It is fifteen years since Bajaj Holdings & Investment Ltd. ('BHIL' or 'the Company') came into existence post the demerger of erstwhile Bajaj Auto Ltd. into three entities - Bajaj Auto Ltd., Bajaj Finserv Ltd. and the erstwhile Bajaj Auto Ltd. (renamed as Bajaj Holdings & Investment Ltd.), with effect from 1 April 2007.
Bajaj Holdings & Investment Limited (BHIL) - erstwhile Bajaj Auto Limited was de-merged, whereby its manufacturing undertaking has been transferred to the new Bajaj Auto Limited and its strategic business undertaking consisting of wind farm business and financial services business has been vested with Bajaj Finserv Limited
Managing Director & CEO
Pune - India
Bajaj Holdings & Investment Limited [ (BHIL) - erstwhile Bajaj Auto Limited ] was de-merged as per Order dated 18 December 2007 of the Hon'ble Bombay High Court, whereby its manufacturing undertaking has been transferred to the new Bajaj Auto Limited (BAL) and its strategic business undertaking consisting of wind farm business and financial services business has been vested with Bajaj Finserv Limited (BFS). All the businesses and all properties, assets, investments and liabilities of erstwhile Bajaj auto Ltd, other than the manufacturing undertaking and the strategic business undertaking, now remain with BHIL.
Post-demerger, BHIL holds more than 30% shares each in BAL and BFS. Going forward, BHIL will focus on new business opportunities. BAL and BFS will be able to tap (on an arm's length basis) into BHIL's cash pool to support future growth opportunities. BHIL by having over 30% stake in both BAL and BFS will benefit from the future growth of these companies.
BHIL has been registered as a Non-Banking Financial Company (NBFC) under the Registration No. N-13.01952 dated 29 October 2009 with Reserve Bank of India (RBI). The Company is classified as a 'Systemically Important Non-deposit taking NBFC' as per RBI Regulations.
It may, however, be noted that:
(a) Reserve Bank of India does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for discharge of liability by the company;
(b) Neither is there any provision in law to keep, nor does the company keep any part of deposits with the Reserve Bank and by issuing the Certificate of Registration to the Company, the Reserve Bank neither accepts any responsibility nor guarantee for payment of deposit amount to any depositor.
Shri Jamnalal Bajaj (4 November 1889-11 February 1942) was an industrialist, philanthropist, and freedom fighter.
The third son of Kaniram and Birdibal, Shd Jamnatal Bajaj was born into a poor Marwari family. A rich merchant of Wardha, Seth Bachhraj and his wife later adopted him as their grandson.
Under the guidance of Seth Bachhraj, Jamnalaiji got involved in the family business and acquired the know-how of being a tradesman- keeping strict accounts and buying and selling commodities- excelling in his work. In 1926 he founded what would become the Bajaj group of industries. Today, the Bajaj Group of industries has expanded to 24 companies, including 6 listed ones.
During the First World War, the British government appointed Jamnalal an honorary magistrate. When he provided money for the war fund, they conferred on him the title of Rai Bahadur, a title he later surrendered during the non-cooperation movement of 1921.
He was a close associate and follower of Mahatma Gandhi who was known to have adopted him as his fifth son, Jamnalalji took an interest in Gandhiji's way of life, his principles, such as Ahimsa (non-violence), and his dedication to the poor. He could understand Gandhi's vision that home-made goods were the answer to India's poverty and strongly advocated that cause while touring the length and breadth of India promoting Khadi In 1920, Jamnalali was elected chairman of the reception committee for the Nagpur session of the Indian National Congress. He gave up the title of Rai Bahadur conferred on him by the British government and joined the non-co-operation movement in 1921. Later, in 1923, he participated in the flag satyagraha, defying a ban on flying the national Hag in Nagpur, and was detained by British forces This earned him national admiration. He was later elected as a member of the Congress Working Committee and in 1933 was chosen as the treasurer of Congress.
With the intent of eradicating untouchability, he fought the non-admission of Harijans into Hindu temples in his hometown of Wardha. Amidst strong objections, he opened his own family temple, the Laxmi Narayan Mandir, in Wardha, for the Harijans in 1928.
This was the first temple in India to do so.
Jamnatalji dedicated much of his wealth to the poor. He felt this inherited wealth was a sacred trust to be used for the benefit of the people. This was in line with the trusteeship concept proposed by Gandhi. That he was treasurer of the Indian National Congress for more than 20 years despite having just 4 years of formal education, is an insight into the mind of a man who knew no limits.
The man with a humanitarian mission.
Shri. Kamalnayan Bajaj (23 January 1915-1 May 1972), eldest son of Shri. Jamanalal Bajaj started shouldering family responsibilities from an early age. After completing his education at the University of Cambridge, England, Kamalnayanji returned to India to assist his father, in business as well as social service.
Shortages of food, power, raw materials, technology, and foreign exchange; upheavals in the banking system, and the introduction of the License Raj were just some of the challenges the country and its entrepreneurs faced in the 1940s, '50s, '60s, and early '70s. Unfazed, Kamalnayan Bajaj quietly got to work. In 1942, the Bajaj Group had sales of approximately Rs.1 Crore, under 200 employees, a few ginning and pressing mills, and a fistful of debts.
His first act was to work off the debts. During partition, the group lost almost one-third of its assets. He started afresh. Over the next three decades, he built sixteen factories and acquired five. By 1965, the Bajaj Group was the 19th largest business house in the country. Today its market cap is approximate Rs.1,30,000 crore with a pre-tax profit of over Rs. 8,000 crore. Bajaj Auto is the world's third-largest motorcycle manufacturer. The two Bajaj Allianz Insurance Companies and Bajaj Finance, a consumer and SME finance company, are leaders in their respective fields.
Bajaj Holdings is the flagship of the Bajaj group of companies. The companies in the group are:
The Corporate Social Responsibility (CSR) activities of Bajaj Group are guided by the vision and philosophy of its Founder, late Shri Jamnalal Bajaj, who embodied the concept of Trusteeship in business and the common good and laid the foundation for ethical, value-based, and transparent functioning.