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Suzuki wants to make Maruti No 1 Indian company

Japan's Suzuki Motor Corporation, which would acquire majority stake and management control in Maruti Udyog Ltd, on Thursday said it would provide full support to Maruti to make it India's "number one" company.

SMC chairman Osamu Suzuki, who met Divestment Minister Arun Shourie, told reporters, "Maruti will continue as Indian company and we want to make Maruti number one company in India. For this purpose we will continue to give full support from Japan."

The SMC chairman is scheduled to hand over a cheque for Rs 10 billion to the government later in the day, in lieu of the proposed rights issue by which the Japanese company would get majority stake and management control in MUL.

Suzuki said that he has asked Jagdish Khattar to continue as the managing director of the joint venture company after it is privatised on Thursday.

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