Vice-chairman of Mahindra Finance to meet Amit Mitra

Ramesh Iyer, vice-chairman and the managing director (MD) of Mahindra & Mahindra Financial Services Ltd (Mahindra Finance) and a delegation of the M&M group will meet Bengal Finance, Excise, Commerce and Industry minister Amit Mitra early in November.

Iyer was recently re-designated as vice-chairman and managing director of the Board of Directors at financial sector arm of M&M group.

A letter has reached to the state secretariat from the Mahindra Finance requesting the appointment with the finance minister early in November.

It may be recalled that Mitra had a meeting with Anand Mahindra, the chairman and managing director of Mahindra Group in the national Capital a few months ago.

They had a discussion over investment in <g data-gr-id="31">Bengal</g> especially in the automobile sector. Mahindra reportedly expressed his desire to come to Kolkata for further discussion.

A secretariat source informed that the M&M group team would like to meet the minister on November 4. But if the date did not match the schedule, they have proposed two more dates on November 9 or November 10.

However, amidst the much hush-hush about the agenda of the meeting, it was learnt that investment would be the prime focus of the discussion as the state government is already giving land for the automobile industries which Chief Minister Mamata Banerjee had earlier cleared.

As the state government is looking for the alternative to Tata Motors, Mahindra Automotive could be one such company. Mahindra Finance – which is primarily overseeing high standards of corporate governance, compliance with various laws and overseeing financial management and approving various lines of business – would examine the proposals of the state government for investment in Bengal soil. 

However, the M&M group is all set to launch its ‘Electric Smart City Car – e2o plus’ in Kolkata on Friday. Mahesh Babu, a first line officer of Mahindra Electric, would launch the car in Kolkata. The car has already reached the market in some of the Indian cities.

However, state government’s investor friendly outlook, land related issues and infrastructure <g data-gr-id="36">is</g> to be discussed. The source close to <g data-gr-id="39">development</g> <g data-gr-id="41">said,</g> the M&M group team may visit a prospective land for <g data-gr-id="40">automobile</g> industry. Information technology, logistic and real estate may also be the key areas for discussion.