(Image source from: Indian industrialist pays Rs. 8.5 lakh just for a number plate})
Number plates come at a price, at least if you want an exclusive one. Indian industrialist LD Mittal didn’t mind paying Rs. 8.5 lakh just for a number plate.
Sonalika Group Chairman LD Mittal paid a whopping Rs. 8.5 lakh at a public auction for a fancy number plate. The number 0001 is for the newly launched CH-01-AZ series that was auctioned by Chandigarh’s Registering and Licensing Authority (RLA) office.
But wait, LD Mittal is not the only one who would bid an exorbitant amount just for a number plate. Last year one bidder paid Rs. 9.1 lakh for the series CH-01-AT 0001. Mittal is the highest bidder for a fancy number since May 2013, according to RLA officials.
The fancy number plate will be used for a new Mercedes S series car owned by International Tractors Ltd, which is the flagship company of Sonalika Group.
This year LD Mittal debuted into the Forbes billionaire list for the first time. His net worth was valued at $1.1 billion in March by the Forbes magazine.
Mr Mittal was ranked 1,465 in the list of richest people on Earth. The industrialist has worked for more than 40 years in the public sector.
Sonalika Group, established in 1969, is one of the top three tractor manufacturers in India. Besides tractors, the group is also into the manufacture of farm machinery attachments, multi-utility vehicles, diesel gensets and auto components.
The company’s products are sold in over 60 countries across the world. Sonalika Group’s flagship company International Tractors has investors like Japan-based Yanmar and private equity firm Blackstone.
(AW: Pratima Tigga)
