Calcutta, Aug. 11: A section of the shareholders of Birla Corporation today moved an appeal in the high court, challenging an earlier company law board (CLB) verdict that refused to pass an order to ascertain who was controlling Birla Corporation, the MP Birla group flagship company.

Appearing for the petitioners, senior counsel Sudipto Sarkar prayed for setting aside the April 25 order of CLB and sought a fresh hearing on the case.

Arguing in the court of Justice Indira Banerjee, he said since the order did not spell out who was in control of Birla Corporation, it was a fit case for further investigation.

But Jayanta Mitra, who was arguing for Birla Corporation, submitted that there was no ambiguity in the April 15 order of CLB and claimed that the petitioners had a minuscule percentage of holding and the application was malafide and it should be dismissed.

According to him, the CLB clearly mentioned that since the controlling interest in the company was with the estate of Priyamvada Birla, wife of M.P. Birla, there was no need to order an investigation.

Justice Banerjee adjourned the hearing on the matter till August 18.

Administrator

Resuming argument in connection with the Birla family’s plea for appointment of an administrator over the estate of the MP Birla group, senior counsel S. Pal said the conduct of R. S. Lodha during the legal proceedings was a strong enough case for appointment of an administrator.

Pal alleged that Lodha’s conduct was not above board and he did not co-operate with the court-appointed team of special officers, who were given the responsibility of preparing an inventory of assets.