The Chandigarh consumer redressal commission has ordered a 6-month jail term for Tata Motors managing director Karl Slym.
The commission has also slapped a penalty against him. The action by the consumer commission reportedly is on the back of Tata Motor’s failure to comply with a notice to replace faulty parts of a newly-sold Tata Nano.
A company spokesperson, in response to CNBC-TV18’s queries said that they will study the order and take appropriate action. On their part, they claim that despite repeated attempts to pay the consumer compensation and despite repairing the car, they did not receive any co-operation from him.
Tata Motors stock price
On November 30, 2015, at 15:28 hrs Tata Motors was quoting at Rs 422.95, up Rs 5.40, or 1.29 percent. The 52-week high of the share was Rs 612.05 and the 52-week low was Rs 279.15.
The latest book value of the company is Rs 78.55 per share. At current value, the price-to-book value of the company was 5.38.
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