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TAFE, the second largest tractor manufacturer in India and third largest in the world, has asserted its claims over the ownership of Massey Ferguson brand in a case filed before the Madras High Court.
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- The Commercial Court in Chennai has ruled in favour of TAFE with an interim status quo order with respect to the Massey Ferguson brand.
- Tractors and Farm Equipment Limited (TAFE) has filed a petition against AGCO for disobedience of the orders of the court in a contempt petition in Chennai.
- Since its inception in 1960, TAFE has produced and built the Massey Ferguson brand offering a wide product portfolio of over 500 models in India.
- TAFE acquired shareholding in AGCO corporation commencing in 2012 to become its single largest shareholder and strategic long-term investor.
- This strengthened the collaborative relationship between the companies, and TAFE and AGCO signed ‘Letter Agreements’ that are claimed to have for over a decade assured AGCO of steady support.
Drive Safe,
350Z