Birlas seek independent person to run the M P Birla group cos
Birla group solicitor N Khaitan said that M P Birla group was in a state of 'medio' with the death of Priyamvada Birla-appointed executor R S Lodha. Old Horses of India Inc
By PTI |
KOLKATA/NEW DELHI: Birlas have sought appointment of an independent person to run the M P Birla group companies, including the flagship Birla Corporation.
Claiming that the M P Birla group was in a state of 'medio' with the death of Priyamvada Birla-appointed executor R S Lodha, Birla group solicitor N G Khaitan said the group requires an independent person in this situation till disposal of the cases involving the Lodhas and the Birlas.
The matter is scheduled for hearing by the Principal Bench of the Company Law Board in Delhi.
Meanwhile, some shareholders of Gwalior Webbing Co Ltd, a Birla Corporation firm, today moved an application before the the CLB at Delhi seeking deletion of R S Lodha's name from the company's share holders' list.
Seeking immediate rectification of company's share holders register, they submitted that since R S Lodha is now dead, his shares should be transferred back to the name of late Priyambada Birla.
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This was opposed by counsels appearing from Lodha side and submitted the plea was not maintainable and CLB's Delhi bench has no jurisdiction to entertain this plea. Later, the CLB Chairman S Balasubramanian posted the matter to November 24 and would hear the issue of jurisdiction and maintainability at its Eastern region bench in Kolkata.
A bitter legal battle is on for the over Rs 5000 crore assets of the M P Birla group between the Lodhas and Birlas since 2004 following the death of Priyamvada.
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Following the death of R S Lodha, his younger son Harsh Vardhan Lodha is set to apply before the Calcutta High Court seeking to replace his father as the heir to the M P Birla group assets. R S Lodha had filed a probate application before the high court in 2004 claiming that Priyamvada Birla had vide a will made in 1999, bestowed on him the M P Birla group assets.
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