Lodha appeal against HC order to lean on extent of Priyamvada Birla estate

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

Harsh Vardhan Lodha and three companies of the M P Birla group-–Universal Cables, Birla Cable and Vindhya Telelinks-–have filed an appeal against the order passed by the Calcutta High Court restraining Lodha from holding any office in group entities.

The appeals were filed before the Division Bench on Monday. The company stocks today slipped on the high court order. Of the five manufacturing companies in the group, four–-Birla Corporation, Vindhya Telelinks, Universal Cables and Birla Cable-–are listed. The fifth, Hindustan Gum and Chemicals, is a joint venture with Solvay Inc of the US.

Birla Corporation slipped 7.18 per cent and