Suzuki Motor Co president Osamu Suzuki yesterday accused the Indian government of a breach of contract and urged the latter to negotiate an end to a dispute over their 50:50 carmaking joint car venture Maruti Udyog Limited.
However, regardless of the outcome of our legal dispute, we will continue our cooperation with the Indian joint venture to pursue growth in the Indian car market, in which competition is growing, Suzuki told a news conference here.
He refused to predict the outcome of a petition filed by Suzuki in the Paris court of arbitration, challenging the Indian governments appointment of RSSLN Bhaskarudu as the new managing director of Maruti.
He, however, said the mutual trust among the Maruti board members had vanished and Maruti had lost its neutral position between its two equal owners. The result was a stalemate that made it difficult to take major decisions.
He said time was running out to pump funds into Maruti. If the court (ICC) adopts a fast-track app-roach, it (the case) will be over in just two or three months. Then we can just barely make our plant investment schedule time.
