Rahul Bajaj's attempts to induct his cousin Niraj Bajaj and son Sanjiv Bajaj on the boards of Bajaj Sevasram and Jamnalal Sons -- the two group holding companies -- has hit a wall with the Bombay High Court declining to entertain the petition filed by him.
The high court on April 12 extended the date of filing of a reply by Rahul Bajaj group on the notice issued by Company Law Board to May 31 while giving six weeks to Shishir Bajaj's group to file a rejoinder to it.
"It is agreed and ordered the Board of Directors' meeting of original respondent no 1 (Bajaj Sevasram) and 2 (Jamnalal Sons) shall not be held during the pendency of the application for ad-interim relief," the court said in its order.
It further said if Shisir's application,
on which CLB has granted a stay on board meetings, was to be refused, then also no meeting would take place for two weeks from the date of such order.
Disposing the petition filed by the Rahul Bajaj group, a single member Bench of Justice D Y Chandrachud termed the appeal as 'infructuous' and said it 'does not survive'.
Earlier, CLB had directed Bajaj Auto chairman Rahul Bajaj to file a reply by March 30 and to Shishir a rejoinder on that by April 15. It had fixed the matter on May 28 and 29 for arguments.
The high court also directed the CLB to hear the matter on a date on joint application of both Bajaj camps. On March 12, accepting an application filed by Shishir Bajaj, CLB stayed all board meetings of Bajaj Sevashram and Jamnalal Sons Pvt Ltd.
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