B K Birla to club some cos

KOLKATA: Having drawn the blueprint to pass on his over Rs 7,000 crore business empire to his daughters and grandchildren, India’s grand old industrialist B K Birla has set about restructuring unlisted companies in the group.

“There are 17 to 18 unlisted companies in the group. We will try to bring down the number to five,” the B K Birla Group patriarch said.

He said that process had been already started and legal formalities would have to be completed, but would take time. These are all investment and trading companies, he said.

Although B K Babu, as he is fondly referred to by those who are close to him, plans to retire in three years when he turns 90, he said his wife Sarala and grandson Kumarmangalam Birla were unhappy with his decision to call it a day.

“She (Sarala) has not accepted the decision. I  have told her that I have been going to office since the age of 17. Now I want to have a peaceful retired life,” he said.
 
Sarala, who was by Birla’s side, said: “I want him to continue in office as long his health permits.”  But Birla, who said  he looks up to his wife for advice on every major issue, insisted he was keen on pursuing his passion for art and culture.