NDTV Profit

Cabinet clears Rs 200 crore revival package for Scooters India: sources

The government today approved a Rs 200-crore revival package for sick public sector unit Scooters India, sources told NDTV Profit.
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New Delhi:

The government today approved a Rs 200-crore revival package for sick public sector unit Scooters India (SIL), sources told NDTV Profit.

After the government shelved a plan to sell its entire stake in SIL, the Department of Heavy Industry had proposed a revival package of more than Rs 200 crore for the company, PTI reported earlier, citing sources.

The department had consulted the Board for Reconstruction of Public Sector Enterprises (BRPSE) which examined the case and later suggested a revival package.

While cash assistance implies equity infusion, grants and loans, non-cash assistance includes waiving interest, government loan and conversion of loan into equity.

With inputs from PTI

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