Saturday, September 19, 2020
Home Business How govt will revive Scooters India which gave India it's favourite Vikram...

How govt will revive Scooters India which gave India it’s favourite Vikram auto rickshaw


By Newsgram Staff Writer

The government of India is planning to revive Scooters India Limited which manufactures country’s famous three-wheeler auto rickshaw which in many parts of the country is also known as Vikram.

Minister of State, Heavy Industries and Public Enterprises, Shri G.M. Siddeshwara in a written reply to Lok Sabha announced about the revival of Scooters India Limited. Following the order of BIFR in Miscellaneous Petition filed by the Company, sanctions have been issued for release of Rs. 20 crores as interest-free plan loan for working capital and for Rs. 31.90 crores (out of Rs. 70.38 crores as approved by Government for infusion as equity for capital expenditure). Sanctions have also been issued for conversion of plan/non plan loan in to equity and waiver of interest.

A plan involving fund/non-fund based support to Scooters India Limited was approved in 2013 by the Government for revival of the company.

Fund/non-fund based support includes provision of Rs. 20 crores as interest free plan loan for working capital, infusion of Rs. 70.38 crores as equity for capital expenditure, conversion of plan/non plan loan of Rs. 85.21 crores into equity and waiver of interest of Rs. 26.37 crores.

History of Scooters India

In 1975, company started its commercial production of Scooters under the brand name of Vijai Super for domestic market and Lambretta for overseas market. It added one more wheel to its product range and introduced three wheelers under the brand name of VIKRAM/LAMBRO. However, in 1997, strategically, the company discontinued its two-wheeler production and concentrated only on manufacturing and marketing of 3 wheelers. These three wheelers have become more relevant in the present socio-economic environment as it transports goods and passengers at least cost.



Most Popular

Homemade Masks Effective At Blocking Droplets By Speaking, Coughing And Sneezing

Masks made with common household fabrics help prevent the spread of viruses like Covid-19 as researchers have found that they are considerably effective at...

Get Flu Shot to Avoid Having Covid and Flu Simultaneously

Health officials are warning the public to get a flu shot this year to avoid having to deal with COVID-19 and the flu simultaneously. Both...

India Couture Week Was Digital, Virtual And Democratic

It wasn't the familiar setting of the ballroom at the Taj Palace Hotel in the Capital, neither was it the familiar parade of 'shaadi'...

India’s Top Film Industry is Telugu Film Industry: Kangana Ranaut

Actress Kangana Ranaut says she wants film industries of different states to have a collective identity, and claims she wants to save the industry...

Planning a Road trip From Delhi? Here are 5 Must-Visit Destinations

By Siddhi Jain As several countries announced nationwide lockdowns in an effort to flatten the curve and break the chain, the coronavirus jolted the entire...

Top 10 Must Visit Places In Himachal Pradesh, India

Himachal Pradesh, in India, is a picture-perfect state that impresses tourists with scenic hill stations, quaint villages, snow-covered mountains, lush valleys, diverse flora and fauna,...

Here Is the Kind of Internet Connection That You Need for Your Browsing

For household and commercial use, everyone is looking out for the best internet connection. The internet has immensely evolved with time, and a need...

Here’s How Dinosaurs Caused Mammals to Develop Night Vision

By JoEllen McBride When dinosaurs ruled the earth, life was tough for our mammalian ancestors. So they learned to hunker down during the day and...

Recent Comments

Donate to NewsGram to support quality journalism.