InvestorQ : Can you tell me about the latest ongoing battle between the Lodha group and the MP Birla Group?
Dilmini Mercia made post

Can you tell me about the latest ongoing battle between the Lodha group and the MP Birla Group?

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Dawn Cherian answered.
5 months ago
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This is not a recent battle but it is a battle of succession that has been going on for over 15 years now. Lodhas had claimed to be the rightful successors to the MP Birla group after the death of the chairman. This had caused a tiff between the Lodhas and the Birla Family.

Now, in a fresh move, Harsh Vardhan Lodha has been removed from the boards of 5 investment companies of the M P Birla Group. This is based on the Calcutta High Court order which restrains him from holding office. These investment companies will now be headed by the judicial members of the Administrator Panel Committee.

Obviously, the Lodhas have filed an application in the Calcutta High Court challenging actions of Mohit Shah, chairman of the five investment companies, calling it unilateral. In Sep-20, the Calcutta High Court ordered to restrain Harsh Vardhan Lodha from holding office in any group entity till pendency of suit involving contested will of Priyamvada Birla.

The Birlas will also be filing contempt proceedings against Lodha group for chairing meetings of Universal Cables and Vindhya Telelinks in contravention of the court order. The Lodhas are being represented by legal firm, Fox & Mandal.

The Lodhas have filed applications challenging the removal which will be heard by the Calcutta High Court over the next one week.

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