03 December, 2020

The Pot Of Gold

MP's estate goes to an outsider. The clan is up in arms. Updates

The Pot Of Gold
outlookindia.com
-0001-11-30T00:00:00+05:53
The Birlas aren’t known for their flocking-together ways. The family members squabbled bitterly in 1986 over patriarch G.D. Birla’s will which ended up giving much more to favourite grandson, the late Aditya Vikram Birla, than to others. Similarly, when S.K. Birla desperately needed funds to make up for the huge losses incurred in Malaysia on speculative activities in the palm oil business there, none of the relatives bailed him out. In the end, SK lost his Malaysian companies.

So it was quite surprising when all the male members—Basant Kumar, Ganga Prasad, Sudarshan Kumar, Kumar Mangalam (who inherited the A.V. Birla group) and Yashovardhan—united together on July 13. That day, Rajendra S. Lodha, a chartered accountant and the auditor for several Birla group companies, read out the will of the late Priyamvada Birla. The four-line document stated that M.P. Birla’s widow, who died on July 3 without a heir and controlled a business empire of Rs 5,000 crore apart from other properties, had given everything to a rank outsider, Lodha himself.

unsub

THIS ARTICLE IS PRICELESS...

To read this piece, and more such stories in India's most exciting and exacting magazine, plus get access to our 25-year archives goldmine, please subscribe.


More from Charubala Annuncio


Latest Magazine

December 07, 2020
content

other articles from the issue

articles from the previous issue

Other magazine section