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Maruti Suzuki pleads inability to pay more for the Manesar land

Discussion in 'Non FIAT Cars and two wheelers' started by ramjn, Nov 29, 2012.

  1. ramjn

    ramjn Staff Member Janitor

    Messages:
    5,245
    Chennai
    Linea 1.3
    Highlights

    - Maruti Suzuki has pleaded inability to pay over Rs 1,200 crore by way of enhanced land acquisition dues for 600 acres it acquired for the Manesar plant in 2002, and urged the Supreme Court to hear it before taking a call on the enhanced compensation amount for farmers.

    - Maruti had paid Rs 118.90 crore for 602.40 acres in 2008. The Punjab and Haryana High Court, in an order dated February 11, 2011, enhanced the compensation amount to Rs 37.40 lakh per acre from Rs 28.15 lakh per acre fixed by the reference court.

    - The judgement entails an additional payment of Rs 1,200 crore by the company to Haryana State Industrial Development Corporation (HSIDC), which acquired the land and handed it over 'raw' to Maruti Suzuki.

    - Land was acquired in Manesar area in three phases. Land for Phase I was acquired in 1994. Phases II and III were acquired in 2002. Maruti's case was first pleaded by senior counsel PS Patwalia and then Abhishek Manu Singhvi.

    - The company argued that 65 per cent should have been deducted towards development charges as the land was not developed at all, and the company had invested huge amounts to improve it and create infrastructure.

    Full News - Maruti Suzuki pleads inability to pay Rs 1,200 cr more for Manesar plant land - The Economic Times
    Last edited: Nov 29, 2012
  2. sungoa2010

    sungoa2010

    Messages:
    2,878
    Goa
    Poor farmers should get what they deserve.
  3. ramjn

    ramjn Staff Member Janitor

    Messages:
    5,245
    Chennai
    Linea 1.3
    True.

    What is surprising me is the inability to pay for them by Maruti.
  4. sungoa2010

    sungoa2010

    Messages:
    2,878
    Goa
    Maruti will plan for adding some more futures in their cars and charge exorbitant price to overcome this. There are many things missing in their cars. Driver arm rest, bluetooth etc :D
    3 people like this.

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