Birla Corporation has grown from a Rs 1,763-crore company to Rs 3,200 crore; profitability, however, has suffered due to the slowdown.
The fierce litigious fight for little-known Birla Corporation marked the first major controversy for this storied and reserved business family.
Vindhya Telelinks, Universal Cables and Birla Cable shareholders go against family's wishes.
The court's directions mean that Lodha immediately ceases to hold all positions in the M P Birla group, including as director in the firms and other positions in the trusts and societies of the M P Birla group, a statement from the Birlas read.
In a relief to R S Lodha, the Company Law Board on Monday dismissed a petition seeking investigation into who controls M P Birla flagship company Birla Corporation.
Rajendra S Lodha would file his affidavit in reply early next week to the opposition by the Birlas against his petition before the Calcutta high court seeking dismissal of their caveats in the matter regarding Priyamvada Birla's will.\n\n\n\n
The Supreme Court on Monday dismissed four petitions filed by the Birlas challenging R S Lodha's right to object to late Priyamvada Birla's purported will of 1999. A bench headed by Justice S B Sinha while dismissing the petition has imposed cost of Rs 2,50,000 each on the three Birla members.
A bench comprising Justice S B Sinha and Justice H S Bedi, which is hearing the matter, had earlier issued notices asking Lodha, the representatives and legal heirs of Late Laxmi Devi Newar, including Nand Gopal Khaitan, to file their replies. The hearing will resume on Wednesday.
A division bench of Calcutta high court upheld on Thursday an earlier order rejecting the caveatable interest of three members of Birla family in the probate petition of Rajinder S Lodha in the Priyamvada Birla estate case.
A division bench comprising Justice P C Ghose and Justice T K Dutta, while setting aside the order of Justice K J Sengupta appointing the four administrators to the estate, directed Lodha not to sell any part of it or spend any amount from it except for its maintenance.
The Supreme Court on Monday refused to expedite hearing on a petition filed by three Birla family members, who have challenged the Calcutta High Court's order that refused them right to object to the purported 1999 'will' of late Priyamvada Birla.
The Supreme Court on Friday refused to quash the criminal proceedings initiated by an employee of the Birla Group against R S Lodha and three of his associates.
The Birlas on Tuesday made a strong plea before the Calcutta High Court for the appointment of an administrator over the estate of M P Birla group, alleging that Rajendra Lodha, who is claiming control of the group on the basis of a purported will of
The Calcutta high court on Tuesday granted 10 days time to Rajendra Lodha to submit the original of the registered purported will of Priyamvada Birla by which he has been bequeathed the Rs 5000 crore
A see-saw battle of arguments between the Lodha camp and the Birla group, who are fighting for control of Priyamvada Birla's Rs 2,400 crore (Rs 24 billion) assets, on Thursday unfolded before the Supreme Court.
A few hundred gold coins of Maurya Gupta and Mughal eras and gold artefacts, which could be worth several hundred crores, were recovered from a hidden strongroom in the house of late Priyamvada Birla.
Rajendra Lodha, who has been bequeathed M P Birla's over Rs 5000 crore (Rs 50 billion) assets by Priyamvada Birla, kept himself away from her shraadh ceremony at the Birla Park on Thursday
The Birlas on Thursday informed the Calcutta High Court that Priyamvada Birla was suffering from several debilitating diseases and not in firm health as claimed by Rajendra S Lodha who asserted she had made the 1999 'will' in his favour in her full s
The legal battle for the Rs 5,000 crore (Rs 50 billion) worth assets of M P Birla group has entered a crucial stage with the main arguments for claimant Rajendra S Lodha's probate petition for Priyamvada Birla's purported will about to begin soon.
Not a single immovable article was missing from the house though 18 months had passed since the death of Priyamvada Birla.
Rajendra S Lodha, the chartered accountant who has staked claim on the Rs 5000 crore (Rs 50 billion) assets of the M P Birla group
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