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Car Dealers May Go Bankrupt Mahindra Md Opined

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Car Dealers May Go Bankrupt Mahindra Md Opined

Car Dealers May Go Bankrupt Mahindra Md

Car dealers may go bankrupt Mahindra MD opined. Pawan Goenka Mahindra and Mahindra (M&M) managing director said that currently with poor auto sales leading to thousands of job losses across the M&M. The next big fear is of suppliers and dealers going bankrupt if the upcoming festive season turns out to be thinner in terms of demand.

“If we miss this festive season and don’t see a turnaround, there will be a significant negative effect in terms of jobs, investments, and bankruptcy. Many suppliers may have to declare bankruptcy Goenka said, adding there have already been 12 months of the slowdown in car sales which is very long.

car dealers may bankrupt mahindra md

He made these comments after the closing of over 300 dealerships in the last year that led to the loss of around 2 lakh jobs, according to Federation of Automobile Dealers Association. As per the Society of Indian Automobile Association, approximately 15,000 people have lost jobs in the sector in the last 3 months.

Goenka also admitted that the current government has little space for a GST cut on automobiles which have been a long-standing demand of the automobile industry, he said the central government can take several measures on the non-revenue side. On the non-revenue impact side, Goenka suggested bringing back the third-party insurance requirement to one year and elimination of 1% TDS is very useful to revive the automobile industry.

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Political News

2 US Citizens Arrested For Flying Drone in Delhi

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2 US Citizens Arrested For Flying Drone

2 US Citizens Arrested For Flying Drone

Delhi Police arrested 2 US citizens arrested for flying drone near Rashtrapati Bhavan in New Delhi as drones are banned in New Delhi. The US citizens have been identified as father and son, Peter James Lynn (65) and his son Guillaume Leadbetter Lynn (30). They came to India from the US on Saturday on a tourist visa. Both were taken into custody.

Police recovered a few photographs of the high-security Central Secretariat area captured through the drone camera. However, during their interrogation, they told police that they were working for an online portal and were recording the video for it. The two US citizens told police that they were unaware that the use of drones was banned in Delhi. Police said that the investigation  is going on 

 

 

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Viral Video Minutes Before Godavari Boat Tragedy

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Viral Video Minutes Before Godavari Boat Tragedy

A Viral Video Minutes Before Godavari Boat Tragedy, A Person on the boat captured the visuals of people enjoying the beautiful locations on their way to Papikondalu. This video has gone viral after the tragic incident.

The search operation has been continuing since Yesterday to trace the for missing people. Two NDRF Teams and Three State-Level Teams are taking part. Indian Navy’s Dip Divers Team, Two Navy Helicopters, and One ONGC Chopper were used in the search operation.

AP CM Jagan conducted an aerial survey at the boat drowned location. Later, He consoled the families of the boat accident victims. Telangana Minister Errabelli Dayakar Rao also accompanied Jagan during this visit to the hospital.

 

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Kodela Siva Prasad Rao Committed Suicide And Died

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Kodela Siva Prasad Rao Committed Suicide

Kodela Siva Prasad Rao Committed Suicide

In a shocking incident, Andhra Pradesh Former Speaker and TDP Senior leader Kodela Siva Prasad Rao committed suicide. Kodela hanged himself self at his Hyderabad. He was taken immediately to Basavatarakam cancer hospital in Banjara Hills. Doctors tried to save Kodela but their efforts went in vain at last Kodela breathed his last at age 72.

Kodela Siva Prasada Rao was born in Kandlagunta, Guntur district, Andhra Pradesh, India on 2 May 1947. Kodela is survived by wife Sasikala, daughter Vijaya Lakshmi, sons Sivaramakrishna, and Satyanarayana. Reasons behind Kodela’s suicide were unknown. Kodela lost to Ambati Rambabu from Sattenapally constituency in 2019 elections after that he was politically targetted by ruling YSRCP government. 

He faced severe criticism for keeping assembly furniture at his personal office later it was recovered. Recently Hero Honda dealership in Guntur district which belongs to Kodela was canceled by RTA authorities citing several reasons. This was shocking news for the TDP and its supporters. Kodela was a prominent and powerful leader in Palnadu region. 

Kodela Siva Prasad Rao served for five years as the Speaker of the first Andhra Pradesh Assembly from the year 2014. In his three-decade political career, he has served as a cabinet minister in N. T. Rama Rao and Nara Chandrababu Naidu governments, serving at various times as Home Minister, Health, Major Irrigation department, Panchayat Raj and Rural Development, and Civil Supplies.

May his soul rests in peace.

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