The government is likely to consider over Rs 200-crore revival package for sick Central Public Sector Enterprise - Scooters India (SIL) through cash and non-cash assistance on January 31, 2013. While cash assistance implies equity infusion, grants and loans, non-cash assistance could include waiving interest, government loan and conversion of loan into equity.
After the government abandoned plan to sell out its entire stake in SIL, the Department of Heavy Industry suggested revival plan for the company. The department consulted the Board for Reconstruction of Public Sector Enterprises (BRPSE) which examined the case and later suggested a revival package for the sick unit.
The automobile company, which has about 1,200 regular employees, has been incurring losses since 2002-03 and was declared sick in March 2009.
