Chennai: Institute of Chartered Accountants of India today (July 16, 2004) said it could not comment on the Lodha-Birla issue at present, as they were still receiving information about the case.

"It will take seven to 10 days for us to react, as we are still receiving information about the case," ICAI President Sunil Goyal told in Chennai when asked about the issue.

"ICAI can take action, either on the basis of complaints or voluntarily, depending upon developments. We are getting information. There has to be cogent evidence for taking action. As of now, I am not able to comment," he said.

The controversy is over the Will issue, with members of the Birla family expressing reservations over the late Priyamvada Birla bequeathing Rs 5,000 crore worth of Birla property to Lodha, an auditor of the Birla empire.