B K Birla alters will

Basant Kumar Birla, son of the legendary Ghanshyam Das Birla and the chairman of the B K Birla group, has changed his will so as to bequeath some of his wealth to Kumar Mangalam Birla's three children, Ananyashree (9 years), Aryaman Vikram (5 years), and Advaitesha (six months).

The octogenarian Birla told Business Standard over telephone from Kolkata: "I changed my will three days ago to include Kumar's newly born daughter. My great grandchildren will get a certain percentage of my wealth."

However, he did not spell out what "the certain percentage" would be.

Birla said he introduced some changes in his will whenever a child was born to the family. Explaining the reasons for finalising a will three days ago, he said he had been thinking of including the new born child in the will but could not do so as he was busy with other engagements.

Asked whether the controversy over the Priyamvada Birla had prompted him to make some changes in his will, he said no.

"I have made several wills to make room for the new born. But this perhaps is the final will," he said, pointing to his age.

According to the will, a company should go to the person who is currently in charge of it and is looking after the day-to-day affairs. Going by this logic, Manjushree Khaitan and Jayshree Mohta "" his daughters "" will get Kesoram Industries and Jay Shree Tea and Industries, respectively.

Both of them are on the boards of the respective companies. He said his grandson, the chairman of the Aditya Birla group, Kumar Mangalam, will receive Century Enka. It is still not decided who will get Mangalam Cement and Mangalam Timber.

Vidula, the daughter of Manjushree Khaitan, will also receive a slice of his wealth. He is bequeathing half of his famed art collection to his daughters and grandson. The other half has been given to the Birla Academy of Art & Culture in Kolkata.