What do u think, India should Impose the addition compensation to maintain the so called SYSTEM of INDIA or not? Is India a bad investment destination???? New Delhi: Maruti Suzuki, leader of the domestic car industry, has described demands of additional compensation for the 600-odd acres in Manesar, where the company has a car factory, as “unreasonable and strange”. Kenichi Ayukawa, the new MD and CEO of Maruti Suzuki, said enhanced payment demands after almost a decade of the company’s presence in the area only makes India a bad investment destination as far as corporates are concerned. “Nobody accepts unreasonable decisions. Frankly speaking, I do not know why India has such kind of a rule,” Ayukawa told TOI, the first official comment from the company’s top management over the matter. “It is unreasonable. I have never heard of such kind of a thing in any country.” The issue of additional compensation for the landowners at Manesar is proving to be a headache for Maruti which, according to initial estimates, may have to shell out an additional Rs 800 crore for it. The higher payout was initially awarded by the Punjab and Haryana high court in 2011 that had raised the compensation amount from Rs 28.15 lakh to Rs 37.40 lakh (per acre), leading to a huge recovery notice on the carmaker.(Source- Times of India, 29 july, page no. 17)
Posted on: Thu, 01 Aug 2013 18:54:50 +0000
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