Among the automobile manufacturers who plan to move the Supreme Court are Tata Motors, Ashok Leyland and M&M. They account for 95 percent of the CV market.
Commercial vehicle makers are likely to move a caveat in the Supreme Court against the Bharat Stage-III (BS-3) ban order, sources close to the information told CNBC-TV18. The CV manufacturers are likely to ask for a three-month extension to sell the BS-3 vehicles in their inventory.
CV makers have roughly 30,000 units lying unsold, which could lead to a loss of over Rs 2,000 crore, said sources. Half of the unsold inventory (around 15,000) is with Tata Motors.
Ashok Leyland had confirmed that 10,664 units of its commercial vehicles were impacted by the Supreme Court ban on BS-3 vehicles, but the financial hit will be minimal as the affected engines would be upgraded for after-market sales.
The Hinduja flagship firm said the BS-III engines would be upgraded to BS-4 standard using its new intelligent exhaust gas recirculation (iEGR) technology.
On March 29, the Supreme Court had declined to postpone the ban on sale of BS-3 vehicles from April 1.
(With inputs from PTI)Watch video for more...