Lodhas suffer setback in SC

Kolkata: The long legal battle between the Birlas and the Lodhas over the control of M. P. Birla Group and Priyambada Birla’s will took a new turn with the Supreme Court on Wednesday dismissing a special leave petition moved by Birla Corporation, an M.P. Birla Group company now under the control of Harsh Vardhan Lodha, against a group of minority shareholders (close associates of the larger Birla family) alleging theft of vital documents from its registered office at Birla Building.

The judgment is likely to have an impact on the pending proceedings in the NCLT in the matter of oppression and mismanagement against Birla Corp and in the trust suits pending in the Calcutta High Court.

The judgement was delivered by the Supreme Court Division Bench comprising Justice R Banumathi and Justice R Subhash Reddy.