New twist to Kesoram succession plan

Speaking on the sidelines of the company's annual general meeting, Birla said, the company would be jointly managed his daughter, Manjushree Khaitan and grandson, Kumar Mangalam Birla, once he retired.

Birla ruled out splitting the company between Manjushree Khaitan and Kumar Mangalam Birla. He said, the shareholders' rights would be protected.

However, ultimately the fate of the company would be decided by Khaitan and Kumar Mangalam Birla.