Tata Motors MD Ravi Kant told media persons yesterday that payments for 25 per cent of the company’s purchases could be delayed. He said that 75 per cent of Tata Motors’ purchases were from vendors who were covered by the Bill Marketing Scheme. Under this scheme, the vendor is paid by a bank which is paid by the company at a later date. For those not covered under the scheme, there may be delays in payment, Mr. Kant said. He, however, did not say anything about the debt amount and when payments would be made.
The company’s January sales have grown compared to sales in the previous month, and it expects to fare even better this month. As sales escalate, the vendor-payment situation will also improve.
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