- 47 -
In my capacity as chairman of Diesel Power Company and as
owner and General Manager of Caspian Trading Company, I
hereby authorize Detroit Diesel Allison to forward all
statements of account and commission statements for both
Diesel Power Company and Caspian Trading Company to Caspian
Trading Company * * * .
This letter will also serve as authorization for Caspian
Trading Company to collect all commissions payable on a
monthly basis on both Diesel Power Company's and Caspian
Trading Company's commission accounts. * * *
Shortly thereafter, GM terminated the 1969 GM-Caspian agreement
with CTC. Petitioner agreed by signing the letter of termination
on April 9, 1976. On November 1, 1976, Diesel Power and GM
entered into another agreement for the distribution, sales, and
servicing of GM engines and transmissions. This agreement was
signed for Diesel Power by an unknown person other than
petitioner, possibly Mr. Khalatbari, who was identified as
"Managing Director".
In addition to sales to Iran, petitioner also received
payments from GM for certain sales to Pakistan. In
February 1974, GM appointed CTC as sales representative to
promote the sale of GM diesel locomotives in Pakistan. This
agreement, by its terms, was to terminate on February 19, 1975,
unless extended by mutual agreement. It was signed on
March 14, 1974, by an unidentifiable person as attorney-in-fact
for petitioner. The agreement contained the same non-
assignability clause as is found in the 1969 GM-Caspian
agreement. GM further communicated with petitioner in a February
Page: Previous 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 NextLast modified: May 25, 2011