Nissan Sues over unpaid saare incentives

Vastavam web: Japanese automaker Nissan Motor has begun international arbitration against India to seek more than $770 million in a dispute over unpaid state incentives, according to a person familiar with the matter and documents reviewed by Reuters.

In a legal notice sent to Prime Minister Narendra Modi last year, Nissan sought payment of incentives due from the Tamil Nadu government as part of a 2008 agreement to set up a car manufacturing plant in the southern state. According to the notice, Nissan said repeated requests to state officials for the payment, due in 2015, were overlooked and even a plea by the company’s chairman, Carlos Ghosn, to Modi in March of last year seeking federal assistance did not yield any results.