While KTM needs to secure €600 million (i.e. approximately ₹5,732 crore) by the end of May, its board members are now suing each other for not being upfront. The dispute centres around Stefan Pierer and Stephan Zöchling, both of whom are board members of Pierer AG and KTM AG alike.
The German publication, Der Standard, reports that Zöchling, who also happens to be the president of Dabepo Holding AG (a component manufacturer) had provided an €80 million (i.e. approximately around ₹764 crore) loan to Pierer Gruppegesellschaft mbH (Piko). The latter sits at the top of the Pierer corporate structure and is owned by Stefan Pierer.
But, Zöchling is now…
