Back Story: How a fratricidal fight shaped Rahul Bajaj’s resolve for a family settlement

Rahul Bajaj, a doyen of Indian industry, passed away in Pune at the age of 83. Always forthright and fearlessly outspoken, he won his spurs in business as a tough and visionary leader who grew the small firm dealing in scooters, cement and electrical appliances that he inherited from his father Kamalnayan Bajaj in 1968 to one of the country’s largest business houses.

The titan also successfully passed on the baton to his two sons Rajiv and Sanjiv, with the former put in charge of the two-wheeler business while the latter built Bajaj Finserv, the financial products company. By doing that Bajaj sought to avoid the generational curse that has visited many Indian business families brought to their knees by feuding scions.

After all, he had first-hand experience of the consequences of such a dispute. In 2002, he and his younger brother Shishir who controlled Bajaj Hindustan and held a stake in Bajaj Auto, had a bitter falling out over issues of control. Shishir accused his brother of seeking to oust him from the chairmanship of Bajaj Sevashram, the main holding company of the group.