Business Daily from THE HINDU group of publications
Friday, Dec 22, 2006

Cross Currency

Group Sites

Corporate - Courts/Legal Issues
Priyamvada will: High Court rejects caveatable interest of Birlas

Our Legal Correspondent

Kolkata , Dec. 21

A Division Bench of the Calcutta High Court comprising Mr Justice P.C. Ghose and Mr Justice P.K. Dutt today upheld the order of the Single Judge (in March 2005) who rejected the caveatable interest of Mr K.K. Birla, Mr B.K. Birla and Mr Yashovardhan Birla, in the case pertaining to the will of late Priyamvada Devi Birla, made in 1999.

The property left behind by Priyamvada Devi is said to be valued at over Rs 5,000 crore. The Birlas have decided to challenge the order in the Supreme Court.

The Bench also upheld the decision of the single Judge that Mr R.S. Lodha has a caveatable interest in the mutual will of M.P. Birla, made in 1982. The Division Bench, while dismissing the appeal of the Birlas, also dismissed the cross appeal of Mr R.S. Lodha challenging the order of the single Judge, who held that G.P. Birla has caveatable interest in the 1999 will of Priyamvada Birla.

The Bench, while dismissing the appeal, stayed the operation of the order for four weeks, enabling the Birlas to move to a higher forum.

After the judgment was pronounced, the Birlas, addressing a news conference, stated that they would challenge the order of the Appeal Court in the Supreme Court. The Birlas, apparently are not giving any sort of walk-over to Mr Lodha, and in the pending proceedings, challenge (of the Will) by G.P.Birla and the two sisters of MP Birla still remains, and the said Will would be contested.

It may be recalled that in 2004, Mr R.S. Lodha filed a probate petition for the will of Priyamvada Birla in the capacity of an executor. This was challenged by four Birlas. Mr Lodha moved court challenging the caveats. Mr Justice K.J. Sengupta, on March 11, 2005, held that only G.P. Birla, out of the four, had caveatable interest, as he was one of the executors of the 1982 will of Priyamvada Birla. The Birlas then challenged the order in a Division Bench.

More Stories on : Courts/Legal Issues | Corporate Disputes

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

Stories in this Section
Volvo shifting Europe truck work to India

Essar Oilfields buys rig for $220 m
Royal Enfield to hike Bullet prices
Maharashtra Seamless allots FCCB conversion
SREI Infra to raise Rs 675 cr thru ECBs
Gayatri Projects to hike capital
United Spirits pre-pays $200 m
Kerala Power Finance pays 20% dividend
BHEL bags Rs 165-cr order from IOC
Award for Noida-based biz woman
Priyamvada will: High Court rejects caveatable interest of Birlas
Ministry's clearance for garnet sand mining legal: Madras HC
Creating the `next practices'
CII keen to become CAM-I member
BHPV may be merged with BHEL
Four points to watch in the Corus race
ABB to acquire Raman Boards
For South Asian financial integration via the stock market
Escorts talking to PE firms to raise funds
Orissa Govt signs pact with Mittal Steel for 12-mt plant
Singur land: Let's discuss, Bengal Govt tells Mamata
3 cos get nod to market `Simvastatin'
Aurobindo gets USFDA nod
Lanco Infratech to partner DongFeng for Sasan project
SEBI bars Gammon India from trading
Mangalore cashew co gets ISO 22000 certification
CCEA okays revival package for Bengal Chemicals
Space Hospitals to widen services in TN
Captive mine to meet Usha Martin requirement
Isogen to expand Ocimum presence in Europe, US

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, 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