Gujarat: Bhavnagar company's director stabs younger brother during board meeting

RAJKOT: The board meeting of Bhavnagar-based Tamboli Casting Ltd, one of the biggest metal casting companies in India, witnessed unprecedented scenes when the chairman's elder son allegedly attacked his younger brother with a knife on Saturday evening.
Mehul Tamboli, one of the directors in TCL, reportedly got enraged after his father Bipin put forward a proposal to the board to remove him from the post.The board meeting was called at the company's campus in Vartej, 24 km from Bhavnagar city.
At least seven people were present in the boardroom when a furious Mehul suddenly picked up the knife and started stabbing Vaibhav in the stomach. He was overpowered by others and Vaibhav was rushed to a private hospital where he was operated upon late in the night. His condition is said to be stable.
According to the FIR lodged by Bipin Tamboli, others present in the meeting were company's vice-chairman PA Subramanium, independent director Abhinandan Jain, chartered accountant Ankit and two others. He had moved the proposal to drop Mehul after discussions with other shareholders, the 77-year-old chairman told police.
Senior police officials said that Mehul, who is around 50 years, is on the run after the incident and efforts are being made to trace him. However, he has been booked under section 324 (voluntarily causing hurt) in Vartej police station.
Manish Thakar, deputy superintendent of police, Bhavnagar said “We have got to know that the reason for the assault is business disputes in the family. We are still investigating the matter and efforts are on to arrest Mehul.”
Police are yet to ascertain how Mehul got a knife and whether the attack was pre-planned if he was already carrying it in the board meeting.
It is learnt that the relationship between the two brothers has been strained for a long time now and sources said the main reason is ownership of the family properties. “Doctors have said Vaibhav’s condition is improving and there is nothing to worry.” When asked about the business dispute, he refused to comment.
Tamboli Casting is the wholly owned subsidiary of BSE-listed Tamboli Capital Ltd (TCAP) which holds 100% equity shares in TCL. Vaibhav, 45, is the chairman, CEO and whole-time director of the holding company, according to the company's 2020 annual report filed with the BSE. The company supplies auto parts to international car majors like Ferrari, Jaguar and Mercedes too.
Senior police officials in Bhavnagar told TOI that Mehul is extremely temperamental and impulsive in nature. Earlier in 2012, his wife Julie had lodged a complaint of domestic violence against him. Bipin and his wife stay with Vaibhav and his family in Hill Drive plot while Mehul lives separately near Neelambaug.