| |
| | |  Advertisement | | |
| |
September 06, 2007 14:59 IST
An out-of-court settlement for division of the Bajaj empire appears unlikely anytime soon, with patriarch Rahul Bajaj accusing younger brother Shishir on Thursday of raising additional demands that cannot be met.
"From our side we are offering what they wanted earlier. Now they (Shishir's side) are asking for more, which we can't give them now," Bajaj told reporters here on the sidelines of ACMA annual convention in New Delhi.
His comments come days after the Company Law Board adjourned hearing on the family settlement case to October 22, asking the two warring factions to settle the issue amicably.
The two side have been trying hard to hammer out a mutual agreement, but have so far been unable to do so.
Bajaj, however, said he was trying hard from his side to settle the matter as there were still some weeks to go for the next hearing of the CLB.
"In case we do not succeed then we do not have any option but to go to court... we will try our best and hope that something happens this time," he said.
When CLB resumes hearing, the two sides are expected to report about the outcome of their negotiations. If they fail to reach a settlement by then, the Board would resume its scheduled procedure and hear the case for three consecutive days from October 23-25. The four-year-old case has reached the final stages of argument.
© Copyright 2007 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
|
| |
Email this Article 
Print this Article