Heavy Industries Minister Praful Patel has informed that Scooters India may receive the status of a complete private organization. He has indicated that the government is planning to sell its entire stake in this firm. This may helpful to the government’s policy of outright sale of closed PSUs.

As per Mr. Patel, there are several other companies like Scooters India which may be considered for this purpose. The government needs to look after these firms to renovate and reorganize them. This can be done by adapting strategies like disinvestment or some outright sale etc. Patel has informed this on the sidelines of an event organized at AIMA.

He has also added that Scooters India Ltd (SIL) needs to get some fresh capital infusion to sustain in the market.

The financial position of SIL is not so sound and it cannot survive for long without the support of the organization. Earlier government was planning to have a joint venture with private sector for the revival of SIL.

The company has booked a loss of Rs 22.03 crore in the financial year of 2009-10.