Key Developments: Maruti Suzuki India Ltd (MRTI.BO)

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Latest Key Developments (Source: Significant Developments)

Sacked Maruti Suzuki India Ltd's Workers Call For Solidarity Action On July 18-Business Line
Sunday, 30 Jun 2013 08:00pm EDT 

Business Line reported that the Sacked Maruti Suzuki India Ltd's plant workers, 147 of whom are in Gurgaon jail, have decided to mark July 18 as Chalo Manesar day and have called upon workers and organisations to observe solidarity actions across the country. On July 18, 2012, violence had broken out at Maruti‚Äôs Manesar plant, leading to the death of an official, Awanish Kumar Dev, in the plant premises. After the incident, all 2,300 Maruti workers, permanent as well as on contract, were sacked. The plant is now running with an entirely new staff. At a general body meeting held in Manesar on June 23, the Maruti Suzuki Workers Union had decided to campaign in July, starting with an indefinite sit-in demonstration and hunger strike in Manesar. The workers also alleged that labour laws were being openly flouted in the Manesar industrial belt, especially with regard to contract workers.  Full Article

RPG Life Sciences Ltd Sells Part Of Land At Navi Mumbai Land For INR76.91 Crores (INR769.1 Million) To Maruti Suzuki India Ltd
Thursday, 6 Jun 2013 07:43am EDT 

RPG Life Sciences Ltd announced that it has sold leasehold rights on its surplus land admeasuring 14,148.90 square meters, situated at TTC Industrial Area, Village Pawane, Navi Mumbai to Maruti Suzuki India Ltd for consideration of INR76.91 Crores (INR769.1 Million). The proceeds from the transaction will be utilized for reducing the debt of the Company and investing in the projects to drive future growth of the Company.  Full Article

LIC India Sells 2.53% Stake In Maruti Suzuki India Ltd-Business Standard
Tuesday, 21 May 2013 02:02pm EDT 

Business Standard reported that according to Maruti Suzuki India Ltd. Life Insurance Corporation of India (LIC) has sold 2.53% stake in the Company over a period of almost six months. Post-sale, LIC's stake in Maruti Suzuki India (MSI) has come down to 8.247% currently from 10.777% earlier, Maruti Suzuki India Ltd said in a filing to the BSE. LIC sold 622,359,8 equity shares, representing 2.53%, of MSI between November 21, 2012 and May 17 this year.  Full Article

Maruti Suzuki India Ltd Recommends Final Dividend
Friday, 26 Apr 2013 03:49am EDT 

Maruti Suzuki India Ltd announced that the Board of Directors at its meeting held on April 26, 2013 has recommended a final dividend aggregating INR2.4167 million that is INR8 per share (Nominal value INR5 per share) (Previous Year INR2.1668 million that is INR7.5 per share) for the financial year 2012-2013.  Full Article

Maruti Suzuki India Ltd Approves Amalgamation Of Wholly Owned Subsidiaries
Friday, 26 Apr 2013 03:48am EDT 

Maruti Suzuki India Ltd announced that the Board of Directors at its meeting held on April 26, 2013 has approved the amalgamation of the following seven wholly owned subsidiaries of Maruti Suzuki India Ltd with and into the Company; Maruti Insurance Business Agency Limited; Maruti Insurance Agency Services Limited; Maruti Insurance Distribution Services Limited; Maruti Insurance Agency Logistics Limited; Maruti Insurance Agency Solutions Limited; Maruti Insurance Agency Network Limited; Maruti Insurance Broker Limited.  Full Article

Maruti Suzuki India Ltd's Board To Discuss Merging Of Seven Subsidiaries With Itself-The Economic Times
Wednesday, 24 Apr 2013 08:31am EDT 

The Economic Times reported that Maruti Suzuki India Ltd will consider amalgamation of the Company's seven wholly owned subsidiaries with itself at the upcoming Board meeting. In a filing to the BSE, the Company said the Board, in meeting scheduled to be held on April 26, 2013, shall consider the proposal of amalgamation. The seven wholly owned subsidiaries, which are engaged in different businesses are Maruti Insurance Business Agency, Maruti Insurance Agency Services, Maruti Insurance Distribution Services, Maruti Insurance Agency Logistics, Maruti Insurance Agency Solutions, Maruti Insurance Agency Network and Maruti Insurance Broker.  Full Article

Maruti Suzuki India Ltd Appoints Chief Executive Officer
Friday, 15 Mar 2013 02:50am EDT 

Maruti Suzuki India Ltd announced that the Board of Directors at its meeting held on March 15, 2013, has appointed Mr. Kenichi Ayukawa as the Managing Director and Chief Executive Officer in place of Mr. Shinzo Nakanishi with effect from April 01, 2013, on the latter having attained the age of retirement.  Full Article

UPDATE 2-Indian carmaker Maruti promises clarity on cash plans

NEW DELHI, Jan 27 - Indian carmaker Maruti Suzuki has promised investors more clarity on its investment plans after March, a move that goes some way to appeasing shareholders that have fretted over the low returns it earns from a growing cash pile.

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