News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 18 years ago
Rediff.com  » Business » Firodias get reprieve as SC rejects Bajaj plea

Firodias get reprieve as SC rejects Bajaj plea

By BS Corporate Bureau in New Delhi
June 02, 2005 08:37 IST
Get Rediff News in your Inbox:

The Firodia family, which controls Force Motors (formerly Bajaj Tempo), on Wednesday got a reprieve from the Supreme Court when it refused to admit a special leave petition filed by Bajaj Auto challenging the name change to Force Motors.

Dismissing the petition, the Supreme Court said the case would be admitted only after the Bombay High Court delivered its verdict.

The Bombay High Court had in April 2005 admitted the writ filed by Bajaj Auto challenging the name change but had refused to give a stay, following which Bajaj Auto filed the special leave petition in the Supreme Court.

The Firodias were represented by former law minister and senior Supreme Court lawyer Arun Jaitley while Bajaj Auto was represented by Mumbai-based lawyer J J Bhat.

The case was heard by a Vacation Bench comprising Justice P V Reddy and Justice Arjit Passayat.

The Bajaj family, which holds close to 24 per cent in the light commercial vehicle company, has said a name change from Bajaj Tempo will have to be effected through a special resolution, while the Firodias went ahead with the name change through an ordinary resolution.

A special resolution would have forced the Firodias to get the consent of the Bajaj family, which could have stalled the name change.

The feud over the name change started early this year, when DaimlerChrysler, owner of the Tempo brand name, asked Bajaj Tempo to stop using the name.

While acceding to this request, the management of the company also dropped the name Bajaj and re-christened the company Force Motors.
Get Rediff News in your Inbox:
BS Corporate Bureau in New Delhi
Source: source
 

Moneywiz Live!