Hyundai Motor India pays parent royalty of Rs 185 cr in 2003-04.

(From Business Line)

Chennai, Oct. 11 - HYUNDAI Motor India Ltd paid its parent, Hyundai Motor Company of Korea, a royalty of Rs 184.74 crore in 2003-04 compared to a royalty of Rs 110.89 crore in the previous financial year.

Besides this, Hyundai Motor India paid a final dividend of Rs 121.88 crore last year (15 per cent), the same amount paid out in the previous year when it was declared as an interim dividend, according to the company's annual report for 2003-04 filed with the Registrar of Companies.

According to Hyundai Motor India sources, the royalty payment to the parent company is for using the Hyundai brand name, both in the domestic and …