Baba Kalyani has lost his seat on the board of Hikal Ltd as shareholders of the company rejected a special resolution for the continuation of his appointment as non-executive, non-independent director after he attains 75 years of age on January 7.

Kalyani, who has been on the Hikal board for three decades, has been locked in a legal battle with his sister Sugandha Hiremath for the ownership of Hikal.

Hikal had sought shareholders’ approval through a special resolution on the continuation of Kalyani as a director beyond the age of 75. Since it was a special resolution, it needed the approval of 75 per cent of total votes polled.

Regulatory filing by the company showed that only 51.99 per cent of votes were polled in favour of the resolution and 48 per cent were against it.

The voting percentage showed that Hiremath, who held a vital 35 per cent stake, voted against the proposal. Around 27 per cent of the institutional votes came against the resolution.

As for public shareholders, 57.24 per cent votes were in favour and 42.75 per cent were against the resolution.

Kalyani was first appointed as director of Hikal on February 5, 1992.