INDIA BUSINESS WORLD - OCTOBER 21^st - NOVEMBER 15^th - 2007

SHISHIR BAJAJ ASKS FOR VALUATION FOR ALL GROUP FIRMS

Shishir Bajaj's lawyers have demanded that a valuation be undertaken for all group firms for the division purpose. During proceedings at the Company Law Board (CLB), Shishir's counsel RA Dada said his side wanted a proper valuation of the holding companies which have crossholding in companies controlled by one another. Bajaj Group's holding companies, Bajaj Sevashram, Jamnalal Sons and Bachhraj and Co have shares in all group companies, including Bajaj Auto, Bajaj Hindusthan, Bajaj Electricals and Mukund. The family's investment companies have cross-holdings in all group firms. At present, the Shishir Bajaj group has management control over Bajaj Hindusthan and Bajaj Consumer Care while the remaining units are under the control of the Rahul Bajaj group.