Financial Daily from THE HINDU group of publications
Friday, Dec 03, 2004
Financial Daily from THE HINDU group of publications Friday, Dec 03, 2004 |
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Corporate
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Corporate Disputes HC reserves verdict in caveat discharge plea by Lodha Our Legal Correspondent
Kolkata , Dec. 2 HEARING on the application filed by Mr R.S. Lodha, executor of the will of Priyamvada Devi Birla, seeking discharge of caveats filed by the four Birlas, came up before Mr Justice K.J. Sengupta of the Calcutta High Court on Thursday. The court, after hearing the matter, reserved the judgment . Mr S.B. Mookherjee, counsel of Mr K.K. Birla, disputed the claim propounded by the counsel of Mr R.S. Lodha during arguments that the alleged mutual will of 1982 made by M.P. Birla and Priyamvada Birla can be revoked. Mr Mookherjee, relying on a judgment of another High Court on the same issue, stated that where the High Court has held that in cases of a mutual will, if the makers of the will are alive then it can be revoked. But in case of death of one of the makers, the other survivor does not have the right to revoke the mutual will, and, therefore, the question of revocation of the irrevocable mutual will does not stand. Mr P.K. Roy and Mr S. Sarkar, counsel appearing for Mr G.P. Birla and Mr B.K. Birla, countered the argument advanced by Mr Lodha's stating that M.P. Birla never acted as executor of the will of Priyamvada Birla made in 1982; hence the question of replacing M.P. Birla after his death as executor of the will of Priyamvada Birla cannot stand. Counsel said at the time of making of will, the names of the executors were there. At the same time, for probate of the will, when it was found that one of the executors died, then the other executor does have a right to nominate a new one in place of the dead executor. In that case, whether the dead person acted as executor or not has no implication, particularly in this case,counsel added. It was further submitted that the Indian Succession Act does not say anything about caveatable interest and the courts of law usually take a liberal approach that if any person has any interest, he may have caveatable interest too, if such caveat is at all lodged. While reserving judgment, the court fixed December 15, as the date for hearing of Birlas' application seeking discharge of the caveat filed by Mr Lodha in the 1982 will made by M.P. Birla and Priyamvada Birla.
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