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Bajoria's version to CLB within two days in Bombay Dyeing case

Jute baron Arun Bajoria will report his submissions to Company Law Board within next two days in connection with Bombay Dyeing's takeover bid even as he made it clear not to leave his claim for representation on the board of the company.

"I will report my submissions to CLB within the next two days asking them to lift the ban on voting rights imposed upon the shares held by me. A hearing might take place within this month," he said.

Bajoria said he will not only seek lifting of ban on voting rights of shares held by him, but also seek representation in the board of the company.

Nusli Wadia managed Bombay Dyeing had approached CLB and asked for freezing the voting rights after Bajoria acquired 14 per cent of the shares in the company.

Based on Bombay Dyeing's contention that Bajoria had violated the takeover code by not informing the company when his holdings crossed five per cent limit, CLB had frozen the voting rights of entire shares held by the jute baron.

He, however, had claimed that he had informed the company as well as Calcutta Stock Exchange through a letter about his over 5 per cent holding in Bombay Dyeing.

He also claimed to have informed the Securities and Exchange Board of India about the development through a letter dated August 4, 2000 even as the market watchdog's vigilance wing representative reportedly met Bajoria and CSE last week.

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