Fresh claim for Manesar issue faced by Maruti Suzuki

Discussion in 'Indian Automotive Scene' started by Car Lover, Jan 29, 2013.

  1. Car Lover

    Car Lover New Member

    Oct 5, 2012
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    [​IMG]Maruti Suzuki, the leader in the auto industry has announced receiving demand in excess, to the tune of Rs 137.58 crore for the previous quarter. This came as part of heightened amount in regard of land given by the government of Haryana for the plant at Manesar.

    Presently, the carmaker is engaged in a lawsuit involving the government and the Infrastructure Development Corporation Ltd. The company is seeking compensation of about Rs 501.24 crore. The SME sector could see a number of opportunities if the production increases at the Maruti plants in the country.

    The company said in a statement, “The demand of Rs 13,758 lakh for remaining part of land at Manesar was received subsequent to the quarter-end and the company is in the process of evaluating its legal options.” It also added, “The company's impleadment application in the pending appeal by HSIIDC, relating to the demand raised for additional compensation by landowners for land acquired from them at Manesar, has been heard and the order has been reserved by the Supreme Court against the demand of Rs 50,124 lakh.”

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