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S.BALASUBRAMANIAN
Jodh Raj Laddha – Appellant
Versus
Birla Corpn. Ltd. – Respondent
1.In the matter of M/s Birla Corporation Limited ("the company"), this petition, under sections 397/398, 402, 403 & 406 of the Companies Act, 1956, has been filed by five shareholders with the consent of 134 shareholders. Their combined shareholding works out to 0.0015% of the total issued and paid up capital of the company. Respondents 9 to 27 are companies, which, by interlocking, control substantial shares in the company. Similarly, respondents 28 to 34, which are charitable institutions, are also holding shares in the company. The total shareholding by these respondents in the company is of the order of 62.9%. These respondent companies and the charitable institutions form part of the group known as "M.P. Birla Group". Before her demise on 3.7.2004, Smt. Priyamvada Devi Birla ("PDB") was in control of M.P. Birla Group and thus, also Birla Corporation Limited. By a will dated 18.4.1999, she had appointed one R.S. Lodha, (RSL) a Chartered Accountant, as the executor of the Will and also as the sole beneficiary. He has applied for probate and the same is being contested and as such the probate proceeding is still pending. The company had convened an AGM on 15.9.2004 and this
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