SC relaxes March 31 deadline for automakers to clear BSIV vehicle inventory
The Supreme Court on Friday relaxed the 31 March deadline for winding up sales and registrations of BS IV emission norm-compliant vehicles amid the 21-day countrywide lockdown to contain the spread of COVID-19.
An apex court bench comprising Justice Arun Mishra and Justice Deepak Gupta allowed the sale of 10% of the unsold stock of BS IV vehicles within 10 days of the end of the lockdown, except in Delhi and the National Capital Region.
The bench also held that BS IV vehicles bought have to be registered within 10 days of sale but those bought before 31 March can be registered later.
The top court passed the order while hearing the plea filed by the Federation of Automobile Dealers Associations (Fada) which had sought a two-month extension of the 31 March-deadline for sale and registration of such vehicles.
Fada had filed an interlocutory application with the apex court last week seeking relief as Covid-19 pandemic has hit auto dealers hard, already battling a prolonged liquidity crisis.
The unsold inventory is worth over ₹7,000 crore, Fada has said.
The top court had earlier mandated that only BS-VI emission norms-compliant vehicles will be allowed for sale and registration, beginning 1 April.
FADA had filed a similar application in February that was rejected by the top court.