The late R S Lodha’s son Harsh Vardhan Lodha questioned whether shareholders’ right to elect a chairman could be curbed while moving an application in the Calcutta High Court challenging a Company Law Board order on Birla Corporation’s AGM.
Appearing before Justice Aniruddha Bose challenging the CLB interim order that he could not be elected Chairman for the AGM,Lodha’s solicitors Fox and Mandal also questioned whether the board could interfere with convening a company’s AGM in accordance with the Companies Act.
Lodha,however,did not seek any interim order and Justice Bose directed the Lodhas and the Birlas,who are fighting several court cases over the assets of the M P Birla group,to argue their cases.
The court admitted appeals by both Lodha and Birla family-controlled Rameshwara Jute Mill against the CLB order and directed that it would hear Lodha’s appeal first.
The Supreme Court had on Monday refused to stay the AGM of M P Birla group flagship Birla Corporation and asked Lodha to seek relief from the Calcutta High Court.
Birla Corporation Director Pracheta Majumdar,chairing the AGM,had adjourned the meeting till August 24.