ltd (KFIL) "have sought to usurp the legacy" of KBL. Also, they attempted to pass off the legacy and track record of KBL as that of their own, the letter said.
Kirloskar siblings Rahul and Atul on Saturday raised questions over corporate governance of Kirloskar Brothers Ltd, led by their warring brother Sanjay, after having been cleared of insider trading charges labelled against them.
Sanjay Kirloskar, promoter of Kirloskar Brothers, moves Supreme Court to enforce a family settlement signed in 2009.
'Though one cannot paint the entire microcap basket with the same brush, investors need to be careful now as to what they're buying.'
"The fourth body was found at 230ft in general area where the third body was found. It is located about 20 feet away from the pulley cart used to transport the dug-out coal," operation spokesperson R Susngi said.
The body has been detected inside the 370-foot-deep coal mine in Meghalaya's East Jaintia Hills district,
However, the National Disaster Response Force, which has been engaged in the rescue operation since the day of the tragedy on December 13 last, will continue with their services.
Rigorous pumping of water from the nearby abandoned mines is expected to begin on Friday.
The 15-member team, equipped with specialised diving equipment including a re-compression chamber and remotely operated vehicles capable of searching underwater, went straightway to the mine site in the remote Lumthari village in East Jaintia Hills district.
The body, located 200 feet away from the bottom of the mine, was brought out using the Indian Navy's underwater remotely operated vehicle and an National Disaster Response Force boat on Wednesday, said operations spokesman R Susngi.
At least 15 miners were trapped in the 370 foot-deep illegal coal mine in Lumthari village of East Jaintia Hills district since December 13 and all efforts to pump the water out of flooded mine have been in vain.
The Solicitor General had told the bench that several members of the National Disaster Response Force were working at the site and instead of the army, the government has sent navy personnel there as the mine was submerged in water.
Drones, high capacity auto prime pumps, autonomous vehicles, robots, all played a role in the seemingly impossible rescue, reports Pranjal Sharma.
Pump manufacturing company Kirloskar Brothers Ltd and Coal India on Friday are jointly moving 18 high-powered pumps to the mine, officials said.
A high-powered submersible pump from Coal India Ltd will be put into operation on Thursday.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
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