Piramal Enterprises Ltd (PEL) on Tuesday said that there is no split in the family business as reported in a section of the media. ‘‘The report is completely wrong and baseless,’’ PEL said.Ajay Piramal has been the Chairman of PEL since 1984, the company said in a statement. He has also been the chairman of all companies belonging to the Piramal Group, and continues to occupy that position, it added.PEL also clarified that Urvi A. Piramal is the Vice Chairperson of the company and is also on the board of directors of Nicholas Piramal India Ltd and Gujarat Glass Pvt Ltd. ‘‘She continues to occupy these positions,’’ PEL said.‘‘In order to leverage emerging opportunities and to maintain the highest standards of corporate governance, each business has been given individual focus and is run by a strong management team to leverage opportunities and maintain high standards of corporate governance,’’ it said.‘‘This takes care of the interests of all the stakeholders and creates enhanced value for shareholders,’’ it added.All businesses of the Piramal group are in high growth areas. The new patent regime starting from January 1, 2005 has unleashed opportunities for the pharma world, it said.
