New Delhi: Bajaj Auto chairman Rahul Bajaj on Friday said that his sons, Rajiv and Sanjiv, would continue to be part of the company even after the proposed de-merger takes place.
"Both the boys will clearly continue to be in Bajaj Auto, no doubt about it," PTI quoted Bajaj as saying.
However, he said that his younger son Sanjiv may probably spend more time on the new de-merged company or companies.
Bajaj reiterated that plan to demerge the company's financial and investments business into a separate entity was based on the intention of unlocking shareholder value.
He said that the decision on de-merger is not because of the reported "rift between the brothers".
"You cannot simply divide a company between individuals when you have so many shareholders interest to be taken into consideration," PTI quoted him as saying.
The Board of Bajaj Auto is likely to take up the issue of de-merger in its meeting in May or July, he added.
Executive Director of BAL Sanjiv said that the de-merger process was being evaluated at the moment and it would depend on what kind of impact it would have on BAL.
"If the cash flows of BAL continue to be positive after the de-merger, probably the Board will give a go ahead. But if it is going to be negative, I don't think the Board will approve of it," he said.
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