Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
25 April, 2024 12:28 IST
Greaves Cotton campaigns against spurious spare parts
Source: IRIS | 12 Mar, 2014, 04.59PM
Rating: NAN / 5 stars.
Comments  |  Post Comment

Greaves Cotton embarked on an initiative to curb the growing sale of spurious auto parts. The company is conducting nationwide raids to expose the increasing spurious parts business.
 
The products seized from just three hubs in North India stood at Rs 20 million.  The total market for auto engines related spurious parts is approximately Rs 4 billion. Some of fake products unearthed by the enforcement team are camp folleniers, rockers, bearings, rocker arms, ring sets, pistons, cam shafts, connecting rods, feed pumps, ring sets, push rods.

The enforcement team consisting of the Indian Police and Greaves Cotton's legal team have been working closely to identity both manufacturing units and selling outlets and locations of counterfeit spares across major cities and trade hubs in India.  The most recent raid concluded at Kashmeri Gate, North Delhi resulted in the seizure of Greaves parts worth Rs 10 million.
 
Sunil Pahilajani, managing director & CEO said, "Manufacturing and selling of spurious parts is a serious risk that we face today. We believe that we as an ethical corporate entity have responsibility and accountability to over 4 million of our customers. Greaves Cottons' endeavour is to ensure world class aftermarket service, including availability of genuine spareparts to our consumers. Our ongoing campaign has helped expose multiple manufacturing units and selling points in North India who are found dealing in spurious parts. We intend to carry forward this initiative across the country."

 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer