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HC approves Bajaj Auto demerger
February 19, 2008 14:31 IST
The Bombay high court has sanctioned the demerger of Bajaj Auto Ltd's [Get Quote] automobile and financial services businesses into two separate independent entities.
While Bajaj Holdings and Investment Ltd would administer the two and three wheeler manufacturing business, Bajaj Finserv Ltd would be responsible for the company's financial services business, including insurance and auto finance.
"The high court... vide order dated December 18, 2007 received by the company on February 19, 2008 has sanctioned the scheme of arrangement between the company, Bajaj Holdings and Investment Ltd and Bajaj Finserv Ltd and their respective shareholders and creditors," the company said in a communique to the Bombay Stock Exchange.
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