Oct 16, 2012, 11.26 AM IST | Source: PTI

Maruti Manesar plant violence due to internal issues: SIT

The violence at Maruti Suzuki India's Manesar plant in July was not instigated from outside, but was due to internal issues between management and workers, according to the chargesheet filed by the Special Investigation Team (SIT) formed to probe the incident.

The violence at Maruti Suzuki India's Manesar plant in July was not instigated from outside, but was due to internal issues between management and workers, according to the chargesheet filed by the Special Investigation Team (SIT) formed to probe the incident.

Charges against 145 persons have been framed after interviewing 300 witnesses by the Haryana Police. "The chargesheet was filed last week. It was found that the violence was not instigated from outside but was due to the union trying to show solidarity with workers," deputy commissioner of police Maheshwar Dayal told PTI.

"It was more of an internal issue between the management and the workers," he said, adding that involvement of Naxal elements into the violence was also ruled out. When contacted, Maruti Suzuki India spokesperson declined to comment.

Dayal further said: "Chargesheets have been filed against 145 persons and a total of 300 witnesses were interviewed to file the report, which runs into 3,000 pages." The main charges levelled include murder, attempt to murder and destruction of property. The finding of the SIT is contrary to what the company had stated at the time of declaring lockout at the plant that the "orchestrated" violence appeared to be instigated from outside as "there were no pending issues with the workers".

MSI chairman R C Bhargava had said the violence was a handiwork of "extreme Left wing elements" and "it was a conspiracy which was kept within a small group of people" and even described the incident as a "class attack".

The Haryana government had formed an SIT under Assistant Commissioner of Police Ravinder Tomar with six inspectors to probe the incident.

A total of over 140 workers, including leaders of Maruti Suzuki Workers Union, were arrested by the police. On July 18, violence broke out at the plant following an alleged scuffle between a worker and a supervisor. MSI general manager(HR) Awanish Kumar Dev was killed in the incident and 100 others were injured.

The company declared a lockout at the plant on July 21and was lifted on August 21. During the lockout the overall production loss was pegged at around Rs 1,400 crore. Following the incident, MSI had also decided to terminate services of 500 permanent workers, who were allegedly found to
be involved in violence inside the plant.

Maruti Suzuki stock price

On April 23, 2014, Maruti Suzuki India closed at Rs 1982.75, up Rs 8.50, or 0.43 percent. The 52-week high of the share was Rs 2007.60 and the 52-week low was Rs 1217.00.


The company's trailing 12-month (TTM) EPS was at Rs 106.68 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 18.59. The latest book value of the company is Rs 615.03 per share. At current value, the price-to-book value of the company is 3.22.

Set email alert for

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Rahul Gandhi

570.54 7.41 1.32%

340799

Bought today

361318

Sold today

0.81%

User holding

video of the day

Add cyclicals, banks on positive poll outcome: UBS

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.