The Calcutta high court on Thursday set aside a trial court order appointing four administrators to Priyamvada Birla's Rs 5,000-crore (Rs 50 billion) estate, which includes the flagship Birla Corporation and several other companies of the M P Birla group.
A division bench comprising Justice P C Ghose and Justice T K Dutta, while setting aside the order of Justice K J Sengupta appointing the four administrators to the estate, directed Lodha not to sell any part of it or spend any amount from it except for its maintenance.
Disposing of the appeal filed by Lodha against the May 19, 2006, order of Justice Sengupta, the division bench directed that Lodha would have to maintain separate accounts for
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