Liquidity problems delay vendor payments: Tata Motors

Liquidity problems delay vendor payments: Tata Motors
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First Published: Thu, Feb 05 2009. 04 22 PM IST
Updated: Thu, Feb 05 2009. 04 22 PM IST
Mumbai: Tata Motors Ltd, is delaying payments to vendors because of liquidity problems, its managing director said on Thursday.
“We have created a vendor council. All problems with vendors are being discussed and all mutual solutions are being worked out,” Ravi Kant told reporters at a news conference.
He said three-quarters of dues to vendors were paid immediately through an arrangement with banks.
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First Published: Thu, Feb 05 2009. 04 22 PM IST