Jagat has taken over in place of Ugo Lanfranchi, the project manager of the Indian region.

Importantly, it is learnt that Piaggio's $140-million claim in the International Chamber of Commerce (ICC) against LML Ltd is based on loss of intangibles such as goodwill and loss of business opportunity.

Piaggio filed the claim in the ICC last month which follows LML's counter claim of $70 million against the Italian company. LML has claimed damages for default of various agreements such as supply of technology and know-how as well as delay in supplying certain technology.

The new directors also attended LML's board meeting which washeld recently.

The resignations of the Italian nominees and the communication seeking a change on the LML board was forwarded by Piaggio's law firm Crawford Bailey to the company last month.

Shah is replacing Enrico Signori and will now be the main person representing the Italian company, sources added.

At a board meeting held on July 31, Shah was appointed as an alternate director to Piaggio's representative on the LML board, Signori. The meeting had also cleared his appointment.

Meanwhile, the district and sessions judge has fixed November 11 for hearing on the appeal of Piaggio in its dispute against LML Ltd.

The Indian promoters of LML Ltd -- the Singhanias -- had in July filed a suit in the Kanpur civil court stating that after the death of G Agnelli, co-promoter of the Piaggio group, they had a right to acquire the shares held by Piaggio in LML as per the provisions of the Article 5.5 of the joint venture agreement.

The Singhanias went to court when Piaggio refused to transfer its staketo them. Though the Singhanias claim that they are legally right in exercising the option, their foreign partner says that the interpretation of the agreement is unfounded. Consequently, Piaggio filed for arbitration in the International Chamber of Commerce.