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The Calcutta High Court, on Friday, stayed a criminal petition against "directors or erstwhile directors" on the board of three M P Birla group companies

The Division Bench of the Calcutta High Court on Thursday accepted the pleas of Birlas and declined the prayer of Lodhas and companies for stay on the directions passed by the single judge

The three companies and Lodha moved applications challenging a verdict passed by a single judge on Friday

As per Lodha, the estate is defined the assets prepared by jt administrators and produced in court. That makes the estate a minority shareholder in all four mfg firms within larger promoter group

No payment of profit linked to director's remuneration by all four listed companies to be made to him at AGMs for FY20

The decision of the APL committee has been challenged in Calcutta High Court, said Lodha, when asked about it at a press conference after Birla Corporation's AGM

The stock soared 12% to Rs 771, also its 52-week high on BSE