The instant appeal challenges a Calcutta High Court verdict that restricted the 'administrators pendente lite' from interfering with the MP Birla Group of Companies' day-to-day operations.
A single judge of the Calcutta High Court had earlier given full authority to a panel of three administrators — one each nominated by the Birla and Lodha families and a retired judge — to take control of the entire estate of the late Priyamvada Devi Birla, former chairperson of the MP Birla Group, who died on July 3, 2004. The judge in September 2020 passed an order directing the removal of Harsh Vardhan Lodha as the chairman of the MP Birla Group on the basis of a contentious concept of “extended estate”.
A division bench of the Calcutta High Court on Thursday unanimously ruled in favour of Harsh Vardhan Lodha continuing as chairman of the $1.9 billion (₹16,000 crore) MP Birla Group, reversing a three-year-old judgment of a single judge of the court.
The Calcutta High Court on Thursday ruled in favour of Harsh Vardhan Lodha continuing as chairman of MP Birla Group and reportedly barred the administrators of Priyamvada Devi Birla s Estate from.
Birla vs. Lodhas: Calcutta HC modifies earlier order restraining Lodhas thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.