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NBFC liquidity crisis hits India's auto industry hard

Friday, January 11, 2019, 7:49 AM

Automakers, hit by the liquidity crisis among NBFCs, want the government to take measures to stem the reduction in credit for dealers and customers. The Society of Indian Automobile Manufacturers (Siam), the industry lobby, has written to finance secretary A.N. Jha about the continued decline in sales from the lack of credit. The NBFC crisis was triggered by the crisis at IL&FS.
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Jawa opens dealerships in Pune, first in India after re-entry

Saturday, December 15, 2018, 8:57 PM

Czech motorcycle brand Jawa, which re-entered the Indian market last month with the introduction of three models, on Saturday announced the launch of its first two dealerships in the country in Pune. With the two dealerships at Chinchwad and Baner in Pune becoming fully operational, customers can book and test-ride Jawa and Jawa Forty Two motorcycles, Classic Legends said in a statement.
 
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Fiat Padmini long gone, Premier Ltd now faces bankruptcy

Thursday, December 13, 2018, 5:47 PM

Premier, the Pune-based company that produced the iconic Premier Padmini modelled on the Fiat 1100, has been dragged to the National Company Law Tribunal by Corporation Bank. The state-owned lender has filed a bankruptcy case against Premier to recover dues worth Rs.52 crore. The BSE-listed company had forayed into engineering after the production of the Premier Padmini ceased in 1997.

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