While the news reports of TVS Motor Co Ltd, India's third largest two-wheeler maker buying the assets of the troubles LML in the Indian market showed a positive investor response as far as the LML’s share price is concerned, but the Chennai based two-wheeler major has declined any such reports.

It is to be mentioned here LML shares went up by 20 percent earlier in the day as soon as the reports of TVS was looking to buy its assets hit the bourses, but the company didn’t took much time decline any such development.

Moreover, LML also declined any such development in a separate statement.

Notably, LML is currently operating under the BIFR scanner and is striving hard to make a comeback in the Indian market. Analysts are of view that if the Chennai based two-wheeler major would have to buy the assets of LML, it will strengthen its position in the high-growth scooters segment in the Indian market.

The deal was earlier considered to be a big boon for the troubles scooter manufacturer in the Indian market by many industry experts.