The Sahara group chief and three others made a personal appearance before SEBI. However, Mr Roy continued his tirade saying that the market regulator was more worried about his personal assets than refunding the money to investors of Sahara
In 2012-13, sales of passenger cars fell to 18,95,471 units from 20,31,306 units in the previous fiscal
Passenger car sales in India are forecast to grow 3%-5% in the ongoing fiscal on expectations of an improvement in overall macro-economic conditions, despite witnessing a fall of 6.69% during 2012-13, the Society of Indian Automobile Manufacturers (SIAM) today said.
The industry body also said total sales of all vehicles in the country during 2013-14 will grow by 6%-8% per cent with contributions from almost all segments.
“There are concerns and uncertainties for the future, but there is also hope. In recent times, we have seen some positive policy decisions from the government. Macro-economic recovery is also expected,” SIAM president S Sandilya told the media.
Besides, he said a slew of new models are also expected that will “excite the market” and models with upgraded features may help the car segment to register better sales in this fiscal.
Pointing out that the buying pattern of customers is changing from small cars to bigger cars and utility vehicles, Sandilya said, “The utility vehicle (UV) sales will continue to increase at a good rate on account of new model launches by many players.”
According to its projections for 2013-14, passenger car segment is pegged to grow by 3%-5%, while the UV segment is likely to go up by 11%-13%.
“Overall, the passenger vehicle sales are estimated to rise by 5%-7% in this financial year,” he added.
In 2012-13, sales of passenger cars fell to 18,95,471 units from 20,31,306 units in the previous fiscal.
SIAM, however, had projected the car sales to grow by 10%-12% at the beginning of last fiscal that was later revised downwards thrice during the year. In its last forecast in January this year, car sales growth projection was lowered to just 0%-1% for last fiscal, but it was missed.
Outlining the concerns, Sandilya said the current slow economic growth, general low sentiment of the public, high interest rates and high fuel prices, mainly petrol, can impact sales of vehicles during the current fiscal.
On the overall vehicles sales, he said auto sales of all categories are estimated to rise by 6%-8% in 2013-14.
Sandilya mentioned SIAM has forecast the two-wheeler segment to register a growth of 6%-8% in 2013-14.
“We are seeing a revival of scooter demand and it is growing with new models being launched. Sales of motorcycles depend a lot on rural sentiments,” he added.
Talking about the commercial vehicle segment, Sandilya said the manufacturers are likely to see an overall growth of 7%-9%, primarily led by light commercial vehicles, which is estimated to rise 10%-12% in FY14.
“The concern is medium and heavy commercial vehicles, which is projected to rise 1%-3%. The sales are likely to remain sluggish over the next few quarters with probably marginal recovery during the second half,” he added.
Sandilya, however, said the SIAM forecast will be dependent on many factors such as monsoon, government policies, stability of government at the Centre, international crude prices and currency fluctuations.
“The probability of meeting the forecast is 0.7, which is two-thirds,” he added.
Ravi Kapoor, an activist from Bhayender, says that it is nothing but systematic harassment to citizens who dare to complain against a corrupt police officer
When you complain about corruption to the Anti-Corruption Bureau (ACB), be prepared to be the victim of harassment. You must be sure not to rest thinking that the government will do everything to punish the guilty. Even if there is an arrest of the guilty person, there can be harassment from others in the system that is supporting the man who is caught. Mahesh Girme, Assistant Police Inspector of Dahisar Police station was arrested on a complaint to ACB (Worli) in Mumbai for taking a bribe of Rs11,000. And that was the beginning of more trouble for Ravi Kapoor, the man who had complained against Mr Girme.
Ravi Kapoor, an activist from Bhayender (near Mumbai), complained against Mr Girme, Assistant Police Inspector of Dahisar Police station (State registered FIR No.12 of 2013 under Prevention of Corruption Act).
As a resident of Bhayender (around 60 kilometres from office of ACB-Worli), Kapoor has to start his journey at around 5:30am to reach ACB office at 9:00am. He was kept waiting for around four to six hours then without doing any fruitful work on 1 April 2013. He was asked to re-visit next day then the same was repeated again. It is nothing but systematic harassment to citizens who dare to complain against a corrupt police officer. The whistleblower should be give fair treatment; instead he is harassed.
Kapoor claims that he has been informed on condition of anonymity by a senior police officer that Mr Girme and Mohan Patil (ACP, ACB-Worli) are good friends and hence there is the possibility that Mr Patil has tried to weaken the case to protect Mr Girme.
When Kapoor was called inside Mr Patil’s office, he says that Mr Patil took his voice recording, and this was completed at around 5pm on the same day. Then, Mr Patil ordered Kapoor to re-visit him on next day at 11am. On 2 April 2013, Kapoor, along with social worker, Reshma, reached ACB office at around 10.45am. They were kept waiting and then called and asked to come again at 11am on next day. On 3 April 2013 the two of them reached at 11am, they were kept waiting for around three hours thirty minutes and then called into the office. Mr Patil recorded only the statement of the social worker which was over in ten minutes. She is a witness, according to Kapoor in the bribe case.
On 4 April 2013, Kapoor reached ACB-Worli office at 11 am, and he was kept waiting till 5pm. Kapoor complains, “Mohan Patil, ACP-ACB asked me some questions such as the postal address of my native place, and also some irrelevant questions like what I have done for the last 18 years in Mumbai city. Mr Patil asked me to produce the address, names, details of merchants with whom I had done cloth business in the year 1995-96. I said that there is no connection in asking me such stupid and irrelevant questions. Finally I left his office at 5pm.”
Kapoor adds that Reshma received a phone call on her mobile on 5 April 2013 from a land line number of Dahisar Police station. The caller introduced himself as a police constable speaking on behalf of his superior, Mr Rane. Mr Rane wanted to know why there was a compliant made to higher authorities when the matter could be resolved by him. Mr Rane joked, “Why are you not complaining against IPS & IAS officers who are taking bribes for lucrative postings in the police department.”
The phone call ended with a request to visit Mr Rane at Dahisar Police station to settle the matter and to give further statements in favour of Mr Girme before the ACB.
Kapoor adds that in this connection, he has already written a letter to the home minister copy to Mumbai Police Commissioner on 4 April 2013.
Kapoor has concluded his complaint to Moneylife with the request, “Take appropriate departmental action, and as deemed fit on merits, against the guilty police constable. He has not made an entry in the Police Station dairy for the phone call to Reshma on her mobile.”