Kolkata: Harsh Vardhan Lodha has been appointed chairman of Birla Corp. Ltd—the flagship firm of the MP Birla group—capping more than a year of lawsuits that restrained him from taking over as chairman after his father, R.S. Lodha, died on 3 October last year.
Birla Corp. said on Friday that its board took a unanimous decision to appoint Harsh Vardhan Lodha as its chairman.
R.S. Lodha had become chairman of the group in 2004 after MP Birla’s widow, Priyamvada Birla, bequeathed her entire estate to him.
The Birla family moved court challenging the validity of the will.
Though the authenticity of the will is yet to be established in court, the Lodha family currently controls MP Birla group firms.
The Company Law Board on Monday dismissed a petition filed by a group of shareholders within days of R.S. Lodha’s death, seeking to restrain Birla Corp. from appointing Harsh Vardhan Lodha as chairman.
Harsh Vardhan Lodha is expected to take over next week as chairman of Universal Cables Ltd, a MP Birla group firm.
Its board is likely to meet on 30 October, a group official said on condition of anonymity.