BK Birla Group could see more changes
The succession issue of the BK Birla Group might see a few more changes with the Birla family patriarch BK Birla hinting on Friday that group company Mangalam Timber Products Ltd might go to granddaughter Vidula Jalan, reports Jaidev Majumdar.business Updated: Jun 29, 2007 22:33 IST
The succession issue of the Basant Kumar Birla Group might see a few more changes with the Birla family patriarch BK Birla hinting on Friday that group company Mangalam Timber Products Ltd might go to granddaughter Vidula Jalan.
Mr Birla, speaking to reporters after flagship company Kesoram Industries’ annual general meeting in Kolkata, said that he is yet to put final touches to the succession plan of his group companies.
He added that his grandson Kumar Managalam Birla, tipped to get the lion’s share of the BK Birla empire, had insisted that he (Mr BK Birla) continues to run the companies “as long as he is active.”
“I wish to go on as long as I’m 90,” the 87-year old Mr Birla said.
Vidula Jalan is the daughter of Mr BK Birla’s daughter Manjushree Khaitan and she is currently on the board of the Orissa-based Mangalam Timber. However, the patriarch said no decision has yet been taken. The same holds true for other group companies—Mangalam Cement and ECE Industries.
Mr Birla had sprung a surprise on Wednesday by saying that the succession plan of 2001 had been altered with group flagship company Kesoram Industries Ltd slated to go to Kumar Mangalam Birla and not daughter Manjushree as was thought earlier.
According to the new plan, the reins of Kesoram, Century Textiles and Century Enka would go to Kumar Mangalam, while Mr BK Birla’s daughter Jayshree Mohta would get Jay Shree Tea.