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Lodha to head Birla Corp
Special Correspondent
KOLKATA:
Rajendra Singh Lodha has been elected Chairman of the board of directors of Birla Corporation Ltd. (BCL), the flagship company of the M. P. Birla group.
He has been on the BCL board for sometime, co-chairing the board with late Priyamvada Birla since 2001, sources said.
The notice was posted on the stock exchanges on Wednesday. It said that P. K. Kaul was appointed additional director on the BCL board at the same meeting of the board of directors held on June 24.
The Rs. 1,363 crore company, engaged mainly in jute and cement manufacturing, has been in the eye of a storm ever since the eruption of the nearly a year-old controversy over the purported Will of Priyamvada Birla, which named Mr. Lodha as the sole beneficiary.
Even as the legal battle forges its own course, this move is being seen as a quiet victory for Mr. Lodha around nine months after the stormy annual general meeting of the BCL last year when minority shareholders had tried to disrupt the meeting by moving the Company Law Board.
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