The Munjals brothers who are the largest shareholder of the world's largest producer of motorcycles by volumes, Hero Honda are now on a consolidating drive as the Group is aiming to reduce the number of holding entities and transferring their ownership under a single umbrella. It has been learned that the move could set the stage for a more comprehensive family settlement for shares worth over $ 2 billion in the two-wheeler major.

While Pawan Munjal, MD, Hero Honda and Brijmohan Lall Munjal, Chairman, Hero Honda Motors declined comment on the development but it is believed that the Group is aiming to get the shareholding pattern under a single umbrella.

However, Sunil Kant Munjal, director in Hero Honda and one of the sons of Brij Mohan Lall Munjal said that the move was a routine process and is a part of Hero Honda's restructuring drive.

While the Japanese partner, Honda owns 26% stake in the company, the Munjal family owned 29.09% stake in Hero Honda, as on March 31.

It may be noted here that around 26% of holding of Munjal brothers is split equally between three privately held firms controlled by the Munjals.