Not interested in biz: Khorakiwala Jr

MUMBAI: Huzaifa Khorakiwala, the son of Wockhardt promoter Habil Khorakiwala who was recently promoted to the post of wholetime director, says he is not interested in running the company. ���I am not interested in business. My interests are different. I am more interested in spirituality, religion and corporate social responsibility,��� the younger Khorakiwala said on the sidelines of the Pharmaceutical Leadership Summit on Friday.

The CEO of the three-month old Wockhardt Foundation, Mr Khorakiwala added that though he might be on the board, his involvement in the company would be limited.

���Though I am on the board I will not be spending too much time on the business. My involvement will be to attend board meetings, follow what is happening with the company and give suggestions. It will not be difficult to handle that and the Foundation,��� he told ET.

Though the company has approached the Corporate Debt Restructuring Cell, Mr Khorakiwala stated that the company���s situation was not critical and that it was only facing a ���minor liquidity problem.���

Since the foundation that he heads is dependant on funding from the parent company, it is looking for outside funding. ���The administrative costs of the foundation are borne by Wockhardt. The rest is from outside funding and volunteers who offer their time.��� He also denied an ET report that the company was selling its Bandra-Kurla Complex (BKC) property. ���We own 65% of the building and are not selling it. If we did where would our employees go?��� he said.