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The NCLT has dismissed an insolvency plea against the Indian unit of telecom gear manufacturer ZTE filed by TVS Supply Chain Solutions after observing a pre-existing dispute between the parties. A Chandigarh-based bench of the National Company Law Tribunal (NCLT), the debt claimed by TVS Supply Chain Solutions was disputed and under reconciliation dating back to 2017, well before the statutory demand notice. "In view of these facts, we hold that this being a case of preexisting dispute, the Application under Section 9 is not at all maintainable," said the NCLT bench, comprising members Kaushalendra Kumar Singh and Khetrabasi Biswal. TVS Supply Chain Solutions, earlier known as TVS Logistics Services, had moved the insolvency tribunal claiming a default of Rs 4.27 crore from ZTE Telecom India by filing a plea under section 9 of the Insolvency & Bankruptcy Code. The dispute is for the period June 2012 to February 2019. ZTE, a telecom equipment supplier for companies like Reliance, ..
Television makers are lowering the prices of their products in the range of Rs 2,500 to Rs 85,000 to pass on the GST cut benefit to consumers, and expect a robust sales during the festival season beginning Monday. In an effort to boost consumption, the GST Council earlier this month decided to reduce tax rates on goods and services from September 22 -- the first day of the Navaratri, leading to price cuts of various items like television and other white goods. The duty on TV sets with screen size above 32 inches will reduce to 18 per cent from the existing 28 per cent. TV makers have already announced price cuts in the range of Rs 2,500 to Rs 85,000, depending on the screen sizes and specifications, in order to extend the benefit of a 10 per cent reduction in GST to the consumers. The TV industry, which has had almost flat sales in the first half of this fiscal (April to September) so far, expects a spike in sales during festivals, starting with Navratra this week. Moreover, the ..
TVS Motor Company on Thursday expanded its electric commercial vehicle range with the introduction of a three-wheeler for the cargo segment. The company had forayed into the electric three-wheeler segment earlier this year with the launch of the King EV MAX to cater to the passenger segment. TVS King Kargo HD comes with a driving range of 156 km and is priced at Rs 3.85 lakh (ex-showroom). TVS Motor Company Head Commercial Mobility Business Rajat Gupta said the model would also be launched in CNG trim later this year. He noted that electric models are witnessing robust acceptance and the segment is likely to account for 60 per cent of the overall three-wheeler market by 2030. Gupta noted that EV models sold around 20,000 units last year, which is roughly 31 per cent of the overall 60,000-unit three-wheeler market. "As far as the cargo segment is concerned, around 10,000 units are getting sold each month, with diesel accounting for 50 per cent and EV and CNG accounting for 25 per
Global supply chain solutions provider TVS Supply Chain Solutions Ltd has reported a consolidated profit after tax for the April-June 2025 quarter at Rs 71.16 crore, the company said on Sunday. The city-based firm had registered a profit after tax of Rs 7.47 crore during the corresponding quarter of the last financial year. Revenue from operations during the quarter under review marginally went up to Rs 2,592.31 crore from Rs 2,539.39 crore registered in the year ago period. In a statement on Sunday, the company said the share of profit from TVS ILP (Industrial and Logistics Park) business, in which TVS Supply Chain Solutions holds 25.2 per cent stake, was Rs 177.23 crore during the April-June 2025 quarter. "This was subsequent to the transfer of 11 million sq ft of warehouse space as part of the Infrastructure Investment Trust listing," the statement said. Aimed at further strengthening its end-to-end solutions offering, during the quarter under review, TVS Supply Chain Solutions .
TVS Motor Company on Tuesday announced its foray into the Indonesian electric two-wheeler market with its all-electric scooter iQube. The company's arm PT TVS Motor has opened bookings for iQube in Indonesia at an introductory price of IDR 29.9 million (around Rs 1.6 lakh), TVS Motor Company said in a statement. "Electric vehicle (EV) adoption in the two-wheeler segment of Indonesia has seen a strong growth of 101 per cent CAGR (compound annual growth rate) in the last three years. We are pleased to partner with the government efforts on promoting EVs with a reliable, high quality product and attractive pricing in the form of TVS iQube," TVS Motor Company, Senior Vice-President ASEAN, James Chan said. The company said its electric scooter will be assembled at the PT TVS Motor Company manufacturing facility at East Karawang. "We are constantly striving to develop EV capability across our sales and after-sales network to deliver a superior customer experience," Chan added. TVS Motor
Sundaram Finance Holdings Ltd reported a consolidated profit after tax of Rs 107.12 crore for the JanuaryMarch 2025 quarter, the company said on Friday. The Chennai-based firm had posted a profit after tax of Rs 269.32 crore in the corresponding quarter of the previous financial year. For the financial year ended March 31, 2025, consolidated profit after tax stood at Rs 412.08 crore, compared to Rs 533.14 crore in the year-ago period. In a statement, the company said the profit before tax in FY24 included a one-time gain of Rs 175.67 crore from the redemption of non-convertible redeemable preference shares of TVS Holdings Ltd. Excluding this, net profit for FY25 rose 15.28 per cent. Similarly, the profit before tax for the March 2024 quarter also included the same one-time receipt. Excluding it, net profit for the March 2025 quarter rose 14.38 per cent, the company said. Sundaram Finance Holdings primarily operates as a holding company with a portfolio of automotive businesses, ..