No desire to take over Bajaj Hindusthan: Rahul Bajaj
12 March 2007
Rahul Bajaj, chairman, Bajaj Auto, has denied the charge that he wants to take over Bajaj Hindusthan (BHL).
His cousin Shishir Bajaj's son, Kushagra Bajaj, CEO, Bajaj Hindustan, who has modernised the sugar company and hiked capacity ever since he took charge, has also accused his uncle of wanting to wrest control of the group's sugar business for his younger son, Sanjiv Bajaj.
Rahul Bajaj, in an interview to business channel CNBC-TV18, has said that there was no intention of Sanjiv Bajaj running Bajaj Hindusthan. CNBC-TV18 shares with domain-b its exclusive interview with Rahul Bajaj:
What exactly is happening? Are you indeed trying to wrest control of Bajaj Hindustan?
The ownership control of Bajaj Hindustan has never left me. My nephew Kushagra Bajaj is doing well with Bajaj Hindustan. All allegations made are not correct.
The four brothers including me are ready to make a settlement, which has been arrived at, which includes four parts. Kushagra, for reasons known to him, accepts two but doesn't accept the other two.
I can categorically tell you we have no desire to take control of Bajaj Hindustan for my son or anybody else.
We already have ownership control. They themselves say that they are one and we are four. They have given the shareholding patterns in general. So we own the majority stake in Bajaj Hindusthan. We have no desire even to retain it and we want to give back the shares at the price agreed.