Intelligent Enterprise 99

Have a flair with words?

Search
The Indian Express

The Financial Express

Latest News

Livestylz

Mythology

CerfKids

Corporate Results

Matrimonials

Careers

Astrology

Feedback
Columnists

Crossword

Letters

Jewellery
Daily IT Update

Express Computer

Screen

Power

Steel


INDIAN EXPRESS FRONT PAGE

Politics

Business

Expressions

General

World

Sports

Leisure

States

 

Monday, November 22, 1999

Bajaj Auto sued by SDP

PRESS TRUST OF INDIA  
NAGPUR, NOV 21: A city-based plastic moulding company has dragged Bajaj Auto Limited (BAL) into court for `arbitrarily terminating' the business contract and for recovery of dues to the tune of Rs 79.64 crore.

The company, Sandeep Polymers Private Limited (SDP), supplying plastic panels to BAL for its scooters and had made huge investments as part of the agreement, has accused BAL of breach of trust and nepotism, managing director Dileep Nivatia said at a press conference here yesterday.

The suit has been filed before third joint civil judge senior division and notices were issued to respondents BAL CMD Rahul Bajaj his elder son Rajiv, returnable by November 30.

Nivatia said BAL has transferred the supplies to a Pune-based firm promoted by BAL and withheld payments against current supplies by SDP. The amount mainly pertains to: approximately Rs 4 crore towards cost of manufactured moulds, Rs 15 crore for incurring losses and Rs 45 crore towards estimated losses, she said.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


Top


WorldQuest Network Phonecards! Only 30c/m phone calls to INDIA


 

Click here for a printer-friendly page Printer-friendly page

Saif Zone: International Free Zone -- Sharjah Airport



EXPRESSindia.com
News   Business   Sports   Entertainment
The Indian Express | The Financial Express | Latest News | Screen | IT Update | Express Computers
Matrimonials | Careers | Livestylz | Mythology | Astrology
Columnists | Ebate | Jewellery | Cerfkids
Corporate Results | Steel | Power