Financial Daily from THE HINDU group of publications
Wednesday, Jul 21, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jul 21, 2004 |
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Corporate Disputes Corporate - Corporate Disputes Drama outside Birla Corp board room
Kohinoor Mandal
Kolkata , July 20 IT was a throwback to the famous spat between ITC and BAT, complete with the shoving, shouting and even fisticuffs; and, attempts to avoid the media in a plush hotel. The Birla Corporation board meeting, which drew hordes of media personnel, had all this and more, with security guards employed by ITC Sonar Bangla trying to escort the board members to waiting elevators and safety. The result, at the end of the two-hour-long luncheon meet, was there for all to see: a few bruised reporters, a lot of unanswered questions, nothing more than a smile from Mr R.S. Lodha who chaired the Tuesday'smeeting before moving away to attend to other, and perhaps more pressing, tasks. The lot of drama, however, preceded the board meet insofar as the media was concerned, with newsmen waiting in front of the room where the board meeting was being held, trying to ensure that no member left the premises without answering their questions. Earlier, the venue of the meeting was shifted from Birla Buildings to the hotel. The lensmen were the most harassed of the media lot. They had to move from one exit of the hotel to another, following the vehicles that were pulling out of the hotel through the various gates. Bang in the middle of the ruckus was Mr Ranvir Bhandari, GM of ITC Sonar Bangla, who was seen personally trying to shove away reporters to shepherd Mr Lodha to his car, a black Lancer. The drama, however, was topped by a press meet convened by Fox & Mandal, the solicitors representing the Lodhas. Mr Debanjan Mandal, partner, had a classic one-liner for the media: "We have nothing to say today; there has been no development that requires us to comment".
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