The Supreme Court on Monday cleared the decks for the final battle between the Birlas and RS Lodha over the 1999 will of the late Priyamvada Birla, dismissing the claims of three Birlas to have a say in the will and the underlying Rs 5000-crore empire.
Justices SB Sinha and HS Bedi dismissed the special leave petitions of KK Birla, BK Birla and Yashovardhan Birla?while upholding that of GP Birla?claiming a caveatable interest in the 1999 will by which Priyamvada Birla left the business empire and estate of her late husband Madhav Prasad Birla to Lodha, a professional manager who was running the show.
Now, nearly three years and nine months after Priyamvada Birla?s death on July 3, 2004, the high court can begin hearing the main probate petition.
Debanjan Mandal of Fox & Mandal, Lodha?s solicitors, announced: ?It is now conclusively settled that Mr Lodha?s contention (that KK, BK and Yash have no say) is correct.?
But the Birlas also claimed victory and refused to see the judgment as a crushing blow. NG Khaitan of solicitors Khaitan & Co declared grimly: ?The final battle begins!?
Khaitan said he had ?all along? wanted the focus on the core issue? the 1999 will?and are happy that the ?peripheral? issues of who has a say or not are out of the way.
The Supreme Court, upholding a March 2005 and December 2006 order of a high court judge and division bench, respectively, also imposed costs of Rs 2.5 lakh on each of those whose challenges were dismissed on Monday.