Mutual will of 1982 was irrevocable, say the Birlas Wednesday, September 22 2004 22:30 Hrs (IST)
Kolkata:
Disputing Rajendra Lodha's claim over the estate of M P Birla group, the Birlas today (Sep 22, 2004) submitted before the Calcutta High Court that the mutual will of 1982 was irrevocable as per which the entire property should go to charities.
Continuing his arguments before Justice K J Sengupta the counsel for Birlas, Arun Jaitley, submitted that the doctrine of mutual will has been established by various legal systems across the world as well as in India.
Quoting extensively from various sources across the globe Jaitley submitted that it has been repeatedly established that the survivor of a mutual will could only get benefit during a lifetime, but after death the disposal of the estate had to be done as originally agreed upon by the partners in the mutual will.
He argued that Madhov Prasad Birla and Priyamvada Birla had made a mutual will in 1982 as per which the ultimate objective of the estate was charity and that the will was irrevocable.
Jaitley, who was arguing in support of the caveatable interest of B K Birla in the probate case of the purported will of 1999 of Priyamvada Birla, also said that if the caveat was discharged then the purported will of Priyamvada could not be contested at all.
Six Birla family members including B K Birla had filed caveats against the probate petition of Lodha for legal authentication of the purported will of Priyamvada by which the entire estate of M P Birla group valued at Rs 5000 crore would go to Lodha, a former auditor of the company.