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Thursday, 7 June 2012

US car dealers sue Mahindra & Mahindra

Dealers from five states have filed a lawsuit against Indian company, accusing it of fraud, misrepresentation and conspiracy. They claim that they were misled into investing and promoting the brand before reneging on its promises to deliver vehicles. The manufacturer allegedly walked away with cash and trade secrets worth $60 million.

An action brought against the Indian company in Missouri failed a while ago, and arbitration proceedings in London brought by Global Vehicles, the company's US importer, were concluded in Mahindra's favour in February.

The FT has the story here, and the dealers' lawyers Diaz Reus & Targ have more in a press release on their website here.

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