Tuesday, February 14 2006 15:03 Hrs (IST) - World Time -

Kolkata: Birla family patriarch Basant Kumar Birla today (Feb 14,2006) said two of his companies, Century Textiles and Century Enka, would go to grandson, Kumarmangalam Birla, as per his succession plan but for the time being the companies will be under his control.

"I have already worked out the succession plan for my companies and there is no confusion about it but I will continue to look after these companies till I am active," Birla told sources in an interview here.

The 86-year-old Birla, who is still active and regularly attends office, said Century Textiles and Industries, the flagship company of B K Birla group companies, along with Century Enka would eventually go to Kumarmangalam Birla.

Jayshree Tea and Industries would go to his daughter Jayshree and Kesoram Industries to another daughter, Manjushree, he said.

When asked whether induction of Kumarmangalam in Century Textlies board a few days back was part of the plan to hand over the company to younger Birla, he said, "I wanted him to take over the company but he said he is too tied up with his own companies and wanted me to continue overseeing these companies for the time being."

Kumarmangalam, whose cement and aluminium giant Aditya Birla Group is the third largest corporate entity in the country behind Reliance and Tatas, was inducted into the Century Textiles board on February 7 amid speculation that it may be a part of the plan to merge the company with AVB to further consolidate its position as country's number onecement company.