Financial Daily from THE HINDU group of publications
Friday, Feb 25, 2005
Financial Daily from THE HINDU group of publications Friday, Feb 25, 2005 |
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Corporate
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Announcements Bajaj Tempo to be renamed as Force Motors Our Bureau
New Delhi , Feb. 24 BAJAJ Tempo Ltd, a Firodia enterprise, will be re-christened Force Motors Ltd. According to the company, an extraordinary general meeting of members will be held on April 5 to approve the new name. The key reason for the name-change is the request from its former financial collaborator, DaimlerChrysler AG (DCAG), which has requested the company to discontinue using the word `Tempo' which is originally its registered trademark. Bajaj Tempo has been directed by the Government to propose the new name as provided under Section 22 of the Companies Act, 1956. It has now decided to go ahead with the name-change. Section 22 of the Companies Act provides that when the name of a company is identical to a registered trademark, the Union Government can direct that company to change its name, by passing an ordinary resolution. DCAG exited the company in 2001 by selling its shareholding to Firodias, but allowed easy transition on the name-change front. It had signed a new technical collaboration with Bajaj Tempo in 2003, to provide technology for common rail diesel engine. Bajaj Tempo is also an important supplier to DaimlerChrysler India, for the entire requirement of Mercedes engines in India.
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