The Hindu Business Line : Lodha counsel's charge against B.K. Birla

, B.K. Birla tried to destroy the M.P. Birla Group of Companies, alleged the counsel of R.S. Lodha on Friday before Mr Justice K.J. Sengupta of the Calcutta High Court, during his long argument refuting the petition filed by the Birla sisters for appointment of Administrator over the estate of late M.P. Birla.

Arguing that B.K. Birla and his company captured majority shares of Pilani Investments, which obviously affect the interests of the M.P. Birla Group, the counsel stated that no case regarding suspicious circumstances has been made out by the Birlas, hence, appointment of Administrator was not required.

It was submitted that the Birlas failed to make out any case of mismanagement, as M.P. Birla in his alleged mutual will of 1982 never provided anything for his sisters, and, therefore, if Priyamvada Birla does not provide anything to her sisters-in-law, it cannot create any suspicious circumstances as alleged.

Priyamvada felt it right that Lodha was the right person to keep the flag of M.P. Birla Group flying, and so she bequeathed everything to him, the counsel argued.

In the concluding session, the counsel stated that if the court passes any order reducing the powers of Lodha, which can minimise the assets of the M.P. Birla Group, the court should restrain the Birlas too from taking steps to reduce the assets of the M.P. Birla Group.

He said Lodha had no objection if profits of the company be kept in a separate account or a mutual fund.

Whether an executor of a will is answerable before the court during probate proceedings, the court wanted to know. The counsel, it is learnt, shall argue on this point in the next hearing.

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