Bajaj refuses to budge on demand for shares - Daily News & Analysis

Bajaj Auto, the second-largest motorcycle manufacturer in the country, on Wednesday said it is not ready to negotiate on the demand for allotment of shares to Chakan workers who have been on strike for the past 22 days. Rajiv Bajaj, managing director of Bajaj Auto, told reporters the company is ready to negotiate other demands made by the workers, while the demand for allotment of the shares will not be met. "It is a false hope given to the workers. We are obliged to give wage and not shares to anyone," he said. "As of now, not one share has been given free of cost to any Bajaj Auto employee in the past, even to the senior and top management of the company. So where is the question of giving shares to the workers? The Chakan plant has been shut for 21 days. Even if it is shut for 500 days, we will not give shares to anyone. They will have to drop the demand of shares for free of cost or virtually free. We are busy dealing with other issues. We have to compete with Honda," he said. Production and discipline have to be restored to normal before meaningful dialogue can take place, the company said. It also said that cases of suspension pending enquiry – there are 21 right now – will be reviewed by the management. The Pune labour court on Wednesday dismissed an adjournment application made by union leader Dlip Pawar of Vishwakalyan. The next hearing will be on July 22. On the show-cause notice issued by the Pune labour commissioner last week, the company said it only received the notice last Saturday and has sought 15 days to reply to the notice. via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHQnh7plXnfT2C-0mhYLJxDdTlejw&url=http://www.dnaindia.com/money/1862504/report-bajaj-refuses-to-budge-on-demand-for-shares

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