Dealers in US sue M&M
Atlanta, June 6: A group of automobile dealers in the US has filed a lawsuit against Mahindra & Mahindra (M&M), accusing fraud, misrepresentation and conspiracy, which M&M has denied. According to Michael Diaz, managing partner of Diaz Reus & Targ, the lawfirm that is representing the dealers, the lawsuit alleges that “Mahindra duped hundreds of US auto dealers and walked away with more than $60 million in cash and trade secrets”.
Melbourne, June 6: Australian Prime Minister Julia Gillard has lashed out at the Queensland government over its handling of India’s GVK Group’s huge $10-billion Alpha Coal mine project, claiming it has shaken investor confidence in the state.
Mumbai, June 6: The Reserve Bank today asked banks to put in place policies to locate customers and refund unclaimed deposits which are estimated to be over Rs 1,700 crore.
New Delhi, June 6: Dr Reddy’s Laboratories (DRL) has entered into a partnership with Merck Serono to co-develop, manufacture and market a portfolio of biosimilar compounds in oncology.
New Delhi, June 6: State-owned ONGC is in talks with Mitsui Group of Japan to set up a liquefied natural gas import terminal at Mangalore.