High Court refuses to stay order barring Lodha from heading M P Birla firms

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 Division Bench of the Calcutta High Court has declined an ad interim stay on the Single Bench order restraining Harsh Vardhan Lodha from holding any office in M P Birla group entities.

Eight applications were filed by the Lodhas, including those by M P Birla group companies Birla Corporation, Vindhya Telelinks, Universal Cables and Birla Cable. On Thursday, the Division Bench clarified that there was a restriction on Harsh Vardhan Lodha from holding any office in any of the entities of the M P Birla group during the pendency of the suit (testamentary) “on the strength of shares referable