Saturday, November 15, 2008
ISLAMABAD: Chinese car manufacturers have expressed their willingness to establish an eight-seater car manufacturing plant in Pakistan.
Cars produced in this plant would be sold on cheaper rates as compared to cars of other companies, King Ping, Chairman of Chinese Mini Car Manufacturing Company told the Minister of State for Industries and Production, Ayatullah Durrani, during a meeting here on Friday.
King Ping is heading a Chinese manufacturing delegation to Pakistan. “In the beginning we will bring one thousand cars to the Pakistani market for introduction and after that we will start manufacturing here,” he said adding that the production capacity of the plant would be 1,000 cars per month.
On the occasion, the minister told the delegation that there was a great scope for investment in Gwadar as the government was providing complete security to the foreign investors.
Durrani assured the delegation that if they set up a car manufacturing plant in Gwadar, the government of Balochistan will provide complete security and land at cheep rates to them. He said that the government has also declared free tax zone to the industrial sector in Gwadar adding that the future of Gwadar was very bright as it would open new vistas for trade and economic activities in Pakistan.
He informed the delegation that many Chinese manufacturing companies were also in touch with the Pak-Government to seek industrial plots in Gwadar. He said that the government would provide all kinds of opportunities to the investors who invest in Pakistan and provide new technology.
Lucky Chow, Trade representative of Shihao Jiche, Mini Car Company and High officials of the Ministry of Industries and Production also attended the meeting.
Source: http://www.thenews.com.pk
Sunday, 16 November 2008
Chrysler accuses Mahindra & Mahindra of copying designs
It was reported back in February that Chrysler and Mahindra and Mahindra (M&M) were in negotiations over a number of deals including one that could have seen Chrysler sell its Jeep brand to the Indian truck manufacturer. Latest reports indicate that the two are now embroiled over a case of copied designs, with Chrysler accusing M&M of ‘borrowing’ its vertical slit front grille design for the Scorpio SUV (pictured).
While no legal action has been taken yet, the two companies have been discussing the issue for more than a month and both appear to be holding their ground. Speaking with the Economic Times, an M&M source confirmed that the talks had taken place and that both companies are looking to address each other’s concerns.
This isn’t the first time that such an issue has come up between the two. In June, Chrysler accused M&M of using its ‘Jeep’ title for a vehicle sold in South Africa and the case is now being heard by the country’s Advertising Standards Authority.
M&M has been in the international spotlight of late, with the company reportedly in talks with a host of companies including Fiat, Land Rover and General Motors. The Indian firm is also thought to be one of the key bidders for Hummer but there’s yet to be any official word.
Source: http://www.motorauthority.com/
While no legal action has been taken yet, the two companies have been discussing the issue for more than a month and both appear to be holding their ground. Speaking with the Economic Times, an M&M source confirmed that the talks had taken place and that both companies are looking to address each other’s concerns.
This isn’t the first time that such an issue has come up between the two. In June, Chrysler accused M&M of using its ‘Jeep’ title for a vehicle sold in South Africa and the case is now being heard by the country’s Advertising Standards Authority.
M&M has been in the international spotlight of late, with the company reportedly in talks with a host of companies including Fiat, Land Rover and General Motors. The Indian firm is also thought to be one of the key bidders for Hummer but there’s yet to be any official word.
Source: http://www.motorauthority.com/
Indian Auto manufacturers seek financial HELP!!
Subject : Indian Auto manufacturers seek financial HELP!!
12 Nov, 2008
Suffering from tighter credit and falling sales both locally and abroad, India’s automakers and suppliers are asking the government for financial relief.
The industry seeks a lower customs duty on metal imports, extensions of loan repayment schedules for smaller manufacturers and large infrastructure projects, including roads.
“The industry needs an immediate package to survive the current economic crisis,” J.S. Chopra, President of the Automotive and Component Manufacturers Association of India said.
With vehicle demand slowing, especially for commercial vehicles, several suppliers said that automakers were delaying payments and that loans to fund capacity expansion were difficult to get.
Some manufacturers have also slowed production with Ashok Leyland Ltd., the second-largest manufacturer of commercial vehicles, saying it would halve production until December at the earliest.
Tata Motors Ltd., the third-largest passenger-car manufacturer, said plants in Lucknow and Pune would halt production for six days this month. Tata also planned a two-day shutdown of a heavy-vehicle plant in Jamshedpur.
Mahindra Renault Ltd., a joint venture of automaker Mahindra & Mahindra Ltd. and Renault SA, will drop production of the Logan (pictured above) from 2,500 units a month to 1,000.
A drop in global sales, led by U.S. automakers, has cut revenue as much as 30 percent for some parts suppliers. The Automotive and Component Manufacturers Association estimates that India’s auto parts industry will grow by no more than 6 percent this year, compared with an average growth rate of about 25 percent for the previous five years.
12 Nov, 2008
Suffering from tighter credit and falling sales both locally and abroad, India’s automakers and suppliers are asking the government for financial relief.
The industry seeks a lower customs duty on metal imports, extensions of loan repayment schedules for smaller manufacturers and large infrastructure projects, including roads.
“The industry needs an immediate package to survive the current economic crisis,” J.S. Chopra, President of the Automotive and Component Manufacturers Association of India said.
With vehicle demand slowing, especially for commercial vehicles, several suppliers said that automakers were delaying payments and that loans to fund capacity expansion were difficult to get.
Some manufacturers have also slowed production with Ashok Leyland Ltd., the second-largest manufacturer of commercial vehicles, saying it would halve production until December at the earliest.
Tata Motors Ltd., the third-largest passenger-car manufacturer, said plants in Lucknow and Pune would halt production for six days this month. Tata also planned a two-day shutdown of a heavy-vehicle plant in Jamshedpur.
Mahindra Renault Ltd., a joint venture of automaker Mahindra & Mahindra Ltd. and Renault SA, will drop production of the Logan (pictured above) from 2,500 units a month to 1,000.
A drop in global sales, led by U.S. automakers, has cut revenue as much as 30 percent for some parts suppliers. The Automotive and Component Manufacturers Association estimates that India’s auto parts industry will grow by no more than 6 percent this year, compared with an average growth rate of about 25 percent for the previous five years.
Thursday, 13 November 2008
Criminal Cases against Mahindra and Mahindra (M&M)
Mahindra and Mahindra has been called a Cheat by its customers, has been taken to court for making FALSE claims, has been even taken to court by its own dealers, and also has CRIMINAL cases against them!!!!
Some of the history of these CRIMINAL cases against M&M:
There are seventeen criminal cases pending against M&M before various courts and authorities. The details of these are as follows:
i. A dealership contract of one of the dealer was terminated by M&M. Pursuant to that three criminal complaints have been filed against M&M under section 425, 420, 409, 467, 471, 120B, 323, 505, 504 read with Section 34 of IPC by the dealer and two of his customers alleging that the due payment of consideration by demand drafts aggregating to Rs. 2.2 million, Rs. 0.2 million and Rs. 0.2 million respectively has been made but M&M has not delivered the tractors to them. M&M has filed criminal writ petition in one of the complaints before the High Court at Mumbai. The court has admitted the application and stayed the criminal process. M&M has filed a criminal revision petition pertaining to the other two, before the High Court at Mumbai, which have been admitted and stay of the proceedings in the lower courts has been granted.
ii. A customer of M&M filed a complaint under Section 420 of the IPC against M&M and its directors alleging supply of inferior quality vehicle. A petition under section 482 for quashing the proceeding has been filed, which is pending for hearing.
iii. A customer of M&M filed a complaint under Section 406, 420, 467, 468, 471, 120 B of IPC alleging that M&M is guilty of cheating and supplying defective vehicle. The High Court at Patna has quashed the proceedings under Section 482 CrPC. The matter is pending for final hearing.
iv. The commissioner of excise and prohibition has filed a special leave petition before the Supreme Court against the order of the Andhra Pradesh High Court releasing the confiscated vehicle of M&M. The M&M vehicle was being transported from Zaheerabad factory to the regional sales depot at Chennai on stock transfer through a transport agency when it was intercepted by the excise inspector. The matter is pending for hearing.
v. A dealer of M&M has filed a criminal complaint before the Chief Judicial Magistrate, Karnal against M&M and its directors alleging six cheques deposited by M&M in the bank were stolen from his premises and were not issued by him. M&M and its directors have filed a petition to quash the proceeding before the Punjab and Haryana High Court, which has stayed the proceeding, pending the hearing and final disposal of the petition.
vi. Three criminal complaints has been filed against the occupier and manager of the Kandivli Unit (Farm Equipment and Auto Sector) of M&M under Factories Act, 1948 by Deputy Director for Industrial Safety and Health alleging that the specified safety and health standards were not met by the unit. The cases arose from the injury suffered by workmen working at the above unit. The matters are pending with the Metropolitan Magistrate, Andheri, Mumbai.
vii. Six criminal complaints have been filed against the occupier and manager of Kandivli unit (Auto Sector) of M&M, by Director for Industrial Safety and Health alleging that the unit had violated Section 54 of the Factories Act, 1948 by working beyond 9 hours without permission from the authorities. The case is pending before the Metropolitan Magistrate, Andheri, Mumbai. 307
viii. A dealer of the company has filed complaint under Section 420, 467, 471, 384, 34 and 147 of IPC against the company and its directors alleging that the company has filed a false case against him under Section 138 of the Negotiable Instruments Act as the cheques in question were not issued to M&M. The matter is pending for hearing and next hearing is scheduled on September 4, 2006.
These may or may not include any current Criminal cases against M&M, but you get the kind of company M&M is, and as they say:
Some of the history of these CRIMINAL cases against M&M:
There are seventeen criminal cases pending against M&M before various courts and authorities. The details of these are as follows:
i. A dealership contract of one of the dealer was terminated by M&M. Pursuant to that three criminal complaints have been filed against M&M under section 425, 420, 409, 467, 471, 120B, 323, 505, 504 read with Section 34 of IPC by the dealer and two of his customers alleging that the due payment of consideration by demand drafts aggregating to Rs. 2.2 million, Rs. 0.2 million and Rs. 0.2 million respectively has been made but M&M has not delivered the tractors to them. M&M has filed criminal writ petition in one of the complaints before the High Court at Mumbai. The court has admitted the application and stayed the criminal process. M&M has filed a criminal revision petition pertaining to the other two, before the High Court at Mumbai, which have been admitted and stay of the proceedings in the lower courts has been granted.
ii. A customer of M&M filed a complaint under Section 420 of the IPC against M&M and its directors alleging supply of inferior quality vehicle. A petition under section 482 for quashing the proceeding has been filed, which is pending for hearing.
iii. A customer of M&M filed a complaint under Section 406, 420, 467, 468, 471, 120 B of IPC alleging that M&M is guilty of cheating and supplying defective vehicle. The High Court at Patna has quashed the proceedings under Section 482 CrPC. The matter is pending for final hearing.
iv. The commissioner of excise and prohibition has filed a special leave petition before the Supreme Court against the order of the Andhra Pradesh High Court releasing the confiscated vehicle of M&M. The M&M vehicle was being transported from Zaheerabad factory to the regional sales depot at Chennai on stock transfer through a transport agency when it was intercepted by the excise inspector. The matter is pending for hearing.
v. A dealer of M&M has filed a criminal complaint before the Chief Judicial Magistrate, Karnal against M&M and its directors alleging six cheques deposited by M&M in the bank were stolen from his premises and were not issued by him. M&M and its directors have filed a petition to quash the proceeding before the Punjab and Haryana High Court, which has stayed the proceeding, pending the hearing and final disposal of the petition.
vi. Three criminal complaints has been filed against the occupier and manager of the Kandivli Unit (Farm Equipment and Auto Sector) of M&M under Factories Act, 1948 by Deputy Director for Industrial Safety and Health alleging that the specified safety and health standards were not met by the unit. The cases arose from the injury suffered by workmen working at the above unit. The matters are pending with the Metropolitan Magistrate, Andheri, Mumbai.
vii. Six criminal complaints have been filed against the occupier and manager of Kandivli unit (Auto Sector) of M&M, by Director for Industrial Safety and Health alleging that the unit had violated Section 54 of the Factories Act, 1948 by working beyond 9 hours without permission from the authorities. The case is pending before the Metropolitan Magistrate, Andheri, Mumbai. 307
viii. A dealer of the company has filed complaint under Section 420, 467, 471, 384, 34 and 147 of IPC against the company and its directors alleging that the company has filed a false case against him under Section 138 of the Negotiable Instruments Act as the cheques in question were not issued to M&M. The matter is pending for hearing and next hearing is scheduled on September 4, 2006.
These may or may not include any current Criminal cases against M&M, but you get the kind of company M&M is, and as they say:
Past is the best indicator of Future
Sunday, 2 November 2008
Saturday, 1 November 2008
Tata Nano Diesel DELAYED EVEN FURTHER !!!
October 27th, 2008
Things are not going well for Tata with their ambitious Nano project.
The whole project is somewhat delayed due to the mess at their original plant in West Bengal.
The latest information in is that the diesel variant of the Nano would take more time to arrive in the market.
Tata had planned to launch the diesel version of Nano sometime next year. But that looks somewhat tough now that the company has to concentrate on manufacturing enough units of Petrol Nano to meet the demands in 2009.
Tata Motors for now has just said that they are just working on the petrol version of the model at the moment. They might consider developing other fuel models.
The company is currently working on moving their plant from Singur in West Bengal to Gujarat.
Source: http://business.techwhack.com
Things are not going well for Tata with their ambitious Nano project.
The whole project is somewhat delayed due to the mess at their original plant in West Bengal.
The latest information in is that the diesel variant of the Nano would take more time to arrive in the market.
Tata had planned to launch the diesel version of Nano sometime next year. But that looks somewhat tough now that the company has to concentrate on manufacturing enough units of Petrol Nano to meet the demands in 2009.
Tata Motors for now has just said that they are just working on the petrol version of the model at the moment. They might consider developing other fuel models.
The company is currently working on moving their plant from Singur in West Bengal to Gujarat.
Source: http://business.techwhack.com
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