Bajaj Auto unveils new version of Avenger Street 160 model at Rs 82,253

Company News

Bajaj Auto Friday said it has launched a new version of its Avenger Street 160 model equipped with anti-lock braking system (ABS) priced at Rs 82,253 (ex-Showroom Delhi).

The new Avenger Street 160 has a single channel ABS along with a roadster design headlamp with LED DRLs, new graphics with larger insignia, black alloy wheels and rubberised rear grab, Bajaj Auto said in a statement.

Commenting on the launch, Bajaj Auto Vice-President (Marketing) Motorcycles Narayan Sundararaman said, "Avenger Street 160 with ABS provides contemporary styling whilst retaining its classical roadster design."

The discerning customer gets a definite step-up into the world of classic biking. This will open up choices to the entry-level sports customers, he added


 The new Avenger Street 160 will bring a sporty cruiser experience to the large set of emerging 150-160cc users, the company said.

NCLAT rules against Ingen for delaying Orchid Pharma resolution plan

Company News
The National Company Law Appellate Tribunal has directed the Centre to take action against US-based investor Ingen Capital Group LLC, its managing director and other directors for not implementing a resolution plan for Chennai-based Orchid Pharma after its proposal was selected by the Committee of Creditors (CoC) and National Company Law Tribunal (NCLT) for implementation. The order comes on a plea filed by Ingen Capital against the Resolution Professional (RP) with the appellate tribunal.

An NCLAT bench comprising Justice S J Mukhopadhaya and Justice Bansi Lal Bhat directed the Centre through the Ministry of Corporate Affairs to take appropriate steps.

"If the appellant (Ingen Capital) has no office in India then the Central Government through Ministry of Corporate Affairs may take up the matter with USA, where the appellant company is situated," said the order.

The appelate tribunal ordered Ingen Capital to be deposit Rs 10 lakh in favour of the CoC within 30 days. The bench observed that Ingen failed to deposit the amount at an earlier date.

The tribunal in an order on February 1, 2019 issued a show cause notice to Ingen Capital directors Umesh Bhatia and Harish Bhatia "as to why appropriate action be not taken against them and the NCLT, Central government and its agancies be not asked to take appropriate steps against the company and its directors and why cost not be imposed on them."


 With the directors not submitting a proper reply, the NCLAT in an order dated March 1, 2019, sought the investor to file show cause reply within three weeks, failing which the Appellate Tribunal may initiate a contempt proceeding against them and may issue bailable warrant of arrest.