New Delhi: The Bajaj brothers on Tuesday tried to play down reports on an imminent demerger of the company, saying the areas of specialisation of the two brothers are different and hence it's simply division of work.
There have been reports that Bajaj Auto is being carved into automobile and finance entities owing to differences between Rahul Bajaj's two sons - Rajiv and Sanjiv. But Rajiv Bajaj tried to explain the issue differently, saying he and younger brother Sanjiv "were specialists in different areas." He also declined to take any query on reports of demerger of Bajaj Auto.
"He (Sanjiv) keeps the company's books and I make the bikes. I can't keep the books and he can't make bikes," Rajiv Bajaj, the Managing Director of Bajaj Auto, said about the division of work. He was addressing the media at the launch of the company's new 200cc bike 'Pulsar'.
Bajaj Auto Chairman Rahul Bajaj, too, has gone on record, saying the company would put up a proposal before its board latest by May to consider hiving off its financial and investments businesses into two separate entities to utilise its cash surplus. The plan assumes significance given the reported rift between his sons Rajiv and Sanjiv. Bajaj senior had, however, rubbished reports of differences between his sons.
"I am proud of my sons. They have done a wonderful job for the company. They are individuals in their own right and if you call it differences, then so be it," he had said.
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