Probe Agency Order In Tech Mahindra Money Laundering Case, Set Aside

Probe Agency Order In Tech Mahindra Money Laundering Case, Set Aside

The agency provisionally attached the amount alleging that it was ill-gotten proceeds of Satyam Computers


The Hyderabad High Court today set aside an Enforcement Directorate order provisionally attaching Rs. 822 crore worth of fixed deposits belonging to Satyam Computer Services Ltd, which was acquired by Tech Mahindra.

In 2012, the Enforcement Directorate (ED) had issued provisional attachment orders freezing fixed deposits of Satyam (now merged into Tech Mahindra) in connection with its probe in the money laundering case.

The agency provisionally attached the amount alleging that it was ill-gotten proceeds of Satyam Computers.

A bench of Justices V Ramasubramanian and J Uma Devi today set aside the ED’s orders.

Vivek Reddy, counsel for Tech Mahindra, told PTI they argued that there was no money when the Tech Mahindra took over the fraud-hit Satyam Computer Services Ltd (SCCL) in 2009 and on the other hand, the Mahindra group company had to infuse money to revive the B Ramalinga Raju-founded company.

“Our argument was that there was no proceeds of money when Tech Mahindra (TechM) took over the company (SCSL). There was no money in the company then and they (TechM) had to infuse money into the company.

“So where is the question of any ill-gotten money when the company had negative balance?” he said.

P V P Suresh Kumar, representing the ED, said the agency might approach the Supreme Court challenging the high court’s order.

“One of the strongest grounds (for an appeal in the top court) was that the CBI special court had earlier convicted Ramalinga Raju and brothers.”

“In view of that conviction, it clearly shows that there was a contravention of the Money Laundering Act and IPC provisions. In such a situation, the attachment order passed by the Enforcement Directorate was valid and correct, according to the contravention,” Mr Kumar said.

“The ED will approach the Supreme Court after going through the order copy,” he said.

Earlier, a single bench judge had stayed all further proceedings pursuant to the ED’s attachment order.

Challenging the single judge order, the probe agency had filed a writ appeal before a division bench.

The bench had in 2014 issued orders dismissing the ED’s appeal, saying the act of the agency was contrary to rules.

Tech Mahindra argued that it was a victim of fraud and no proceedings could go under the provisions of the PMLA against “victims of fraud”.

The ED had attached the accounts of SCCL as its probe claimed to have found that B Ramalinga Raju and his associates “wrongfully” offloaded inflated shares of the company by way of sale or pledging of shares.


Uber, Mahindra Partner to Deploy Electric Vehicles in India

Uber, Mahindra Partner to Deploy Electric Vehicles in India

Mahindra & Mahindra (M&M) will team up with Uber to explore deployment of electric vehicles (EVs) on the cab aggregator’s platform in several cities across India, the automaker said Friday.

The company, which has already tied up with Uber’s rival Ola to build an electric mass mobility ecosystem in Nagpur, will deploy “hundreds of electric vehicles in Delhi and Hyderabad” under the new partnership.

Mahindra’s electric vehicles on the Uber platform will include the e2oPlus hatch and the eVerito sedan.

“Our collaboration with Uber is an important next step to help accelerate the large scale adoption of electric vehicles on shared mobility platforms and meet the nation’s vision for EVs,” M&M Managing Director Pawan Goenka told reporters in Mumbai.

As part of this collaboration, both the companies will also explore deployment of Mahindra electric vehicles in other cities.

On the tie-up, Uber Chief Business Officer, India and Emerging Markets, Madhu Kannan said the company aims to build a more sustainable future of mobility, moving more people requiring on-demand services with fewer, fuller, and more efficient vehicle trips.

“We see a key role for high efficiency vehicle technologies and therefore, believe that this collaboration with Mahindra, the pioneers in the electric vehicles space, will be truly beneficial not just for Uber, but for our driver partners, riders and the cities we operate in,” he added.

As part of the arrangement, driver partners on the Uber app can avail of a package that will include Mahindra electric vehicles at competitive prices, attractive financing and insurance premiums as well as comprehensive maintenance packages from M&M and its associates.

Furthermore, to make this model durable, M&M and Uber will work closely with public and private players which are in the process of setting up a common use charging ecosystem across multiple locations in the cities.

M&M will also support driver education and training related to various aspects of electric vehicles.


Mahindra KUV100 Evaluate

Mahindra KUV100 Rear


Desirable on Space, SUV Enchantment, New Engines, & M&M has finished nicely with Prices
Length of an access stage hatchback however the styling of an SUV
All-new 1.2-litre Petrol Engine
7 Versions with five-, 6-seater alternatives
ABS, EBD standard; Dual Airbags optional
Competition: Hyundai Grand i10 & Maruti Suzuki Quick
Mahindra KUV100
Mahindra KUV100
five.11 lakhOn Road Price (Mumbai)
Book NOW
Mahindra KUV100, which has been launched in India at four.42 lakh (ex-showroom, Pune), is a name (that like its stablebuddies the TUV300 and XUV500) will take quite lots of having used to. The KUV nomenclature comes from Cool Software Car (yes cool with a okay!) and is in step with Mahindra’s obsession of forcing alphanumeric names down our throats, even when names like Scorpio and Bolero wereattractive, iconic and specific! However that being said, soon we will be used to it anyway, so let me alsofast tell you that the plan from Mahindra is easy. All monocoque vehicles that percentage a platform with the modern XUV500 within the destiny will bring the XUV prefix, those that share the ladder bodyplatform of the Scorpio will be badged TUV-something and the compact cars on the new S101 platformmay be branded KUV.

Mahindra KUV100 Rear

The element that I once more applaud Mahindra for is sticking to the promise made two years in the past.Each variation of every new launch may have elective if now not popular protection gadget. Wenoticed that with the Scorpio, the TUV300 and now the KUV100 contains that ahead. The KUV100 in truthalso has ABS as preferred across the range anyway – a large plus in this segment. We have seen that Mahindra’s bold and innovative stance on protection has made purchasers extra aware and fascinated. M&M sales show that greater of them choose the safety rather than skimp on it with the aid of themanner, which could be very heartening. It has additionally forced the Opposition to rethink protection – In 2014 we saw M&M, Toyota and VW get proactive on safety, and in 2015 it turned into in the end themarketplace leaders Maruti and Hyundai which have additionally got in line. So kudos again Mahindra!

The Mahindra KUV100 can now be booked at the carandbike website. Click right here to Book yours these days!
So now let me let you know all about the new KUV100. The car is a subcompact crossover – I guess this is how it’s miles positioned. But appearance nearer and you comprehend that the employer that statedit’s going to never make vehicles, handiest United states of americahas made a small car! The KUV100 has access hatchback proportions, and sits below 4 metres in length at 3675mm. it is tall though at 1655mm (which includes the roof rails which can be to be had best at the top Versions). In terms oflooks the KUV100 is formidable and currentthough as normal Mahindra has erred at the facet of overstyling than opting for the subtle direction. Having stated that, the KUV100 is attractive, and has lotshigher construct and metallic surfacing than present Mahindras. The Evoquesque headlamp cluster that extends all the manner back over the fender and wheel arch is wonderful, and additionally contains The car‘s call. The daylight jogging LEDs are most effective the preserve of the topstop K8 version sadly.

Mahindra KUV100 The front Area
The K8 variant additionally gets alloy wheels, and the beginprevent feature for more suitable efficiency. It also gets chromed accentuated fog light housing and rear door handles. Speaking of those, the handleson the rear are like those within the Chevrolet Beat, built into the window/Zone glass place. I certainly like them in black – as the complete factor of setting them there may be to conceal them! Oh nicely!

The KUV100 marks Mahindra’s severe access into the petrol segment. Whilst M&M has provided petroloptions in the past on models like the Scorpio, that is the primary indigenous petrol engine it has designed and constructed by Mahindra at its Chakan plant. The mFalcon engine improvement programmestarted out five years ago, and has added new leaner modular diesel and petrol engines to both Mahindra and SsangYong. The 1.2 litre iteration of the petrol engine badged G80 has long gone into the KUV100,Even as its 1.6 litre avatar does duty within the SsangYong Tivoli. In addition the 1.2 litre diesel engine badged D75 is what we have become now, Whilst there are 1.5 litre (future M&M merchandise) and 1.6 litre iterations (SsangYong Tivoli) of that engine too.

also Examine: Belongings you Want To Realize approximately Mahindra KUV100

I drove both the engines, and in a gist let me say that they do impress. Electricity transport at the diesel iseasy, it also sounds growly and offers plenty of torque. The peak torque of a hundred ninety Nm kicks inas little as 1750 rpm, and affords Top driveability – even in metropolis kind forestall and cross visitors. The five Velocity manual gearbox does nicely, though a vehicle of this Length could do nicely with an automatic too – and i suggest automatic (Study AISIN 6 Pace vehicle just like the Tivoli’s) not an AMT.But Price pressures may additionally suggest while Mahindra decides to move auto with the KUV100 it’llend up being an AMT like the TUV’s. For now although all you get is a manual vehicle.

Mahindra KUV100 Dashboard
The petrol is also growly – and that may be a bit of a marvel, But force The auto for a bit and also yourecognize it isn’t always like this is an unrefined engine, it just is its nature. The auto hastens faster with this engine, and there is lots of Electricity available, specially whilst you‘re inside the 3500 and 5500-rpm band. The specs examine properly with the rival hatches, However having said that in assessment to the EcoSport. The automobile‘s suspension and journey quality can even galvanize. I do think the Grand i10 handles better, and the KUV100 ought to‘ve used a smoother steering although. but the consolationissuespecifically while sitting at the again, became a wonderful marvel for me. The cabin in fact iscozy. General feel of Area is ideal, and Mahindra has stayed with the darker tones. Fabric excellent is good, but the perceived sense of first-class you get from the Grand i10 is missing. Common sprint and console layout even though is present day and quite funky – an intentional brief to the designers. that isdue to the fact the KUV100 is being targeted at upwardly mobile and younger customersindividuals who may be deciding on their first Vehicle, or upgrading from an entry level hatch. And this is why itadditionally has functions like Bluetooth and iPod connectivity, guidance established controls that suchbuyers look for.

also Examine specs comparison: Mahindra KUV100 vs Hyundai Grand i10 vs Maruti Suzuki Swift

The KUV100 comes in 4 Versions: K2, K4, K6 and K8 (there are K4+, K6+ Versions which have Twinairbags). Apparently the K2 and K4 do now not have any of the cladding that accentuate The car‘s SUV like stance. I might truely want to test the ones, to peer how hatch-like the KUV100 then seems. The auto is being offered as a 6 or five seater. The bottom K2 variation most effective comes inside the 6-seater configuration, While you may choose the 5 or 6-seat configuration inside the other Editions. So how does the sixth seat work? The Front seat is bench-like, and Mahindra insists is safe for a third, center occupant. The center seat has its personal seatbelt and whilst no longer in use, its again may be collapsed to offeran armrest for the Front passengers. it’s far only a lap belt although, and no longer a threefactor belt,which is a miss for me. Now before you soar to visions of the Datsun cross, additionally recollect highergeared up and safer cars like the Fiat Multipla, which additionally had 3 The front seats in Europe. What I do Want to Understand from Mahindra is whether or now not the Dual airbags within the 6-seater modelconvey a much wider passenger side airbag than the 5 seat variantlike the Multipla has as an example.

Mahindra KUV100 Bootspace
The KUV100 is available in 7 colors – the orange, crimson, grey, aqua blue, and the inevitable silver, white and black. I’ve to say the orange looks Precise, However I think the grey may be my 2d favored. Will the KUV100 get an AMT is a query I’m hearing plenty – and the answer is Mahindra desires to wait andexamine purchaser remarks earlier than leaping right into a hasty decision. In the long run, it may bebetter for M&M and SsangYong to get into a bigger (Study greater lucrative) sourcing deal for an automated gearbox, which may prove greater a hit than an AMT. But given the initial reaction, I reckon Mahindra will already be taking into consideration Editions and cost provides for the KUV100.
Mahindra KUV100 Mileage: 25.32Km/l (Diesel) and 18.15Km/l (Petrol)

Review: Mahindra TUV300 mHawk100


The new variation of the Mahindra TUV300 churns out 100bhp
It is handiest available on the pinnacleend T8 version
Will rival the Ford EcoSport
Mahindra TUV300
Mahindra TUV300
7.seventy seven lakhOn Street Fee(Mumbai)
E book Check Pressure
Mahindra launched the TUV300 in September final 12 months and at the same time as inside the first month itself, it controlled to promote extra than 4000 gadgets of the car; April 2016 saw a stark drop inincome and the numbers touched just about 2000 units. Mahindra really wished a game plan to preservethings thrilling with the TUV300 and It is now not most effective listened to its clients but additionally usreporters who’ve voiced our opinion approximately the auto being underneath powered. We’ve said thiseven if we in comparison it with the Ford EcoSport and looks like the employer has been being attentive to all and sundry that is why we see the mHawk100 engine (the same as the only at the NuvoSport) make its way into the SUV.

Mahindra TUV300 mHawk100 badge

Sure, It’s a powerful version of the TUV 300 and comes with a 16bhp hike in power taking the wholeoutput to 100bhp. There aren’t any beauty modifications to the car and the most effective manner to tellit apart from the much less effective one is the mHawk100 badge on the aspect of the automobile. Beside the bump in power, there’s a bump in torque figure as well. there is 10Nm extra torque on offer taking thediscern as much as 240Nm.

Mahindra TUV300 mHawk100 Powertrain

So, let‘s get all the way down to how it is to Force. Does the additional energy and torque make adistinction? properly, you don’t genuinely feel the distinction because the power even within the 84bhp one is to be had from as little as 1500rpm. The preliminary response, then, from the engine is the equalhowever it is while you get to the mid-variety, is where you notice all the distinction. The torque is nowto be had right up to 2800rpm as opposed to 2250rpm inside the 84bhp version that is why the pullingpower of the auto is multiplied and It’s the extra push that makes it higher in terms of drivability.

Mahindra TUV300 Gets a bump in power

The 1.5-litre diesel, subsequently offers that extra thrust and that is available in reachable when youwant to overhaul. All you do is downshift and the engine growls a chunk but there is all the energy youneed to make your move. The response from the engine is higher and the TUV300 feels a good dealconfident too, however now not a whole lot around corners.

Mahindra TUV300 mHawk100 Rear

The TUV300 consists of ahead the frame roll and you count on that, due to the fact there are not anymechanical adjustments made to the SUV. The TUV300 with the mHawk100 engine is to be had in each thefivespeed guide and AMT variant, but the agency is simplest making it to be had in the topend T8variation, so the T4 and the T6 variations aren’t aware about this alteration in energy.

Ordinary profile remains unchanged

however the added power does have an impact at the gasoline performance figures, and it falls from 18.49km/l to 18.05km/l and even though it may not appear too full-size, It is an predicted drop. There aresome adjustments at the inner though the ones are restrained to the rear seats as the length of the cushion has been extended as additionally underneath-thigh aid is higher as compared to the 84bhpmodel. The rest of the capabilities on the interior remain the identical.

Mahindra TUV300 mHawk100 Cabin

The 100hp TUV300 comes priced at eight.98 lakh for the manual variant and nine.seventy two lakh for the AMT and so it does come at a premium Rate, however with these changes, Mahindra is making a trueeffort to tell the customers available that it’s miles listening to them and running to make its vehicleshigher.