New Delhi: Maruti Suzuki India on Saturday said its shareholders have approved the proposal to issue shares on a preferential basis to Suzuki Motor Corporation (SMC) as consideration for a related party transaction for the acquisition of 100 per cent stake in Suzuki Motor Gujarat.
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. (PTI)
