Financial Daily from THE HINDU group of publications
Friday, Jul 16, 2004

Cross Currency

Group Sites

Corporate - Corporate Disputes

Birlas yet to get copy of will from Lodha

Our Bureau

Kolkata , July 15

THE Birla family has not yet received the official certified copy of the will of the late Priyamvada Birla from the M.P. Birla group auditor, Mr R.S. Lodha.

According to a senior official of a Birla group company, till late in the evening no document from the rival camp had reached their offices. Birla family members are expecting that certified copy may arrive on Friday.

"Our notice was sent yesterday by our lawyer, Mr P.K. Khaitan. They received it and might me waiting. We will wait till tomorrow. In any case, they are bound to send us the certified copy. They are legally bound on this account," the official said.

When asked what the next course of action would be, he said: "If they do not send us a copy, then we have all the legal options in front of us," he said.

It may be noted that apart from seeking a certified copy of the will, the Birla family has sought the right to inspect the original document. "Isn't it natural to check the signatures and credentials of the signatories of a will which decides the fate of Rs 5,000 crore worth of assets," the official queried.

Meanwhile, the legal battle over the will was expected to commence at the 8th Court, Alipore, here today, but did not come up for reasons not known. According to legal circles, it may be taken up on Friday prior to the necessary probate proceedings.

The caveat being filed by the Birla family members in the Calcutta High Court on Wednesday, following the one by the Lodhas, is said to have been transferred today, after the required docketing, to the office of Deputy Registrar, Insolvency, High Court. The matter may be heard by the 8th Sub Judge of the City Civil Court, it is learnt. The Rule of Caveat is governed by section 148A of the Code of Civil Procedure.

Meanwhile, sources indicated that some top lawyers had already been lined up by the Birla family to launch the legal proceedings.

More Stories on : Corporate Disputes | Diversified

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Biocon to pay 20%

Scorpio launched in Kuwait
`Birlas hold over 60 pc in Pilani Investment'
We're united in securing Estate for charity: Birlas
Legal heir issue may open pandora's box
Birlas yet to get copy of will from Lodha
Rating agencies watching Birla case keenly
Warwick honours Venu Srinivasan
Tulip agrees to clear VRS dues for Centaur staff
Natco Pharma plans foreign bonds issue
Emerging Markets acquires 5.6 pc stake in Birla Corp
GAIL in talks to pick 26% in Ennore project
Coromandel Fert plans Rs 40-cr expansion at Vizag
Reliance proposes mega power plant in Kakinada
Carrera plans $130-m textile project in India
FIR filed against Top Line Shoes directors
Metropolis ropes in hospitals to tap global clinical trials biz
Retail, shipping business — Govt turns down ONGC's joint venture proposal
Woolmark, Resil pact for new technology
Woolmark to focus on marketing, structural skill
Murugappa Group plans community initiatives in AP
Indo Rama plans foray into grocery retail
ISO certification for KAL
Samkrg Pistons gets QMS certification
Kerala signs pact for TRL revival
Whirlpool upbeat on exports — Converts part of Pondy facility into EoU
Karan Paul is new Apeejay group chief
Santanu Mallick appointed as Star News CFO

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line