Nano- The people's car

Images of Nano:


Making of Nano:

* March 2003: Ratan Tata discloses plans to launch the world's cheapest car at Rs 1 lakh at the Geneva Motor Show

* May 2006: Tata Motors announces setting up Nano manufacturing unit at Singur in West Bengal with initial investment of Rs 1,000 crore spread over 700 acres; scaled up to 1,000 acres with total investment of Rs 1,500 crore.

* Oct 2006: Trinamool Congress opposes Tata Motors' plans to set up factory at Singur, calls 12-hour state-wide bandh alleging forcible acquisition of farmers' land.

* Dec 2006: Violence mars Singur, five hurt in rubber-bullet firing. Mamata Banerjee goes on indefinite hunger strike, which was called off after 25 days following appeals from the Prime Minister and the President.

* Jan 2007: Land puja offered at Singur car project site

* Feb 2007: Police-mob clash at Singur.

* Mar 2007: WBIDC signs a 90-year agreement with Tata Motors for Nano plant; farmer commits suicide; Mob attacks proposed site; bomb explosion damages fencing

* May 2007: Peace talks between state government and Trinamool Congress fail; one more farmer commits suicide

* June 2007: CPI(M) patriarch Jyoti Basu echoes Mamata Banerjee's demand that only 600 acres is required for the Singur project instead of 1,000 acres, but state government rules out returning Singur project land to farmers

* Nov 2007: Central forces deployed at Singur after fresh protests

* Jan 2008: Ratan Tata unveils Nano at Auto Expo in Delhi; Calcutta High Court orders Singur land acquisition legal

* Mar 2008: Nano showcased at the Geneva Motor Show

* May 2008: Supreme Court refuses to stay Nano roll-out from Singur

* June 2008: Singur protesters break factory gate

* Aug 2008: Talks between West Bengal Chief Minister Buddhadeb Bhattacharjee and Mamata Banerjee, who demanded return of 400 acres to farmers, fail. Subsequently, Ratan Tata threatens to exit from Singur. It was followed by Trinamool Congress' indefinite dharna. Factory workers stay away from work after assault.

* Sep 2008: WB Governor Gopal Krishna Gandhi intervenes. Agreement signed between state government and Trinamool Congress but it is shortlived. Mamata Banerjee holds rally demanding return of 300 acres of land. Security guards at Singur factory attacked.

* Oct 2008: Ratan Tata formally announces pulling out of Nano plant from Singur and days later declares Sanand at Gujarat as the new manufacturing location for Nano at an investment of Rs 2,000 crore

* Feb 2009: Tata Motors announces launch date of Nano to be March 23.

* Mar 2009: Ratan Tata unveils European version of Nano with added features and complying with Euro V emission norms at the Geneva Motor Show; Nano makes commercial debut.

Man behind Nano- Ratan Tata:
Ratan Tata headed Tata Motors may accumulate large profits from Nano project but it is also true that Nano will change the living standard and mentality of middle class in India. Idea of building a car of 1 lakh without compromising on quality standards made Ratan Tata a person who thinks beyond the business.According to Ratan Tata, "What drove me-a man on a two-wheeler with a child standing in front, his wife sitting behind, add to that the wet roads-was a family in potential danger."
Promises of Nano:
1. Imagine a car within the reach of all(Base model at 1.23 lakh in Delhi).
2. Feel the safety of big car in a small car.
3. Ample space to carry your family.
4. Drive ahead with 23.6 kilometers/litre.
5. Less parking space.

Dealers deal for Nano:
The typical dealer margin on passengers cars & utility vehicles is between 3-3.5% on the value of the bill but in the case of Nano it is likely to be between 2-2.5%, thus dealers would have to sell large volumes of cars to make money.
As the popularity of Nano is on peak, dealers are not going to be affected in any way.
Typically, about 70% of a car's dealers revenue comes from businesses like servicing, arranging finance, sales of spares parts and accessories, insurance renewals, offering driving lessons etc.
Tata Motors dealers earn 1-1.5% on loan, 15% on insurance cover, around 5-6% on sales of spares part, but this may also go down in case of Nano.
Contact number in case of quaries:
For any queries, doubts or clarifications please call call centre at 020-66495677.

Indian Business Law

Business laws in India are as old as Barter System. It is not that there were no business laws under the monarchy system, but the timeline of modern business laws in India starts from 1600 A.D. Still traces of these laws can be found today and are exercised in the court of law.

The foundation of the east India Company was the major landmark in the Indian legal history. The company was set up under the British Crown’s charter of 1600.The charter conferred corporate character and juristic personality of the company. It granted power to make laws for its government and to impose such fines and penalties as might be necessary to impose these laws.

Sources of Indian Business Law:

1. English Mercantile Law: Lex mercatoria is the Latin expression for a body of trading principles used by the merchant throughout Europe in the medieval. Meaning literally ‘law merchant’, it evolved as a system of customs and best practice, which was enforced through a system of merchant courts along with main trade routes. It functioned as the international law of commerce.

The English Mercantile law constitutes the foundation on which the superstructure of the Indian Mercantile law has been built.

2. Statutory Law: Statutory law is written law set down by the legislature or other governing authority such as the executive branch of the government in response to the perceive need to clarify the functioning of the government, improve civil order to codify existing law, or for an individual or company to obtain special treatment.

In context to India, all laws are statutory i.e when ‘Bill’ is passed by the Parliament and signed by the President of India; it becomes an ‘Act’ or a ‘Statute’. The bulk of Indian of Indian Mercantile law is a statutory law.

3. Judicial Decisions: The past judicial decisions of courts are important sources of law. Sometimes there is no statutory provision which can answer a legal question raised in a law suit. In such cases the court will look into the previous court decisions on similar matters to find the relevant law.

The precedents set by the higher courts have a binding force on lower courts and the precedents set by the same courts of the same status like High Courts of different states have persuasive value for each other.

4. Customs and Usages: Customs and usages of a trade play an important role in business dealings of that trade. As a matter of fact they have a binding force on the parties, like by the mercantile usage prevailing in the Delhi Iron Market among big merchants, no interest can be charged on the unpaid price for transactions before 1917. To have a binding force, the custom or usage must be certain, reasonable and well known.