INDIA BUSINESS WORLD - APRIL 1st - APRIL 15th - 2008
SUPREME COURT QUASHES BIRLAS’ PLEA ON PRIYAMVADA WILL
In a setback to the Birlas, the Supreme Court has dismissed the petitions of KK Birla, BK Birla and Yashovardhan Birla in the case involving the late Priyamvada Birla’s will. The apex court also imposed a fine of Rs 2.5 lakh on them while allowing an appeal of RS Lodha, Priyamvada Birla’s chartered accountant on whom she had conferred her estate worth Rs 5,000 crore. Mr Lodha had challenged the appointment of Yashovardhan Birla as an executor of the will of Madhav Prasad Birla of 1982 in place of Priyamvada Birla.
A bench comprising Justice SB Sinha and Justice HS Bedi said, “ submission that RSL(Lodha) is an outsider and the bequest is unnatural does not appeal to us. Such a question cannot be determined at this stage. Why an owner of the property executes a will in favour of another is a matter of his/her choice. One may by a will deprive his close family members including his sons and daughters. She had a right to do so. The court is concerned with the genuineness of the Will. If it is found to be valid, no further question as to why did she do so would be completely out of its domain. A will may be executed even for the benefit of others including animals”.
Separately, the apex court also asked the Calcutta High Court to decide the probate proceedings as expeditiously as possible.
Reacting to the judgement in Kolkata, the Lodhas were jubilant as the Supreme Court has fined the Birlas. Even the Birlas were happy as they claimed they have managed to get the 1999 will of Priyamvada Birla heard first.
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