The Hindu Business Line : Birla VXL to consider removal of Lodhas as auditors

IT is now the turn of Birla VXL Ltd, the flagship organisation of Mr S.K. Birla, to think of removing Lodha & Co, belonging to Mr Rajendra Singh Lodha, as statutory auditors of the company.

The Jamnagar-based textile major has informed stock exchanges that it had received special notices from some shareholders for the removal of Lodha & Co as the statutory auditor.

The matter is scheduled to be considered by shareholders at the forthcoming annual general meeting of the company. It was further suggested that Lodha & Co be replaced by Khimji Kunverji & Co.

Similarly, it was suggested that Jain Pramod Jain & Co be appointed as a branch auditor for the company's Amritsar unit, again as a replacement for Lodha & Co.

Birla VXL, which has a second factory at Jamnagar in Gujarat, manufactures fabrics for the two suitings brands of OCM and Digjam.

It may be noted that a large number of Birla companies, including the Aditya Birla Group, have already removed Lodha & Co as the statutory auditors of their respective companies. This had taken place following the continuing spat between the scions of the Birla clan and Mr Lodha over the controversial will of the late Priyamvada Devi Birla, who was chairperson of the MP Birla Group.

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