The modalities of the
revival programme planned by the Government for
revamping of Scooters India Ltd. (SIL) have been finalized. Giving this information in written
reply to a question in Lok Sabha,
Shri Praful Patel, Minister of Heavy Industries & Public Enterprises, said
that Government has approved the following revival
proposal for the SIL:
i)
To infuse fund to the tune of
Rs. 70.38 crore as equity for capital expenditure;
ii)
To provide Rs. 20 crore as interest free plan loan for working capital;
iii)
To convert Plan Loan of Rs.
1.93 crore, outstanding as on 31.03.2012, into
equity;
iv)
To convert non-plan loan of Rs.
83.28 crore, outstanding as on 31.03.2012, into
equity;
v)
To waive interest accrued and
due of Rs. 22.17 crore as on 31.03.2012;
vi)
To waive interest accrued
and not due of Rs. 4.20 crore as on 31.03.2012;
vii)
Enhancement of superannuation
age from 58 years to 60 years;
viii)
Implementation
of 2007 pay revision as per DPE guidelines.
