Date:29/04/2005 URL: http://www.thehindubusinessline.com/2005/04/29/stories/2005042902221000.htm

Back M.P. Birla sisters move CLB against share transfer refusal

Our Legal Correspondent

Kolkata , April 28

THE sisters of late M.P. Birla, Ms Laxmi Newar and Ms Radha Mohta, today moved the Company Law Board (CLB), challenging refusal by East India Investment Co. P. Ltd (EIICPL), a R.S. Lodha-controlled company, to register shares in their name.

Ms Newar and other made an application before the CLB on the conduct of EIICPL, refusing registration of shares in their favour; an application under section 111 of the Companies Act, 1956 was taken out, postulating that on the refusal with regard to having the shares transferred or registered, the aggrieved party can move to the CLB for redressal of the grievance.

The matter has been adjourned till July 2005.