The Hindu Business Line : Rahul Bajaj expects resolution of family dispute by June

THE Chairman of Bajaj Auto Ltd, Mr Rahul Bajaj, today said that he expected the dispute with his younger brother, Mr Shishir Bajaj, to be resolved by June.

"I wish the family settlement was over by March, but it will be by June-end," Mr Rahul Bajaj said on the sidelines of a conference held here today.

Mr Shishir Bajaj, who owns sugar company Bajaj Hindustan Ltd, wants a premium on the market price for his holding in Bajaj Auto, as he seeks to separate from the group.

Meanwhile, Mr Rahul Bajaj also indicated that he expects to wrap up the purchase of 27 per cent in associate firm Maharashtra Scooters Ltd from the Maharashtra Government by June.

He said he expected Bajaj Auto to post sales of about 1.8 million units in the current financial year.

Bajaj Auto has also worked out its strategy for the international markets. According to a news article in the Jakarta Post, Bajaj Auto has plans to develop a three-wheeler assembly plant that will eventually be expanded into a sports motorcycle manufacturing plant in Indonesia.

The article, quoting a senior company official, stated that Bajaj Auto would make an initial investment of $10 million for the same.

Bajaj Auto will work with its local distributor in India, PT Abdi Raharja, in setting up the plant and distributing the vehicles to be used as public transportation all over Indonesia.

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