Indian auto component suppliers to General Motors [ Images ] and Chrysler [ Images ] in the US say there has been no delay in their payments so far. Both US car companies have filed for bankruptcy restructuring.
Says one top executive: "When we met GM's executives last week in Detroit, they displayed amazing sensitivity to vendors like us. There's a lot of positive feeling in the way the company is going about re-building a new GM."
They say they are used to dealing with US bankruptcy filings. Payments for supplies that are made after bankruptcy filing are administered by a US court and thus are guaranteed.