The Annual General Meeting (AGM) of M P Birla group flagship Birla Corporation, which is at present controlled by the Lodhas, was today stalled owing to a stay order by a city court here.
Prabhat Kumar Surekha, a shareholder with 200 shares of the company, moved the Alipore Court on the issue of postal ballots.
Last year too, Birla Corp's AGM was adjourned without considering any of the items on agenda on a court directive.
The M P Birla Group is at the centre of a legal dispute between the Birla family and the Lodhas, who claim ownership of the Rs 5,000 crore M P Birla estate on the basis of a purported will left behind by Priyamvada Birla to the now deceased R S Lodha.
District judge Kalpana Dey passed an ex-parte order of injunction on the holding of the AGM of Birla Corporation.
The AGM was adjourned after the authorities were served a copy of the order by Surekha's counsels.
The Birla Corporation authorities moved the Calcutta High Court challenging the stay order later during the day.
The matter was mentioned before Justice Prasenjit Mondal by the counsels of Birla Corporation.
Justice Mondal fixed the matter for hearing tomorrow morning.
