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Motherson Sumi Systems gets shareholders nod for proposed restructuring

Auto components major Motherson Sumi Systems Ltd (MSSL) on Friday said its public shareholders have voted in favour of its proposed group restructuring under which it will demerge its domestic wiring harness (DWH) business into a new company that will eventually be listed. As part of the restructuring which was announced in July last year, after the demerger of DWH, group firm Samvardhana Motherson International Ltd (SAMIL) is to be merged into MSSL to consolidate 100 per cent shareholding in Samvardhana Motherson Automotive Systems Group BV (SMRP BV) as well as to bring all auto component and allied businesses in SAMIL under MSSL.

Demand in India s car market to stay strong in FY22, says Motherson Group

Demand in India s car market to stay strong in FY22, says Motherson Group SECTIONS Share Synopsis While commercial vehicle sales are beginning to come out of a trough, car sales are strong because of increasing consumer preference for personal mobility due to the pandemic, V C Sehgal, chairman of the Motherson Group, told ET. Vivek Chaand Sehgal, Chairman Demand in India’s car market is expected to remain strong in FY22 despite the recent surge in Covid cases and episodic lockdowns, the head of the country’s biggest auto-parts maker said Tuesday. While commercial vehicle sales are beginning to come out of a trough, car sales are strong because of increasing consumer preference for personal mobility due to the pandemic, V C Sehgal, chairman of the Motherson Group, told ET.

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