Industrialist Rahul Bajaj is gearing up to join politics as a Rajya Sabha member.

"So far no industrialist has been nominated to Rajya Sabha...if I am nominated, I will be grateful...," he told a private news channel.

Till now, the industrialists who have entered Parliament, have been elected, Bajaj said, adding "I have always called a spade a spade...".

He said once he hands over the day-to-day working of the company to his successors, he would play a more active role in Confederation of Indian Industry, World Economic Forum and on the advisory board of the New York Stock Exchange.

About the Bajaj family dispute, he said though an MoU had been singed with his brother Shishir Bajaj, the settlement could have been more amicable.

On the demand by Shishir Bajaj of an extra Rs 55 crore (Rs 550 million) for his holding in Bajaj Auto, Rahul Bajaj said the demand has come after the MoU was signed and made no sense.

Shishir Bajaj has taken the matter to the Department of Company Affairs but Rahul Bajaj said if the matter was dragged to a court, it would be dismissed and might take time due to slow legal process.

"If he (Shishir Bajaj) wants to sell his stake in Bajaj Auto, he can sell it in the market," Bajaj said.