Nissan Sues India – Unpaid dues of over USD 770 million

Nissan Sues India

Nissan Sues India 

Posted December 2, 2017, 12:06 pm at 12:06 

Japanese automaker Nissan Motor has begun international mediation against India to seek more than $770 million in a dispute over outstanding state incentives, according to reports.

It was reported last year, Prime Minister Narendra Modi was sent a legal notice over the matter. Nissan sought payment of incentives pending from the Tamil Nadu government as part of a 2008 deal to set up a car manufacturing plant in the southern state.

In the notice, it says repeated requests to state officials for payment and even company chairman Carlos Ghosn making a plea to Modi were overlooked and did not yield any result.

A Nissan spokesman said, the company tried their best to resolve the matter as they were committed to working with the government, but nothing elaborate out of it.

Meanwhile, a senior Tamil Nadu state official, confirms of no discrepancy in regard to the amount due and they are trying very hard to resolve the matter. He also said the government hoped to solve the issue without having to go to international arbitration.

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