Key Developments: Maruti Suzuki India Ltd (MRTI.BO)
14 Mar 2014
Latest Key Developments (Source: Significant Developments)
Economic Times reported that Maruti Suzuki India Ltd's Manesar factory will remain closed on Thursday, following violent clashes between workers and management at the plant. One person was killed and 90 more injured after clashes on Wednesday at the 550,000 vehicles per year factory. Full Article
The Economic Times reported that The labour department affiliated to the Haryana state government has initiated proceedings against Maruti Suzuki India Ltd executives for allegedly violating the signed agreement with its workers' under provisions of labour laws for its Manesar plant. The Labour Department has filed a challan in the Gurgaon court under section 9 C of the Industrial Dispute Act 1947 for the alleged 'violation of settlement' that was reached on October 19 2011. Full Article
Maruti Suzuki India Ltd announced that it has approved a proposal to merge Suzuki Powertrain India Limited (SPIL) with MSIL. SPIL, which supplies diesel engines as well as transmissions for vehicles to MSIL, is a subsidiary of Suzuki Motor Corporation (SMC), Japan. SMC holds a 70% share in SPIL and the remaining 30% is held by MSIL. With the merger, MSIL will be able to bring its entire diesel engine capacity under a single management control. all key initiatives to strengthen the business, including sourcing, localization, production planning. manufacturing flexibility and reduction can be controlled, monitored and improved by the MSIL management. Full Article
Maruti Suzuki India Ltd announced that the Board of Directors of the Company at its meeting held on April 28, 2012, inter alia, has recommended a final dividend aggregating INR216.68 million i.e. INR7.5 per share (Nominal value INR5.00 per share) (Previous Year INR216.68 million i.e. INR7.5 per share) for the financial year 2011-12. The dividend payment date is September 04, 2012 subject to the approval of the shareholders in the ensuing annual general meeting. Full Article
MUMBAI - Maruti Suzuki India said on Saturday it will seek minority shareholder approval for a plan to outsource production at a new factory to its largest shareholder, Suzuki Motor , after its leading investors opposed the move.