NEW DELHI, SEPT 6: Scooter major LML Limited has filed a claim against Piaggio & CSpA in the International Chamber of Commerce (ICC), Paris, demanding Rs 300 crore damages for making ``vague and baseless allegations'' against it in an arbitration plea filed by the Italian company at ICC, Singapore.LML is seeking the intervention of ICC, Paris, to discover the basis of the allegations levelled against it by Piaggio & CSpA, a 100 per cent subsidiary of the Italian firm, as it had not given any details regarding the ``breach of various agreements'' in its arbitration plea at Singapore, LML said in a release.
LML filed its claim with the ICC yesterday. ``Allegations of breach of various agreements are baseless and made only with a view to providing an excuse and a cover-up to Piaggio & CSpA for its defaults,'' LML said.
The Indian promoters of LML had moved the Kanpur court to acquire the 23.6 per cent stake of Piaggio, in July.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
Printer-friendly page