Kolkata: Rajendra Singh Lodha, engaged in a bitter legal battle with Birla family for control of the M P Birla Group, yesterday (Sep 15, 2004) appeared to have a smooth ride as he not only chaired the annual general meeting (AGM) of the Birla Corporation but all six resolutions that were put to vote were carried with requisite majority.

The resolutions pertaining to adoption of balance sheet, declaration of dividend, re-appointment of K K Birla's daughter Nandini Nopany as director, appointment of statutory and branch auditors, re-appointment of K C Mittal as managing director and not filling up the vacancy caused by the demise of Priyamvada Birla were carried with requisite majority.

Birla Corporation officials said after the counting in the late evening that 99.99 per cent of shareholders voted for the resolutions while only 0.01 voted against it.

The outcome of three other resolutions pertaining to reappointment of Rajendra Lodha, Vikram Swarup and Pracheta Majumdar, which were also separately put to vote as per Company Law Board (CLB) order on a petition moved by a section of shareholders, was withheld as per the directive and would be announced by the Board on November 22.

The proceedings at the AGM, however, were delayed by a couple of hours following pandemonium in the meeting after a section of shareholders put up a strong opposition to Lodha chairing the meeting.

Earlier more than one hundred shareholders had moved the CLB seeking the ouster of Lodha as director and a stay on the AGM. The CLB, however, rejected the plea and gave the go ahead to the meeting.