This Industrialist Paid Rs 8.5 Lakh for a Number Plate

Industrialist LD Mittal who is the chairman of Sonalika Group has paid Rs 8.5 lakh for a fancy number plate in a public auction.  The 0001 number of the newly launched CH-01-AZ series was auctioned at the Registering and Licensing Authority (RLA) office in Chandigarh.

It was the highest amount bid for the top number since CH-01-AT 0001 fetched Rs 9.1 lakh in May 2013, officials at the RLA office said.

The special number plate is for a new Mercedes S series car owned by Sonalika Group's flagship company International Tractors Ltd.

Mr Mittal broke into the Forbes billionaire list for the first time earlier this year. Forbes had pegged his net worth at $1.1 billion in March.

Mr Mittal, who worked over 40 years in the public sector, had been placed at 1,465 rank among the list of richest people on the planet.

Incorporated in 1969, the Sonalika Group is among the top three tractor manufacturers in India. The group also manufactures multi-utility vehicles, farm machinery attachments, diesel gensets, and auto components.

Sonalika products are sold in more than 60 countries. Japan's Yanmar and private equity firm Blackstone are among the investors in its flagship company International Tractors.

(With PTI inputs)