'Bajaj feud to be settled by June'

Within days of announcing that he would step down as the managing director of Bajaj Auto, Rahul Bajaj on Thursday said he expects the family feud with younger brother Shishir to be settled by June this year.

Disentangling crossholdings in group companies has seen the brothers engage in a feud with Shishir on one side while the others, led by Rahul, on the other.

"I expect that everything would be settled by June," Bajaj said on the sidelines of a CII conclave.

With Bajaj, announcing last week that he would step down as managing director and hand over the day-to-day business to his sons Rajiv and Sanjiv from the new fiscal, it was imminent that the family feud of the Bajaj elders was drawing to a close.

Informed sources say that as per the settlement between the brothers, Shishir will buyout Rahul and Madhur Bajaj's stake in Bajaj Hindustan and Bajaj Consumer care.

Rahul and the others will, in turn, buyout Shishir's 5.7 per cent stake in Bajaj Auto.