Bajoria preparing ground to face Bombay Dyeing in CLB

"Though I am not prepared to make a public offer at present, if Nusli Wadia is willing to offer management control, I can put all my resources together," Bajoria said.

On reports in a section of press today that he had quietly sold off about two per cent shares of Bombay Dyeing recently, Bajoria said, "it was an absolutely rubbish report. The concerned papers might have got some information from the depositories, but it is also true that they (the depositories) did not often have updated information."

"How can depositories come to know about the companies and also what is the holding of each company?" Bajoria asked. He, however, said about 15-20 days back, he had sold about two lakh shares of Bombay Dyeing in the market which might have decreased his holding by one or two per cent, but later "I repurchased the same number of shares and my holding remains intact."

Asked what percentage of shares of Wadia’s company he held at present, Bajoria said, "it is somewhere in between 13 and 14 per cent, 13.5 per cent to tell you exactly."

"I have already informed SEBI through a letter dated August 4 that I hold 14 per cent shares and also made it clear that I had no intention to make bids for takeover of the company," he said.

"The entire thing was blown out of proportion by some newspapers. This is virtually a non-issue and a normal thing. It was purely an investment decision and happens quite often with one who invests through stock market."