SIAM files review petition with Supreme Court over BS-III vehicles ban

28 Apr 2017 Evaluate

The auto makers association, Society of Indian Automobile Manufacturers (SIAM) has filed a petition in the Supreme Court pleading for a review of the judgement issued in the case of BS III Vehicles. SIAM said that the review petition has pointed out certain facts that were not covered in the Judgment, which go to the root of the matter and had influenced the Court to pass such an Order.

According to the industry association, the Supreme Court has erroneously construed an office memorandum from the Ministry of Road Transport and Highways dated March 3, 2017 to be an office memorandum dated March 3, 2015, i.e. two years earlier in holding that the government had sent a clear message to the manufacturers to stop production of BS-III vehicles before April 1, 2017. SIAM has said that according to the government assurance given three weeks before the judgment, the unsold stocks of BS-III vehicles manufactured before April 1 would be permitted to be sold and registered even after the deadline as was done when BS-II and BS-III norms were implemented. It also said that two-wheeler manufacturers and commercial vehicle makers were hit the hardest by the ruling.

In the review petition, SIAM highlighted that the staggered phase-in of BS IV emission norms for vehicles was not done to help the auto industry as mentioned in the judgment. It also pointed out that this staggering was done to ensure that adequate capacities for the BS IV fuel supply get established to expand the coverage of fuel availability to other parts of the country as per the roadmap agreed with the oil industry.

SIAM elaborated that the Supreme Court has further based its judgment on an assumption that there will be 80 per cent reduction in emissions of PM (particulate matter) between BS III and BS IV standards. Though, it noted that it may be true for only heavy vehicles, but such reduction is much less in other categories of vehicles. In its petition, SIAM also stated that the auto industry has invested Rs 25,000 crore to upgrade vehicle technologies to BS IV level and was therefore an equal contributor in ensuring the improvement in the environment.

Create stable, long-term investment portfolio with strong, consistent stocks.

Start Research-backed Investing ...Now. Subscribe to Sapphire

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.