Financial Daily from THE HINDU group of publications
Wednesday, Dec 22, 2004
Financial Daily from THE HINDU group of publications Wednesday, Dec 22, 2004 |
|
|
|
|
|
Corporate
-
Corporate Disputes Birlas' plea for Administrator over M.P. Birla estate resumes in HC Our Legal Correspondent
Kolkata , Dec. 21 THE Birlas' petition seeking appointment of an Administrator over the estate of M.P. Birla resumed here today before Mr Justice Kalyan Jyoti Sengupta of the Calcutta High Court. The Birla Group prayed for maintaining status quo with regard to shareholding of Priyamvada Birla in all companies, to which the counsel of Mr Rajinder S. Lodha raised objections. Meanwhile, Mr R.S. Lodha filed a petition today in the Calcutta High Court, seeking dismissal of the application filed by Ms Laxmibai Newar, Ms Radha Mohta, Mr B.K. Birla, Mr K.K. Birla, Mr G.P. Birla and Mr Y. Birla for appointing an Administrator over the estate of M.P. Birla. It was stated that the petition for appointment of Administrator was an abuse of the process of law and causing multiplicity of the proceedings, which the court should not allow. It was stated by the counsel that the Birla Group filed a similar petition before the Company Law Board (CLB) with the same plea and documents by the same advocate on record. And before the CLB, Birlas sought appointment of an Administrator over Birla Corporation, the flagship company of the M.P. Birla Group. The CLB had refused to pass any order on the plea by the Birlas. It was further stated that in the criminal proceedings initiated with regard to the same will and properties, where, at the time of hearing in the court the Birla family members were present, the same proposition was made alleging fraud. It was further stated that Mr K.N. Tapuria, who affirmed all the petitions on behalf of the Birlas and the two sisters of the Birlas, had a questionable personality in corporate circles. Mr Tapuria has no locus standi to affirm all the petitions, it was contended. In the application, it was further mentioned that only to harass Mr Lodha and to create obstacles in the probate of the will made by Priyamvada Birla in 1999 that this application for appointment of Administrator was filed. The counsel pleaded that the application should be dismissed. The hearing in the matter will continue. Matter assigned to new Judge: The criminal proceeding which was released by Mr Justice D.P. Sengupta on Monday has been assigned before Mr Justice Pravendu Narayan Sinha. The matter will be heard on Wednesday. It relates to quashing of the proceeding filed by Mr. R.P. Pansari in the Magistrate's court of Alipore, alleging that Mr Lodha has practised fraud in getting the entire property of M.P. Birla Trust transferred to his name.
More Stories on : Corporate Disputes | Courts/Legal Issues
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|