The tussle between two-wheeler giants Bajaj Auto and TVS Motor over patent infringement was expected to result in some fireworks at the annual conference of the Society of Indian Automobile Manufacturers (SIAM). However, both Sanjeev Bajaj and Venu Srinivasn showed unusual bonhomie and even posed for photojournalists. They also avoided comments on the patents issue.
TVS Motor Company Managing Director Venu Srinivasan said: “All I can say is we are confident of what we are doing. We are the most tax savvy company. We are taking the advice of our counsel.” He said Flame — the new 125 cc bike from the TVS stable — was practically ready to sell and will be out in November.
Bajaj Auto Managing Director Rajeev Bajaj said the company would wait for TVS’s Flame to be out in the market to decide on the future course of action regarding the patent infringement suit. “We have no overwhelming desire or fondness to go to the court,” Bajaj said.
Meanwhile, Bajaj brothers, Rahul and Shishir, who are engaged in a legal battle over the division of the empire, are still trying to reach an out-of-court settlement. “We are still trying to have an out-of-court settlement,” Bajaj Auto vice-president Madhur Bajaj said on the sidelines of the conference. The two sides must settle the issue by October 22, failing which the Company Law Board will resume its hearings.