(a) the current status of Scooters India Ltd. (SIL);
(b) whether the Government is going to sell out SIL;
(c) if so, the details thereof;
(d) whether any sick company has been recommended by Board of Reconstruction of Public
Sector Enterprises for revival package during the current year;
(e) if so, the details thereof;
(f) whether the Government proposes to grant any package to these companies in the current
year; and
(g) if so, the details thereof?
MINISTER OF HEAVY INDUSTRIES AND PUBLIC ENTERPRISES (SHRI PRAFUL PATEL)
(a): Scooters India Ltd. is a Board for Industrial and Financial Reconstruction (BIFR)
referred sick company. A revival proposal involving infusion of funds, enhancement of age
of superannuation from 58 to 60 years in relaxation of DPE guidelines and implementation
of 2007 pay revision in accordance with DPE guidelines among others was approved by the
Cabinet in its meeting held on 31.01.2013. The Detailed Rehabilitation Scheme is before
BIFR; BIFR has directed Department of Heavy Industry (DHI) to go ahead with the infusion
of funds for meeting the requirement of working capital and capital expenditure. Funds
have already been released for capital expenditure to the tune of Rs. 31.90 crores and
for interest free plan loan of Rs. 20 crores for working capital.
(b): No, Madam.
(c): Does not arise.
(d): Yes, Madam.
(e): In respect of HMT Machine Tools Limited, BRPSE in its meeting held on 30.05.2013 has,
inter alia, recommended financial assistance in the form of loan for working capital purpose
and implementation of 1997 pay revision.
In respect of HMT Bearings Limited, BRPSE in its meeting held on 30.05.2013 has inter alia
recommended infusion of funds in the form of equity, waiver of GOI Loans interest and
conversion and implementation of 1997 wage/pay scales.
(f) & (g): Recommendations of BRPSE are under process.