By: Utkarsh Anand | New Delhi | Published:March 29, 2017 9:51 pm
According to submission in court, the counsels representing the auto industry said that if this stock is left unsold, it would lead to a loss of around Rs 12,000 crore to the industry, including dealers.
MAINTAINING THAT the “health of people is far, far more important than the commercial interests of manufacturers”, the Supreme Court Wednesday imposed a complete ban on the sale of BS-III-compliant vehicles in India from April 1 onwards and rejected an appeal by the automakers to let them clear existing stock.
The central government’s support for automobile companies in their bid to sell around 8.24 lakh vehicles in stock, which comply with BS-III emission norms, failed to cut much ice with a bench of Justices Madan B Lokur and Deepak Gupta. The bench said that all …