The Supreme Court on Monday directed the Chennai bench of Company Law Board (CLB) to hear on a daily basis the dispute between the warring factions of The Hindu group of publications.
N Ram's move to professionalise the working of the company has been challenged by his younger brother N Ravi.
A bench headed by Chief Justice of India SH Kapadia ordered the day-to-day hearing of N Ravi's company petition challenging the group's shareholders' decision to oust the family from top editorial positions.
The SC order came on Ravi's appeal challenging the July 1 Madras high court verdict that set aside the CLB order staying the implementation of Ram's plan. The SC, however, refused to stay the HC order.
The CLB had stayed the implementation of the shareholders' decision to bring in outside professionals at top editorial positions after Ravi contested his brother's decision to appoint Siddharth Varadarajan, The Hindu, National Bureau Chief, as the chief editor.
The CLB had stayed the decision taken by the extraordinary general meeting of the Hindu shareholders till Ravi's company petition was disposed of. The EGM had passed the resolution on May 20 paving the way for professionalising the working of the 132-year-old media firm.
Ram moved the HC against the order, contending it was not maintainable.
He claimed CLB wasn't empowered to decide the succession plan of an organisation.
Following the HC order, Vardarajan's appointment had to be put up at the next board meeting.
The HC had, however, directed the CLB to decide Ravi's company petition at the earliest, preferably within six months.