Maruti Suzuki India Ltd has approved the incorporation of a wholly owned, not-for-profit subsidiary named the Osamu Suzuki Centre of Excellence (OSCOE) Foundation, subject to approval of the name by the Registrar of Companies.
The proposed Section 8 company will focus on promoting vocational and technical skills to strengthen manufacturing excellence and encourage the adoption of best practices across India.
Focus on Japanese manufacturing practices
The foundation will promote Japanese manufacturing philosophies, practices and culture, along with the teachings of Osamu Suzuki, the late industry leader associated with Suzuki’s growth and expansion.
The initiative is intended to contribute to the development and competitiveness of India’s manufacturing sector by encouraging skills development and the adoption of manufacturing best practices.
To operate under CSR framework
The foundation’s activities will be undertaken as part of Maruti Suzuki’s corporate social responsibility initiatives, in accordance with Section 135 read with Schedule VII of the Companies Act, 2013.
As a Section 8 company, the entity will be established for not-for-profit objectives related to its stated purpose.
Initial capital set at ₹1 lakh
The proposed entity will have an initial capital of ₹1 lakh, divided into 10,000 equity shares with a face value of ₹10 each. Maruti Suzuki India will hold 100% of the shareholding.
The foundation is expected to support the company’s broader efforts to promote technical skills, manufacturing knowledge and industry best practices in India.