B K Birla's succession plan not yet complete

The succession of B K Birla group companies is not yet complete as a decision on who will inherit Mangalam Cement and ECE Industries is yet pending. Also the formal announcement on Mangalam Timber Products, which may to go to granddaughter Vidula Jalan, is yet to be made.

The 87-year-old Birla, speaking to reporters on the sidelines of Kesoram Industries AGM on Friday, indicated that Jalan might get Mangalam Timber. "She may," he said. He said a decision on Mangalam Cement and ECE Industries has not been taken.

                                      Kumar Birla to get Kesoram Industries

Birla on June 27 announced his altered succession plan in which Kesoram was to go to Kumar Mangalam Birla. According to the new plan, the reins of Kesoram, Century Textiles and Century Enka's would go to him.

Birla's daughter Jayshree Mohta would get Jay Shree Tea, while another daughter Manjushree Khaitan has nothing on the table as of now. According to a previous succession plan she was tipped to get Kesoram.

"She (Manjushree) will get something," Birla had said. Manjushree currently heads Manjushree Infotech, an ITeS unit. Jalan, daughter of Manjushree, is already on the board of Mangalam Timber. Sources in the group said though B K Birla's present succession plan was firm, but yet to be incorporated in his will.

"Birla babu wants his group companies to see growth under able hands and does not want any of his successors to be unhappy. He wants to strike a balance between the two. However, there is no opposition to his current plan," the sources added.