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.
"We are sure that the will is fabricated and so are going to challenge it in the court of law," highly-placed sources in B K Birla group said on Wednesday.
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.
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.
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.
Lodha, Birlas file caveats in court; Birlas say will may be fabricated.
With the Birlas yet to file their objections to their auditor Rajendra S Lodha's claim over M P Birla group, a late claimant to the Rs 5000 crore (Rs 50 billion) pie decided to adopt a wait and watch policy for the time being.
The case relating to the disputed will of Priyamvada Birla was on Tuesday assigned to the court of Justice Kalyanjyoti Sengupta and its date of hearing would be announced soon.
The Birla families on Thursday made it clear that they do not want "a rupee" of the assets of the late Priyamvada Birla but they were united to secure the estate for charity.
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
Nearly 98% of shareholders vote in favour of his reappointment and payment of remuneration to Lodha.
It was a replay of the annual general meetings of the cable companies of the M P Birla group last month even as the Birla side raised "illegalities" in the latest poll results.
The astounded Birlas have now come together to fight the 'outsider' and to keep him from 'taking away the family's property.'
In the wake of the tussle between the Birlas and Rajendra S Lodha over the will of Late Priyamvada Birla, chartered accountants firm Lodha & Company said it was not seeking re-appointment as auditors of Indo Gulf Fertilisers Ltd.
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.
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
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 world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
