Six-year old Bajaj family drama is all set for curtains as Rahul Bajaj has acquired 29.2% in Bajaj Hindustan. He would sell 29.6% stakes in Bajaj Hindusthan to his brother Shishir Bajaj, paving the way to transfer full control of the sugar company to his brother. The move would raise Shishir Bajaj's stake in BHL from 2.85% to 32.47%.

Rahul Bajaj, in a statement filed with NSE, said that he would buy shares from Bachhraj & Co and Jamnalal through an inter-se transfer of shares. There is no need to issue open offer as the deal is being done through inter-se transfer. However, the deal could attract capital gains tax.

A member of the Bajaj family said, "While the basic structure of the new agreement is in line with the earlier MoU, signed in 2003, it takes into account the changed circumstances where the valuations of both companies (Bajaj Auto and Bajaj Hindusthan) have gone through a significant change."

The cost of all shares to be brought would be Rs 258 crore at the prevailing market prices for zero consideration modes. The value of this transaction would be adjusted as per shares of Shishir Bajaj in Bajaj Auto, owned by Rahul Bajaj. Shishir Bajaj owns around 2% in Bajaj Auto.

The dispute in the family started 6 year ago when Shishir and his son, Kushagra, had revolted against Rahul Bajaj-led group on price reference issue. Shishir also approached the Company Law Board against Rahul. Experts believe that the recent global slow down and thin stock market conditions, forced both parties to end the dispute through mutual understanding.