Lodha challenges CLB order before HC
Rajender S Lodha on Wednesday filed an appeal in the Calcutta High Court, challenging an order of the Company Law Board that held transfer of Priyamvada Birla's shares in his name as wrongful and asked it to be restored in the name of the original...
By PTI |
KOLKATA: Rajender S Lodha on Wednesday filed an appeal in the Calcutta High Court, challenging an order of the Company Law Board that held transfer of Priyamvada Birla's shares in his name as wrongful and asked it to be restored in the name of the original owner.
The appeal challenging the June 28 CLB order was moved on behalf of Lodha and East India Investment in the court of Justice Tapan Kumar Dutta.
Justice Dutta, however, released the matter as he was hearing another matter between Birlas and Lodha and referred the case to the chief justice for re-assignment.
The CLB had passed the order on a petition by two sisters of M P Birla, Laxmi Devi Newar and Radha Devi Mohta, alleging that Lodha, his son, Harsh Lodha, and a few others had transferred the ownership of 33,715 shares of East India Investment, a M P Birla group company, in their name.
The Birla family and Lodha are engaged in a bitter legal battle for the control of the Rs 5000 crore assets of the M P Birla group after Priyamvada Birla, the widow of M P Birla, died without a heir in July 2004 and Lodha declared that the entire estate had been bequeathed to him by a purported will of Priyamvada.
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