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Our Bureau

Pune , April 5

EVERYTHING went on smoothly today at the extraordinary general meeting of Bajaj Tempo Ltd, which is in the news for deciding to go for a name change.

Over 500 votes were polled at the EGM, though no results were made known.

Talking to newspersons, Mr Dinesh Munot, Managing Director, ZF Steering Gear (India) Ltd, and a shareholder of both Bajaj Tempo and Bajaj Auto, said the results of the poll conducted today would be declared void if the Mumbai High Court decided to admit the writ petition against the name change, from Bajaj Tempo Ltd to Force Motors Ltd.

It may be recalled that Bajaj Auto, the 24 per cent stakeholder in Bajaj Tempo, had taken up the matter with the Regional Director (Western Region), Ministry of Company Affairs, and requested for calling in Section 22 of the Companies Act 1956.

This section refers to an ordinary resolution being made into a special resolution and if taken up as a special resolution would require 75 per cent majority to pass the resolution. Otherwise a simple majority would do.

While Bajaj Auto supporters felt there was no need to change the name that had been there for the past 50 years, those behind Bajaj Tempo pointed out that it had always created confusion in the minds of the people as also in the market, especially when they knew it as a Firodia-run enterprise with a Bajaj tag.

Mr Munot said that he, along with other shareholders, was of the opinion that the name change to Force Motors Ltd would be for the betterment of the company while removing the confusion from the customers' mind.

Mr Abhay Firodia, Chairman and Managing Director, Bajaj Tempo, while addressing the shareholders said that none of the Firodia group companies had a Firodia tag to it as they had ensured that they followed the N.K. Firodia rule.

He also made it clear that even the new entity would not have a Firodia tag to it but an entirely new name. Suggestions were also made by Bajaj Auto supporters to have the new name as Bajaj Firodia Motors Ltd, he added.

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