Kesoram Industries chairman B.K. Birla (right) with company secretary S.K. Parik in Calcutta on Friday. Picture by Kishor Roy Chowdhury

Calcutta, June 26: Manjushree Khaitan, the youngest daughter of Birla patriarch Basant Kumar Birla, is keen to stay on the Kesoram board even though there is unanimity within the family that Kumar Mangalam Birla will eventually inherit it.

Manjushree had been on the board of the flagship of the Rs 11,000-crore BK Birla group from 2001 as it was generally believed that she was being groomed to take it over.

However, B.K. Birla, who has changed his succession plans several times in the last few years, has decided to hand over the crown jewel in the group to grandson Kumar Mangalam.

At the 90th annual general meeting of Kesoram on Friday, a shareholder suggested that Manjushree should be made vice-chairman of the company.

Birla, who is the chairman, said he would consider the suggestion but made it clear that Kumar Mangalam would inherit Kesoram.

When The Telegraph caught up with Manjushree after the AGM, she said B.K. Birla and Kumar Mangalam would decide her role in the company. “They have to decide what my role will be,” she said.

Asked if she wanted to continue as a director on the board of Kesoram, Manjushree said: “Why not? I want to be in Kesoram.”

She refused to talk about B.K. Birla’s succession plan that leaves over 90 per cent of the empire to Kumar Mangalam, chairman of the Aditya Birla group. “You have to ask B.K. Birla. What can I say about this?” she said.

Last year, the Birla patriarch had said that both Kumar Mangalam and Manjushree would have definite roles in Kesoram but did not spell out what these might be.

“I have been in Kesoram from 1937. I am 89 years old now. After me, Kumar Mangalam will take over. I wanted to retire but Kumar wants me to continue for as long as I can,” B.K. Birla said.

Besides Kesoram, two other firms within the group — Century Textiles & Industries and Century Enka — will go to Kumar Mangalam.

While Manjushree will manage Manjushree Plantation, her daughter, Vidula Jalan, will get Mangalam Timber and Mangalam Cement.

B.K. Birla’s elder daughter Jayshree Mohta will get Jayshree Tea and ECE Industries.

B.K. Birla said he had made a new will about a month ago and all the family members were in accord over its contents.

Kesoram has chalked out an ambitious plan to expand cement and tyre capacity at an investment of Rs 1,550 crore.