- (1.) LEAVE granted.
(2.) INTRODUCTION What is a caveatable interest within the meaning of the Indian succession Act, 1925 (1925 Act) vis-a-vis the Rules framed by the Calcutta high Court in the year 1940 is the question involved herein. Background FACTS - Smt. Priyamvada Devi Birla (PDB) and her husband Madhav Prasad birla (MPB) were admittedly very wealthy persons. They owned an industrial empire known as the MP Birla Group of Industries. They were issueless and known for their charitable disposition. They used to run several charitable institutions. Both MPB and PDB are said to have executed mutual wills on identical terms on or about 10th May, 1981 bequeathing his/her respective estate (s) barring certain specific legacies to the other and on the death of the survivor to the 'charities' to be nominated by the executors. However, the said wills were revoked and another set of mutual wills were executed on 13th July, 1982 in terms whereof, four executors were appointed in each set of Will (1982 Will ). The executors nominated in MPB's Will were :-1. Smt. Priyamvada Devi Birla (PDB)2. Krishna Kumar Birla (KKB)3. Kashinath Tapuria and 4. Pradip Kumar Khaitan ; whereas the executors nominated in PDB's will were :-1. Madhav Prasad Birla (MPB)2. Ganga Prasad Birla (GPB)3. Kashinath Tapuria 4. Pradip Kumar Khaitan
(3.) MPB died on 30th July, 1990. On or about 18th April, 1999, PDB executed her last Will (1999 Will)bequeathing her entire estate to the first respondent i. e. Rajendra Singh lodha (RSL ). He was also appointed as the sole es. xecutor. She executed a codicil S. April, 2003.;