Dr Birla's will to be known next week
According to reliable sources, the complete succession plan of the Rs 10,000-crore KK Birla Group is likely to be known next week.business Updated: Aug 31, 2008 13:55 IST
The complete succession plan of the Rs 10,000-crore KK Birla Group is likely to be known next week, when the will is opened.
Following the demise of Dr KK Birla on Saturday, the "baithak" (prayer meet) would take place on Sunday, Monday and on Tuesday. "The will is likely to be opened after that," sources close to the KK Birla Group told PTI.
Birla has three daughters Nandini Nopany, Jyotsna Poddar and Shobhana Bhartia.
Given his sugar and textile businesses to Chandra Shekhar Nopany, son of Nandini, the engineering units and Texmaco Ltd would go to Saroj Poddar, husband of Jyoti, the media business would be looked after by Bhartia.
However, the sources said, it is not known who would inherit the fertiliser business of the group, which has two companies Chambal Fertilisers with a turnover of Rs 3,500 crore and Zuari with a turnover of Rs 2,500 crore.
At present these two companies have all the three sons- in-laws on their boards.
The sources said, "Once the will is opened, then it will be clear to whom the fertiliser businesses will go."
Dr Birla left behind around 15 companies, some of which are listed and some closely held.
The sugar companies are Oudh Sugar Mills, New India Sugar Mills, Upper Ganges Sugar and Gobind Sugar.
Dr Birla also created several modern institutions, including the Birla Institute of Technology and Science (BITS) at Pilani, Rajasthan, his birthplace. It also has campuses in Dubai, Goa and Hyderabad.
He had also set up the Dr KK Birla Academy in Delhi to undertake research on scientific, cultural and historical subjects.