SC rejects Harsh Lodhas SLP

Written by fe Bureau | Kolkata | Updated: Nov 30 2012, 09:30am hrs
The Supreme Court has dismissed Harsh Vardhan Lodhas special leave petition (SLP), which sought relief in the appointment and powers of administrators over Late Priyamvada Devi Birlas estate. The court on November 26 rejected the SLP, which was filed against an order (August 23) of the Calcutta High Courts Division Bench comprising Calcutta High Court Chief Justice JN Patel and justice Soumitra Pal.

The SLP filed by the Lodhas said since the voting rights on the personal holding of shares of Priyamvada Birla was never exercised; there was no necessity to confer voting rights to the administrators. Pointing out to the administrators as strangers, the SLP said after the death of RS Lodha, his heirs have been managing the estate well and the companies have progressed under their control. So strangers should not be allowed to disturb the management of the companies. The position of the administrators is equivalent to that of receivers only.