Another TATA Misadventure in the sky

While Bogus "Indian Media" goes Ga-Ga about "TATA-Airbus" deal, very few knows it is a deal between Debt Ridden TATA Advanced Systems Limited and financially unsustainable CASA of Spain. This deal has taken place only because Union Government decided to purchase not so popular and costly C-295 planes, not one but 62 of them.

 16 of them were to be procured from Spain right away, 46 to be assembled somewhere in India within a period of 10 years. All these were reported by Indian Media and even Indian Correspondent of Jane's Weekly reported that way back in 2019 ( See the link ) ; Back then they promised to set up the plant near Bangalore in Karnataka. Now TATA's this outfit is based out of Telangana, set up in 2006 in a village south of Hyderabad (it was part of Andhra Pradesh then) and got huge Freebie in terms of land procurement. 

Opposition party from Maharashtra, now claims they were promised is Aircraft Assembly Plant, but obviously Airbus Aka CASA needed some place closer to a sea-port to reduce cost and Elections coming to Gujarat, therefore the plant is being set up near Vadodara. One would have thought TATA would reuse the closed Nano plant, but that belongs to TATA Motors, not TASL. Land will be given for free to TATA and Government of India run (although they are listed companies and public bought shares) Banks will fund the misadventure and more, so what the hell.

Back in 2016, TASL was restructuring Rs 70,00,00,000 in debt in addition to similar Restructuring of Debt , every year before and possibly every year since.

And yes, No TATA was ever in the board of Directors of TASL, That's just the brand name, TATA Sons use just to attract easy credit and gullible retail investors during IPO.

One might remember, TATA Group also has a JV with Lockheed Martin, which was set up also in Andhra Pradesh, had to restructure debts amounting to  375000000 Rs, in 2017.

Back then , TATA group claimed that they will make Hyderabad its Aeronautics hub. But now, it seems the their hub revolves round "Modi's Election Plans", so not Hyderabad but Vadodara gets the Assembly plant. And the funny part is both Joint Venture firms, TATA-Lockheed Martin and TASL are registered to same address:

Hardware Park, 

Plot No 21,Sy No 1/1,

Imarat Kancha Raviryala Village,

 Maheshwaram Mandal Hyderabad Hyderabad TG 501218 IN, Telangana

 Both showing same immovable assets as collateral to same banks and same bank management agreeing to both.

Is this a scam? I don't know, this seems a misadventure at best and just like TATA Lockheed Martin can't get any sale outside Indian Defence Forces, this venture too shall be constrained by same.

One thing is for sure, the employees will have no job security or retirement benefits and the plant will close down at most in 7 to 10 years from now, just like the TATA Nano plant. 

Just that, gullible public will vote in droves for BJP and BJP  government will forego TATA's debt. What a Ponzi, Sir-ji!!