Birla Corporation on Wednesday said the Company Law Board had dismissed a petition to postpone June 23’s annual general meeting here.
A company release said the CLB “in its order dated June 14 dismissed the petition filed by the Birla Education Trust and other Birla concerns seeking stalling of the AGM of Birla Corporation.”
The Birla Education Trust and other Birla concerns had also moved the CLB to freeze voting rights of MP Birla Group shareholders and seek a stay on the reappointment of Harsh Lodha as director. The final hearing on the cases is slated for July.
The Birlas and Lodhas are fighting a bitter legal battle since 2004 over Priyamvada Birla’s purported will which bequeathed all MP Birla Group assets to the Lodhas.
Last year too, the annual general meeting was put off twice till the Company Law Board allowed it in October. At the scheduled date of July 27 last year, a section of shareholders refused to accept Lodha as AGM chairman and the annual general meeting had to be adjourned and postponed.