The Indian auto biggie wanted to launch its trucks in the USA. But now it is embroiled in a legal spat in the country
On January 1, 1959, the government of Fulgencio Batista fell and Fidel Castro seized power in Cuba. Rumours started doing the rounds that all children would be taken against their parents’ wishes and sent to military schools or to Soviet labour camps. America’s Central Intelligence Agency launched Operation Pedro Pan. From December 1960 to October 1962, more than 14,000 Cuban children arrived alone in the United States and were relocated in 30 states.
Perez says he spent the money because M&M led him to believe that it was ready with the product and so he had got the network ready for it. He also says that M&M took away trade secrets. He alleges that they also tried to buy him out. He wants M&M to compensate for this.
(This story appears in the 06 July, 2012 issue of Forbes India. To visit our Archives, click here.)