Shishir had no right to file for division: Rahul

Bajaj patriarch Rahul Bajaj today contended before the Company Law Board (CLB) that his younger brother Shishir had no right to file a case for division of the family business.

Ashok Desai, former Attorney General and counsel for Rahul Bajaj told the CLB that the petition filed by Shishir was not maintainable. He argued that Shishir's case was for partition of the group and a family matter and so the CLB had no jurisdiction in such cases.

He also said that Shishir, who filed the case against Bajaj Sevashram during his tenure as chairman of the group holding company, had no right to do so.

Desai also contended that Shishir did not have any rights either as a shareholder or as a chairman to file the petition asking for "winding up of the group", for under the Company Act, 1956, a person should be "oppressed" to file a case for winding up and Shishir had no reason to do so as chairman of the company.

The CLB has posted the next hearing of the case in March.