TVS Motor Company Ltd has decided to terminate its amended licence agreement with Suzuki Motor Corporation. It has served the mandatory 120 days notice to Suzuki and the agreement is expected to lapse by the end of April 2002.
The termination of the licence deal is significant because this will give it the right to carry out modifications on the products that it manufactures under licence from Suzuki and thus save considerable time.
TVS Motor Company executive director, H Lakshmanan, told Business Standard that at present, the company has to take prior permission from Suzuki for carrying out any modification on Suzuki licensed products like the Fiero or the Max 100.
