The order, which set aside the August 9 ruling of a single-judge bench, prevented the group entities from publishing the voting results of the last AGM. However, the firms will now be able to execute decisions taken at the AGM last year. People in the know said the Birlas would appeal against the order in a higher court.
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.
Nearly 98% of shareholders vote in favour of his reappointment and payment of remuneration to Lodha.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The market breadth in BSE remains positive with 1,554 shares advancing and 1,196 shares declining.