Demerger not to accommodate sons: Bajaj

Rahul Bajaj, chairman, Bajaj Group today said he will continue to head the boards of Bajaj Auto as well as the two new entities created from the demerger of the flagship company while rebuffing suggestions that the move was to spilt the group.

"I will be the chairman of all the three companies. It is not a split of Bajaj Auto," Bajaj told PTI from Mumbai.

He said his younger son Sanjiv will continue to be the executive director in Bajaj Auto, the manufacturing arm, virtually debunking reports that the demerger was to create separate entities for the next-generation Bajajs.

There have been reports that the company was being divided to accommodate his two sons - Rajiv and Sanjiv.

He said the board structure of the existing entity Bajaj Auto would remain unaltered, while the boards of the two new entities - Bajaj Holdings and Investment and Bajaj Finserve - would have Rajiv Bajaj, Sanjiv Bajaj and Madhur Bajaj as directors.