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| CLB upholds appointment of Lodha in Birla Corp board |
| Press Trsut Of India / Kolkata Oct 20, 2009, 00:51 IST |
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The Company Law Board today dismissed a petition challenging the appointment of Harsh Vardhan Lodha, son of late R S Lodha, on board of Birla Corporation.
Passing an order on a petition challenging the appointment of Harsh Vardhan Lodha, CLB Chairman S Balasubramanian said the plea was motivated and aimed at ousting Lodhas from the management and not for protecting the interest of the company.
The petition was filed by Jodhraj Laddha, Arun Kumar Jhunjhunwala, Kanupriya Bagrodia, Sunita Parasramka, S Chatterjee and Rameshwar Jute Mills.
"Limited allegation in relation to the affairs of the company has also not been established... The reading of the petition would show that the grievances of the Birlas through the petitioner is against Lodha as a person, and therefore the purpose is to attack him and similarly (in) the application, they are against Harsh Lodha.
In other words the petition is not against the company," Subramanian said in his order. He said after an overall assessment of the merits of the case, the petition deserve to be dismissed on various grounds.
"Accordingly I dismiss the petition, all subsisting interim orders," he added.
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