Visaka has recorded steady growth and consistent dividend payouts
Visaka Industries is...
“The prospect of a good monsoon would also add buoyancy to the farmers’ morale and lead to a stronger growth for the overall agricultural sector,” M&M Chief Executive, Tractor and Farm Mechanisation, Rajesh Jejurikar said
Mahindra & Mahindra’s (M&M) tractor sales rose 24.24% to 23,626 units in May 2013 compared with 19,016 units in the corresponding period of last year. Domestic sales of tractors grew 24.7 per cent to 22,471 units from 18,019 units.
Commenting on the monthly performance, Mahindra & Mahindra Chief Executive, Tractor and Farm Mechanisation, Rajesh Jejurikar, said the company is happy to have achieved a consistent growth over the last two months which will have a positive impact on the overall tractor industry.
“The prospect of a good monsoon would also add buoyancy to the farmers’ morale and lead to a stronger growth for the overall agricultural sector,” he added.
The company said its tractor exports rose 15.84% to 1,155 units last month against 997 units in the same period last year.
The National Consumer Disputes Redressal Commission ordered the real estate major to reimburse nearly Rs14 lakh spent by a customer on rent after the flat for which he paid over Rs1.37 crore in 2007 was not handed over to him till date
Realty major Unitech has been directed by the apex consumer commission to reimburse nearly Rs14 lakh spent by a customer on rent after the flat for which he paid over Rs1.37 crore in 2007 was not handed over to him till date.
The National Consumer Disputes Redressal Commission (NCDRC) also pulled up the real estate major and its top officials, executive chairman Ramesh Chandra and managing directors Sanjay Chandra and Ajay Chandra, saying “even after lapse of six years the flats are not ready”.
“It is clear that the opposite parties (Unitech and its officials) want to have benefit of both the worlds. They have received the entire price of the apartment at the time of execution of the agreement. Even after the lapse of six years, the flats are not ready.
“The opposite parties have offered peanuts for delaying construction of work. They have to honour their commitment,” a bench headed by Justice JM Malik said, giving six months time to Unitech to hand over the flat in one of its residential townships in Gurgaon to Sanjay Goyal.
The bench said that after the period of six months is over, Unitech will have to pay Rs25,000 for every additional month of delay in handing over possession and awarded Gurgaon resident Goyal Rs50,000 as compensation.
The NCDRC also directed Unitech to reimburse the rent of Rs42,500 per month from October 2010 to August 2012 (Rs9.35 lakh) and Rs50,000 from September 2012 to May 2013 (Rs4.5 lakh) paid by Goyal.
The commission also directed the real estate company to pay the current rent of Rs50,000 per month being paid by Goyal for the time it takes to hand over possession of the flat.
In his complaint, Goyal alleged that he had in September 2007 paid Rs1,37,89,069 to Unitech for a flat in one of its housing projects ‘Harmony’ at “Nirvana Country” residential township in Sector 50, Gurgaon, Haryana and as per the buyers agreement he was to get possession of the unit by September 2010.
Till date the possession had not been handed over to him, Goyal had said.
Unitech had offered to pay Goyal Rs7.5 per square feet as holding charges for the delay in handing over possession or to refund entire amount paid by him with interest of 15%, but he had refused to settle, the NCDRC noted.