Rahul Bajaj to step aside as Bajaj Auto MD
New Delhi: The Chairman and Managing Director, Rahul Bajaj, 66, on Friday said that he would like to step down as managing director of Bajaj Auto and make way for his sons to take hands-on control. He will, however, continue as the Chairman.

"I am stepping down from March 31," Bajaj told reporters on the sidelines of a business conference held here. He said his elder son, Rajiv Bajaj, who is joint Managing Director of Bajaj Auto, will take over as Managing Director from April 1 and will be handling the production, marketing, supply chain, manufacturing and production engineering at the company.

He also said his other son, Sanjiv Bajaj, who is currently an Executive Director (Finance) at Bajaj Auto, will manage the company's international marketing, costing, legal services, and treasury operations among other responsibilities.

Rajiv Bajaj has been working with the company since 1990 and was appointed Joint Managing Director in March 2003.

The Bajaj family currently owns 51 per cent of Bajaj Auto.
Meanwhile, referring to the ongoing row with brother Shishir Bajaj, Rahul Bajaj also said that he expects a family settlement in about three months time.
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SCOPE award for NTPC chief
New Delhi: The Chairman and Managing Director of National Thermal Power Corporation Ltd, C.P. Jain, has won the SCOPE Award for excellence and outstanding contribution to the public sector management in the individual category for the year 2003-04, according to a company release.

In the institutional category, IOC bagged the Gold Trophy while HSCC (India) Ltd and Water & Power Consultancy Services (India) Ltd shared the Silver trophy in the small public sector category. SAIL got the silver trophy in the turnaround category.
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