Companies & Sectors
Toyota Financial Services to expand operations in major metros in FY13

Toyota Financial Services, which does retail financing in the initial phase, will also enter into inventory finance for dealers and pre-owned car segment in the near future

Mumbai: Toyota Financial Services Corp, the vehicle financing arm of Toyota, is planning to expand its presence in major metro centres of the country by the end of this fiscal after launching its operations in Bangalore and National Capital Region (NCR) region, reports PTI quoting a top company official.

 

The captive vehicle financing arm of the Japanese motors, which is registered as an NBFC with RBI, also said that it would open its operation in Mumbai and Pune shortly.

 

"We are planning to increase our presence in major metro cities by the end of this fiscal and will begin our operation in Mumbai and Pune shortly," Managing Director and Chief Executive Officer of Toyota Financial Services, Kazuki Ogura told PTI here.

 

He also said the initial investment of Rs260 crore is enough for the company's lending operation as of now and will require capital as it grows.

 

"Presently, we have enough capital. As we grow, we will require capital, which will be arranged from bank credit and capital market," Ogura said.

 

He also added that the company would attain breakeven in next few years without giving a timeline.

 

Toyota Financial Services, which does retail financing in the initial phase, will also enter into inventory finance for dealers and pre-owned car segment in the near future.

 

"We see opportunity in inventory finance for dealers and pre-owned car segment, which we will enter in the future," Ogura said.

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Essar Oil, Cafe Coffee Day in marketing tie-up

Cafe Coffee Day has opened its first outlet under the tie-up at Essar's petrol pump on the Pune-Ahmednagar highway

Mumbai: In an attempt to increase its non-fuel revenues, private sector refiner Essar Oil on Thursday said it has tied up with coffee chain Cafe Coffee Day (CCD), reports PTI.

 

"Non-fuel business is a strategic business for Essar Oil and we expect it to contribute significantly to the company's growth in the coming few years. Our tie-up with Cafe Coffee Day is part of this strategy and it also results in effective use of available land in a retail outlet's premises, thus leveraging on the available resources to a maximum level," Essar Oil Marketing CEO S Thangapandian said in a statement.

 

Cafe Coffee Day has opened it first outlet under the tie-up at Essar's petrol pump on the Pune-Ahmednagar highway.

 

"We have shortlisted several more EOL outlets to set up our signature cafes," Cafe Coffee Day Marketing President K Ramakrishnan said.

 

Essar Oil with its 1,400 retail network, has existing tie-ups with around 23 brands across segments like lubricants, agro products, banking and financial services and food and beverage companies.

 

Cafe Coffee Day currently operates 1,100 outlets across the country in three formats-- lounges, cafes and kiosks and plans to have 2,000 outlets by 2014.

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Coal block allocation issue disrupts Parliament for 7th day

The Lok Sabha was adjourned once for an hour and then for the day while the Rajya Sabha saw two adjournments till 2pm before being finally adjourned for the day

 
New Delhi: An adamant Bharatiya Janata Party (BJP) continued to disrupt Parliament for the seventh consecutive day on Thursday over coal block allocation but the government pushed through two bills amid growing isolation of National Democratic Alliance (NDA) among non-United Progressive Alliance (UPA) parties, reports PTI.
 
The Chemical Weapons Convention (Amendment) Bill and All India Institute of Medical Sciences (Amendment) Bill were passed in the Lok Sabha by voice vote without any discussion within a few minutes amid din created by BJP members demanding resignation of Indian Prime Minister Manmohan Singh.
 
No other business could be transacted as uproarious scenes were repeated in both the Houses with BJP members storming the Well soon after they assembled for the day.
 
The Lok Sabha was adjourned once for an hour and then for the day. The Rajya Sabha saw two adjournments till 2pm before being finally adjourned for the day.
 
Janta Dal-United, which has been uneasy over the BJP's tactics of disrupting Parliament, on Thursday rallied behind it in demanding resignation of the Prime Minister taking "moral responsibility" and cancellation of allotted coal blocks.
 
The disruptions by BJP and some of its NDA allies angered other non-UPA parties. Samajwadi Party took the lead and was supported by Left parties and Telugu Desam Party (TDP) in condemning the behaviour of NDA and demanding restoration of normal functioning of Parliament.
 
In both Houses, members of NDA allies Shiv Sena and Shiromani Akali Dal (SAD) were on their feet but they did not go into the Well while most of the JD-U members remained seated.
 
The slogan shouting by the BJP was countered by Congress members, who hailed the Prime Minister and attacked the BJP for disrupting Parliament.
 
Amid the din, the Rajya Sabha also took up a calling attention motion on the situation arising out of casualties during clinical trial in the country. Minister of State for Health and Family Welfare Mukul Roy laid a statement on it.
 
Leading the Congress charge, Pradip Balmuchu taunted the BJP asking it to "stop running away from Parliament".
 
BJP members shouted "Beimano Ki Sarkar Nahin Chalegi (the government of the dishonest will not be allowed)." Congress members retorted by saying "BJP Ki Goondagardi Nahin Chalegi (the hooliganism of the BJP won't be allowed)."
 
Earlier in the Lok Sabha, the Speaker took up Question Hour but nothing could be heard as BJP members shouted slogans like 'Pradhan Mantri Istifa do' (Prime Minister, quit) and 'koyele ki dalali hai, poori Congress kaali hai' (commission in coal, entire Congress is blackened)'.
 
They were countered by Congress members who chanted 'Pradhan Mantri Zindabad'.
 
AIADMK and DMK members were raising slogans against the government for training Sri Lankan forces in India. AIADMK members carried placards, displaying them in the aisle.
 
In Rajya Sabha, BJP members started shouting "coal, coal, coal..." as soon as Chairman Hamid Ansari in the morning took up the first listed question of the day.
 
Minister of State in the Prime Minister's Office (PMO) V Narayanasamy, against whose name the first question of the day on time limit for action against corrupt officials was listed, said he was prepared to reply.
 
"It is a very important question. I am ready to answer...people of this country should know the action being taken," he said amid slogan shouting.
 
For a few minutes Ansari tried to conduct the proceedings, asking members to raise supplementaries. But, as the slogan shouting BJP members started coming to the Well, he adjourned the House till noon.
 
Similar scenes were repeated when the House reassembled, forcing adjournment till 2pm. At 2pm, Kurien wanted to take up the resumed discussion on Whistle Blowers Bill but BJP raised slogans.
 
Amid the din, the House was adjourned for the day.
 

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