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APL panel decides against Harsh Lodha re-appointment in MP Birla firms

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

mp birla group
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Last year, too, the APL Committee had decided not to support the re-appointment of Lodha as a director in Vindhya Telelinks and Birla Cable.

Ishita Ayan Dutt Kolkata
The committee of Administrators Pendente Lite (APL), appointed to protect the late Priyamvada Birla’s estate, has decided by a majority against re-appointment of Harsh Vardhan Lodha in M P Birla Group companies Birla Corporation and Universal Cables. Lodha is the chairman of both firms.

Apart from Lodha’s re-appointment, the APL committee decided against paying him profit-linked director’s remuneration from all four listed companies. The Birla Corporation AGM will be held on Tuesday.

The Birlas filed an application before the Calcutta High Court for implementation of the APL committee’s decisions. They also sought removal of Lodha from all positions within the M P

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First Published: Aug 24 2020 | 8:28 PM IST

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