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Thread: Liquidation of Mysore Kirloskar and Standard Motor Products.

  1. #1

    Join Date
    May 2005
    Posts
    1,009

    Default Liquidation of Mysore Kirloskar and Standard Motor Products.

    Dear members.
    One of the oldest companies and that too the pioneers in Machineries and Electrical Motors,Gensets namely M/s.Mysore Kirloskar Limited of Harihar is auctioned for hardlyRs.73 Seventythree crores disappointing lot of people like me.
    Indeed the company' s neighbour is M/S Grasim Industries of Aditya Birla group and in between them the River Tungabhadra extends her journey towards Hospet in bellary dist.
    The sucessful bidder is blessed with 192 acres of Land and vast potential to carry forward the similar trade.I sympathise with the promoters who are bit annoyed with some irresponsible labourers rsulting in lock out and ultimately the closure of a 54 year old company which protected thousands of families in Harihar.
    Here is another story of a similar company namely Standard Motor Products once the dominating auto Industry making cars and LCVs in Chennai in the 80s and rather unfortunate to witness the liquidation of the company promoted by MAC the founder of AASI.
    The property was auctioned and the suceesful bidder from Coimbatore namely Mr.Khannaiyan for Rs134crores did a guinness record in dishonouring a cheque issued towards the primary condition of 10% payment against the bidding value.The result sir,the liquidator had to bear a loss of Rs2.67lacs in the bargain and thus the Hon'ble court of Chennai Highcourt squashed the earlier bid and instructed to reauction by inviting a global tender.
    Summing up my shout, My friends the above two companies could be ideal for the promotion of various Industries and request the support of you to revive these units with a viable alternative and at the same time to be aware of people like Khannaiyans.
    Bhadrinath.
    kbhadrinath

  2. #2

    Join Date
    Jun 2016
    Posts
    1

    Default the land 292 acres of mysore kirloskar ltd belongs to state government

    as per gazette notification in 1949 the land 182 acres was acquired by state govt under section 5 of mysore land acquisition act under public purpose clause and same was given under agreement with lot of conditions .the important condition was that the land along with buildings was to be handed over back to the governmnet of karnataka. but the same has not been done and 156 acres of land wrongly auctioned by official liquidator high court of karnataka. also in 1969-70 the name of mysore kirloskar was fraudulently entered in the pahanis of all these lands. now the complaints ha s been lodged before state govt and steps to recover govt lands is not yet initiated.I invite all to join the fight call me on 9844128697 email ; ramehmn1959@rediffmail.com


    Quote Originally Posted by k1jatrophaoils View Post
    Dear members.
    One of the oldest companies and that too the pioneers in Machineries and Electrical Motors,Gensets namely M/s.Mysore Kirloskar Limited of Harihar is auctioned for hardlyRs.73 Seventythree crores disappointing lot of people like me.
    Indeed the company' s neighbour is M/S Grasim Industries of Aditya Birla group and in between them the River Tungabhadra extends her journey towards Hospet in bellary dist.
    The sucessful bidder is blessed with 192 acres of Land and vast potential to carry forward the similar trade.I sympathise with the promoters who are bit annoyed with some irresponsible labourers rsulting in lock out and ultimately the closure of a 54 year old company which protected thousands of families in Harihar.
    Here is another story of a similar company namely Standard Motor Products once the dominating auto Industry making cars and LCVs in Chennai in the 80s and rather unfortunate to witness the liquidation of the company promoted by MAC the founder of AASI.
    The property was auctioned and the suceesful bidder from Coimbatore namely Mr.Khannaiyan for Rs134crores did a guinness record in dishonouring a cheque issued towards the primary condition of 10% payment against the bidding value.The result sir,the liquidator had to bear a loss of Rs2.67lacs in the bargain and thus the Hon'ble court of Chennai Highcourt squashed the earlier bid and instructed to reauction by inviting a global tender.
    Summing up my shout, My friends the above two companies could be ideal for the promotion of various Industries and request the support of you to revive these units with a viable alternative and at the same time to be aware of people like Khannaiyans.
    Bhadrinath.

  3. #3

    Join Date
    Mar 2010
    Posts
    1,481

    Default

    k1 jatropha in chennai?
    Last edited by nostradamus; June 26th, 2016 at 03:11 AM.
    Recruiting Farm-labours/Farm caretakers for agri-farm/dairy farms/plantation(tea&coffee)
    If farm labour wanted,may call us: / sijishs@gmail.com / 9003828077/9487002125whtsapp http://ihrma.blogspot.com/

  4. #4

    Join Date
    Mar 2010
    Posts
    1,481

    Default

    k1 jatropha in chennai?
    Last edited by nostradamus; June 26th, 2016 at 03:14 AM.
    Recruiting Farm-labours/Farm caretakers for agri-farm/dairy farms/plantation(tea&coffee)
    If farm labour wanted,may call us: / sijishs@gmail.com / 9003828077/9487002125whtsapp http://ihrma.blogspot.com/

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