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Our Legal Correspondent

Kolkata , Dec 22

A CHENNAI-BASED shareholder of Birla Corporation has moved an application before the Calcutta High Court seeking removal of Mr R.S. Lodha as Chairman of the company on the grounds that Mr Lodha suffers from statutory disqualifications to act as a director of Birla Corp.

The petitioner has sought the court's order restraining Mr Lodha from continuing as director of the company.

In the petition, it has been stated that Mr Lodha failed to obtain the requisite number of qualification shares from the company as required under its Articles of Association.

The Articles of Association prohibit a person from acting as a director in the event of his non-holding of certain number of qualification shares, as provided in Section 270 of the Companies Act, 1956.

Ms Justice Indira Banerjee of the Calcutta High Court on Wednesday directed the petitioner to serve a notice on the company.

The court has fixed January 11 as the date for hearing the matter.

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