In a major victory for Rajendra Singh Lodha in the over three-year-old battle with the Birla family over the will of Priyamvada Birla bequeathing assets to Lodha, a division bench of the Calcutta High Court today set aside the order of appointing administrators for the businesses and companies of the M P Birla group, passed on May 19, 2006, by a single judge bench of the court. | |
| In the 150-page-plus order, the division bench held that it did not find any necessity to appoint administrators for the M P Birla group or even the estate of late Priyamvada Birla. However, Lodha will have to maintain and furnish accounts of the estate, including income and dividend from shares of Priyamvada Birla, according to the court ruling. |
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| Only the operative part of the order was read out in the court and a copy of the full judgement is awaited. Birla family's solicitor N G Khaitan could not be reached for comment while B K Birla is in Switzerland. |
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| A press briefing by the Birla side was cancelled after the order was read out in the court. Debanjan Mandal of Fox & Mandal, solicitor of Lodhas, described today's order as a dramatic victory for the Lodha side. "We will get the order in a day or two and then decide whether we will file an appeal against it," said Birla solicitor Khaitan. In December 2004, the Birlas had applied for the appointment of administrators for the companies of the M P Birla group. |
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| They filed a list of 36 companies as part of the group and asked for the removal of Lodha from control, management and administration of the M P Birla group. |
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