The Government has approved the plan to recapitalize and restructure the sick Central Public Sector Enterprise - Scooters India (SIL), Lucknow. As a part of revival proposal the Government has approved the fund and non-fund based support of Rs 90.38 crore and Rs 111.58 crore respectively to SIL.
Besides, the Government has also approved enhancement of superannuation age from 58 years to 60 years on January 31, 2013.
Earlier 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.
