Voting on Maruti Gujarat plant in October

Maruti Suzuki India Limited (MSIL) expects its minority shareholders to give their approval to the company's Japanese parent Suzuki Motor Corporation to take over its proposed plant in Gujarat. "We haven't fixed a date yet. It could be in October probably," MSIL chairman R.C. Bhargava told journalists on the sidelines of a lecture in memory of the company's executive Awanish Dev, who was killed in worker violence at Manesar plant in 2012.

"As far as the Gujarat facility is concerned, it is recognised that the structure we have envisaged is beneficial to Maruti shareholders. The major issue which institutional investors raised pertains to why higher dividends are paid, why is royalty audited? On structure, there are no real issues now." MSIL managing director and chief executive Kenichi Ayukawa said, "Because of the way we communicated our sincerity to the investors, we did not get any negative response."

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