The Hindu Business Line : `Mahatma was witness to Birla clan partition'

Mr Anindya Mitra, the senior lawyer representing Mr Rajendra Singh Lodha, put in on record that it was none other than the Mahatma who had stood witness to a letter written by Gajanan Birla, who gave up certain rights over family companies way back in the 1930s.

Mr Mitra, who was arguing that the Birla clan was divided long ago, took pains to point out that the Birlas could not now claim that they were all part of a single Hindu Undivided Family. In other words, they could not ask for a share of the Rs 5,000-crore MP Birla Group.

In his two-hour-long argument, Mr Mitra referred to a family partition that took place in 1933, when Gajanan Birla, brother of M.P. Birla and grandfather of Yashovardhan Birla, gave up all his shares in the joint stock family companies "for a consideration".

Gajanan Birla's rights were acquired by his father, Mr Rameshwar Das Birla, and the partition deed was signed. In 1934, a letter written by Gajanan Birla was published in newspapers, where he declared his decision to give up the rights.

This letter was signed in the presence of Mahatma Gandhi and G.D. Birla, the patriarch of the Birla family. So, as Mr Lodha's legal team argued, the Birla family has been divided for over seven decades and Yashovardhan Birla has no right to stake a claim for the MP Birla Group.

More Stories on : Courts/Legal Issues | Corporate Disputes

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
CAs worried over possible ban on non-audit services

Lodhas raise questions over Birlas' joint stand

`Mahatma was witness to Birla clan partition'

India ranks 8th among Top 15 debtors

IOC board okays proposal to bid for Indonesian gas firm

Sterlite to set up steel plant in Orissa

Big chunk of fuel costs flows into Govt kitty

TCS shares close at 16% premium on debut

Fixed price project income pie shrinks for software cos

Truckers' strike fallout — Auto cos face supply, production problems

Wi-Fi services to be de-licensed — States to decide on waiving entertainment tax on broadband