Micromax Owners arrested in Bribery Case

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Shivani
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Joined: Wed Jan 16, 2013 1:57 pm

Micromax Owners arrested in Bribery Case

#1 Postby Shivani » Thu Aug 08, 2013 11:00 am

CBI on Wednesday arrested two owners of Micromax Mobile for allegedly bribing the Municipal Corporation of Delhi officials for a banquet hall in the city, they were arrested from Timarpur area in north Delhi. According to the reports Agrawal and Tuli had entered into a deal with engineers in exchange for a bribe of Rs 50-lakh and the two negotiated to bring down the amount Rs 30 lakh.

Micromax a well known brand for manufacturing mobile telephones, tablets, data cards and LED televisions. It has 23 domestic offices across the country and international offices in Hong Kong and Dubai.It is the third largest mobile brand in India with a market share of 6.9% for the FY 2011. The company entered into the industry in the year 2000 as a software company..the three business partners who were friends started this venture together to script the success story of Micromax.

But, a case like this could really harm the goodwill of the company in the market.

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