Bajaj brothers to resume battle at CLB

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Bajaj scions Rahul and Shishir, who are battling for division of the empire, are expected to inform the Company Law Board about the outcome of their peace talks on January 13.

As per a CLB schedule, it would resume hearing on the four-year-old case on Monday and counsels representing the Bajaj brothers are expected to inform the board about the outcome of their efforts for an out-of-the-court settlement.

On November 26 last year, both the factions informed CLB that the negotiations on an amicable agreement was still in progress.

In October, CLB had directed the two sides to prepare a report and submit the contentious issues that have stopped them from reaching an agreement. However, no further movement was made in this regard on November 26.

The feuding brothers are expected to file this report on January 13.

In the last hearing, Shishir's side had accused Rahul of mismanagement and oppression in the group holding companies.

Both sides have already terminated a Memorandum of Understanding signed between them three years ago.

The Board had allotted Shishir Bajaj three days of consecutive hearing from January 14.