The commuter two wheeler scenario has seen drastic changes though on a long term basis only. It was only bikes earlier, but come the mid 1950 s scooters from Automobile Products of India Ltd (API) viz
Time to sell the small stuff
February 04, 2021
On its last legs: Scooters India’s product line-up has dwindled to only 3-wheelers - THE HINDU ARCHIVES
On its last legs: Scooters India’s product line-up has dwindled to only 3-wheelers - THE HINDU ARCHIVES×
Scores of low-profile public sector companies on the block are the products of a different era
The headline ‘Scooters India to be sold’ has always brought back memories. As a young reporter back in 1985, I d spotted the headline for the first time and dashed off to Udyog Bhavan for details. I found myself face-to-face with a surly joint secretary who replied in monosyllables. That was an era when it was anathema to sell public-sector companies and it didn’t take me long to realise the sale of Scooters India wasn’t going to happen.
Govt approves closure of Scooters India
Updated:
Updated:
The firm has around 100 employees.
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The firm has around 100 employees.
The government has approved closure of loss-making state-owned firm Scooters India Limited and shutting down the operations of its units, the company said on Thursday. PTI had reported a week ago that the Cabinet Committee on Economic Affairs (CCEA) is believed to have given its consent to the closure of the Lucknow-based company. In a BSE filing, Scooters India said the Ministry of Heavy Industry and Public Enterprises has communicated that the competent authority has approved the closure. It has also cleared seeking a loan (with interest) of ₹ 65.12 crore required for the closure from the Government of India.
The government has approved closure of loss-making state-owned firm Scooters India Limited and shutting down the operations of its units, the company said on Thursday. PTI had reported a week ago that the Cabinet Committee on Economic Affairs (CCEA) is believed to have given its consent to the closure of the Lucknow-based company. In a BSE filing, Scooters India said the Ministry of Heavy Industry and Public Enterprises has communicated that the competent authority has approved the closure. It has also cleared seeking a loan (with interest) of Rs 65.12 crore required for the closure from the Government of India. Besides, it has approved separating the regular employees rendered surplus due to the closure through voluntary retirement scheme / voluntary separation scheme (VRS/VSS).