Sona Koyo Steering renamed JTEKT India
The change in the name of the company from Sona Koya Steering System to JTEKT India will be effective after the same is approved by the shareholders of the company.
Gurugram: Sona Koyo Steering Systems Limited has been renamed as JTEKT India Limited effective 7 April, 2018. The Board was proposed name to the Ministry of Corporate Affairs and got approval on Feb 2018. The Registrar of Companies, Delhi and Haryana has given their approval to the change in the name.
In April 2017, the company sold its 25.1 % share on Sona Koyo Steering Systems to JTEKT Corporation2 for about 67.67 million USD to move is a part of the Sona Group's strategy to focus on its forgings business enhancing its domestic and global markets. (covered in May 2017 edition)
The change in the name of the company from Sona Koya Steering System to JTEKT India will be effective after the same is approved by the shareholders of the company.
And then the company will issue a fresh certificate of incorporation stating the proposed new name by the Office of Registrar of Companies, Ministry of Companies Affairs.
1Sona Koyo Steering Systems is a manufacturer of steering systems in India, catering to passenger cars, utility vehicles and light commercial vehicles. Sona Koyo's customers include major vehicle manufactures in India such as Maruti Suzuki, Toyota, Hyundai, Tata Motors, Mahindra & Mahindra, General Motors and Ford. Independently, as well as through its network of overseas joint-venture partners, it exports high quality precision products to USA, Europe and Japan.
2JTEKT Corporation, Japan (formally known as Koyo Seiko Co. Ltd.), the largest producer of automotive steering systems in the world.
