There is interest building up in this stock due to rumours that the family feud between Anand Jaiswal and Jagatjit Jaiswal is close to being settled. In March 2009, the Company Law Board (CLB) had ruled that there was no merit in challenging the allotment of shares with differential voting rights (DVRs) as it was legally permissible. Anand and Jagatjit had moved the CLB against the company decision in 2004 on preferential allotment of shares with DVRs, giving Karamjit 64% voting rights on his 32% stake in the company. At that time itself, the two brothers had apparently agreed to the CLB-proposed settlement where Karamjit would buy out Anand and Jagatjit's 12% stake in the company for roughly Rs730 million.
However, according to the latest shareholding pattern, 2.15 million shares held by Karamjit Jaiswal are shown under the pledged or otherwise encumbered account and placed in an escrow account. In addition to this, there is also talk of a takeover bid from UB. Jagatjit owns Aristocrat Liquor, Binnie's Malt and dairy products, and also makes glass containers.
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