Financial Daily from THE HINDU group of publications Friday, Dec 24, 2004 |
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Corporate
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Corporate Disputes CJM told not to hear Lodha case on Jan 7 Our Legal Correspondent
Kolkata , Dec. 23 IN the criminal proceeding against Mr Rajinder S. Lodha at the Calcutta High Court on Thursday, Mr Justice P.N. Sinha observed that as the matter was being heard at the High Court, the advocate for Mr R.P. Pansari, the complainant, shall not take any step on January 7, 2005 before the Chief Judicial Magistrate (CJM), Alipore. The criminal proceeding has been initiated against Mr Lodha and three other accused. The judge further observed that the CJM shall also not hear the matter on that date as the High Court has fixed it for hearing on January 11. Further, the court did not pass any effective order of stay in the criminal proceeding. In another proceeding before Mr Justice K.J. Sengupta, Mr Shaktinath Mukherjee, counsel for Mr Lodha, opposing the petition of Ms Laxmibai Newar, sister of M.P. Birla, seeking appointment of an Administrator over the property left by Priyamvada Birla, argued that at no point of time had any of the Birlas ever raised any objections about the functioning of Mr Lodha as co-Chairman of Birla Corporation. Mr Lodha was inducted into the company's board in 1991 and elevated to the position of co-Chairman in view of the illness of Priyamvada Birla. This apart, none of the Birlas raised any objection when Mr Lodha's son was also inducted into the board as one of the directors, Mr Mukherjee added. It was further submitted that before the death of Priyamvada Birla, all the Birlas had reposed faith in Mr Lodha unconditionally and there was no allegation against him. Before Priyamvada Birla's death, Mr Lodha was a good friend of the Birla family, but after her death, the same Lodha became a staunch enemy, Mr Mukherjee said. The hearing will resume on January 6.
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