TMCnet News
CLASSIC STRIPES FACES WAR WITHIN, MANAGING DIRECTOR QUITS(Indian Business Insight Via Acquire Media NewsEdge) Classic Strips Managing Director, Kishore Musale, has quit due to excessive interference and mismanagement by private equity investor Navis Capital. Kishore Musale had founded Classic Strips in 1987. The company manufactures auto components for companies like Hero MotoCorp, Bajaj Auto Ltd, Tata Motors Ltd and Yamaha India Ltd. Navis Capital, an Asia focused fund, had invested $100 million in Classic Strips in 2011 for acquiring 51 percent stake from Kishore Musale and family. |