INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Maruti Suzuki India on Saturday said its shareholders have approved the proposal to issue shares on a preferential basis to
Japanese parent Suzuki Motor Corporation (SMC) as consideration for a related-party transaction for the acquisition of 100 percent stake in
The company had sought approval from its shareholders through a postal ballot on two special resolutions for the purpose of fully acquiring
Suzuki Motor Gujarat (SMG) last month.Resolutions as set out in the postal ballot pertaining to approval of related party transaction, and
create, offer, issue and allot equity shares on a preferential basis for consideration other than cash have been approved by the members of
the company with requisite majority, Maruti Suzuki India said in a regulatory filing.The first special resolution of related party
transaction was approved with 98.21% in favour and 1.79% against.The second special resolution to create, offer, and allot equity shares on
a preferential basis other than cash consideration to SMC received 98.91% votes in favour and 1.09% against, it added.Last month, the
It was envisaged to be discharged by way of issue and allotment of over 1.23 crore equity shares of the company having a face value of Rs 5
preferential basis to SMC as consideration for the acquisition of a 100% stake in Suzuki Motor Gujarat
