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Shishir Bajaj departs from Bajaj Electricals following a family Dispute

Shweta Suri


The six-year long family dispute has finally come to an end after Shishir Bajaj and two other family members took an exit route by selling off their 2.05 percent stake in Bajaj Electricals. According to a disclosure made by Bajaj Electricals to the Bombay Stock Exchange (BSE), three stakeholders-Shishir Bajaj, Minakshi Bajaj and Kushagra Bajaj, have sold off their 2.05 percent stake represented by 3,68,000 shares of the company.


The deal was initiated as an off-market inter se transfer of shares between the promoters without any consideration. After the transaction, the paid-up capital of the company remains at Rs 17.28 crore.


According to the settlement agreement between the Bajaj brothers, Bajaj Hindustan and Bajaj Consumer Care will now be led by Shishir Bajaj; and Rahul Bajaj and other three members including, Shekhar, Madhur and Niraj, would sell off their stakes in both the companies. Other companies including Bajaj Auto, Bajaj Electricals, Bajaj Finserv, Mukund, Hercules Hoist and Bajaj Holding and Investments will now be mentored by Rahul Bajaj led group.

 
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