Bajaj Electricals announced that under the scheme of arrangement between Bajaj Electricals (demerged company) and Bajel Projects (resulting company), the company has licensed the mark 'Bajaj' in favour of Bajel Projects for a period of three years commencing from effective date (i.e. 01 September 2023).
As a royalty, resulting company shall pay to the demerged company a sum equivalent to one percent (1%) of the net sales generated from third-party goods bearing the Licensed Trademark, excluding sales derived from the contract for the supply of goods to the demerged company itself.
Both companies are part of the same group of companies; however, neither company holds shares in the other. Further, the above transaction(s) are on an arm's length basis.
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