Lockdown impact: On World Bicycle Day, famous Atlas Cycles shuts down, 700 people lose jobs

“Post lifting of lockdown with effect from June 1, 2020, Sahibabad unit of the company is not in a position to resume manufacturing operations due to financial constraints. Hence, the workforce of Sahibabad unit of the company will be laid off with effect from June 3, 2020, till adequate arrangement of funds is made,” the company said. The company said that due to severe cash crunch, it was difficult for the company to even procure raw materials.

Maruti turns attention to its used-car showrooms..goes online

True Value showrooms are spread across 280 towns and cities in the country..Over 400 True Value outlets are currently operational as per government guidelines. Maruti has taken the used-car segment online and now offers a seamless and personalised buying experience – not just for new vehicles but for used cars as well under the True Value chain. The website and a mobile application will assist in the buying process of pre-owned vehicles in a bid to ensure the option of avoiding physical contact can be taken