Maruti Suzuki up on plan to seek minority shareholder nod for Gujarat plant

Mar 18 2014, 10:19 IST
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'Even though not required by law, the board decided, as a measure of good corporate governance...' (AP) 'Even though not required by law, the board decided, as a measure of good corporate governance...' (AP)
Summary'Even though not required by law, the board decided, as a measure of good corporate governance...'

Shares of Maruti Suzuki India surged 9.3 percent in pre-open trading on plans to seek minority shareholder approval to set up a plant in Gujarat as a unit of Suzuki Motor Corp, after the proposed move drew opposition from the company's leading institutional investors.

"Even though not required by law, the board decided, as a measure of good corporate governance, to seek minority shareholders' approval," the company said in a statement after a board meeting on Saturday.

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