Were communication channels open between you and Arun Bajoria at any point in time?
No. Why should we have them? Someone violated the Takeover Code. The buyer did not even extend the basic courtesy of informing us. So we informed SEBI about it. That is all there is to it. We can’t keep talking to everyone and anyone. Is it true that Bombay Dyeing was found napping when Arun Bajoria was in his act? Do you think Bajoria succeeded to pick up a substantial stake because the stock was undervalued? It’s a myth — that we were caught napping or that the management was inefficient. There are no mechanisms available to track every single traded share to its buyer and seller. We did discover that this particular group of Bajorias acquired more than 5 per cent of equity and promptly informed SEBI. As for the undervalued stock, yes I do agree, that is an aberration. But there is nothing we can do about it. That is how the market perceives Bombay Dyeing. It is for the markets to value the company correctly. All I can say is Bombay Dyeing is a low-profile company. Our stock is not
