Lodha files caveat on Birlas' probate application Wednesday, August 18 2004 16:47 Hrs (IST)
Kolkata:
A day after Birlas moved to probate two mutual Wills of M P Birla and his wife Priyamvada Birla by which the entire assets of M P Birla group would go to charities, their auditor and purported inheritor of the assets, Rajendra Lodha, decided to challenge it.
Two caveat applications were filed on behalf of Lodha before the Calcutta High Court to secure his Right to be heard when the probate applications for two "Wills" submitted by the Birlas were taken up for legal authentication, his solicitors said in Kolkata today (Aug 18, 2004).
Lodha, an auditor of a number of Birla companies, had already claimed that the entire assets of M P Birla group worth Rs 5000 crore was bequeathed to him by a purported Will of Priyamvada Birla made in April 1999. He had earlier filed an application to probate the same Will that has already been challenged by the Birlas.
"We are taking all necessary legal steps to counter the probate applications filed by the Birlas yesterday (Aug 17, 2004)," Lodha's solicitor Debanjan Mondal said adding "we are readying ourselves for the notice from the Registrar-in-Insolvency and will file our opposition to their claim in due time."
Birlas had claimed that as per the mutual Wills made in 1982 the M P Birla group assets would go to charities after the death of Madhav Prasad Birla and his wife, Priyamvada Birla.
"Lodha is neither a rightful nor a lawful executor and he is inter-meddling with the estate of M P Birla and he should return which has come to his hand," Birlas solicitor N G Khaitan had declared.