Change in the air

Mumbai, April 11: Bajaj Tempo will now be known as Force Motors. A resolution proposing the name change has been passed by majority vote by shareholders, the Arun Firodia-controlled company said today.

The resolution was put to vote at an extraordinary general meeting on April 5. Bajaj Tempo told bourses that members holding 1,04,83,010 shares (79.56 per cent of the total shares) voted on the resolution.

Around 69.44 per cent of the total votes, representing 55.24 per cent of the total paid-up capital of the company, was for the change in name. Around 30.56 per cent, or 24.32 per cent of the paid-up capital, was against the move.

?As the votes cast in favour of it were far more than those against it, the resolution has been declared as passed by majority,? the company said.

Bajaj Tempo added that further proceedings on the matter depend on the outcome of the writ petition pending before Bombay High Court.

Bajaj Auto, which owns 24 per cent of Bajaj Tempo, had earlier filed the writ petition challenging the proposal to change the name to Force Motors.

Bajaj Auto had argued that Bajaj Tempo has not complied with Section 21 of the Companies Act, which deals with the change of name for companies with special resolution.