Rahul Bajaj's sister gives up 'promoter' tag at Bajaj Auto

Suman Jain, sister of chairman Rahul Bajaj, tagged herself as an ordinary shareholder in the firm

In a rare case of suo motu re-classification, Suman Jain, sister of Bajaj Auto Chairman Rahul Bajaj, has tagged herself as an ordinary shareholder in the automaker.

In a letter addressed to the Bajaj Auto chairman, she claimed although she is an immediate relative of Bajaj, she didn’t have any role to play in the daily operations of the company. 

This move will substantially reduce regulatory obligations and compliance liability of Jain as she will no longer be treated as an “insider” under the Securities and Exchange Board of India’s (Sebi’s) prohibition of insider trading rules.

Jain, who holds 0.36