Scooters India's networth turns positive

Public sector entity Scooters India's networth has turned positive and the company may soon move out of the purview of Board for Industrial and Financial reconstruction.
"Bench of Board for Industrial & Financial Reconstruction, New Delhi during recent hearing held on September 15, 2015 has considered discharge of the Company from BIFR on submissions made by operating Agency (State Bank of India) to the effect that Networth of the Company as on March 31, 2014 has turned positive.
"The statement of proceedings of the said hearing is awaited and shall be submitted soon after receipt of the same," Scooters India Limited said in a BSE filing.

Scooters India had earlier reported a net profit of Rs 68.92 lakh for the June quarter as against Rs 95.85 lakh during the same quarter of the previous year.
Post the announcement, Scooters India shares closed at Rs 25.05, up 1.83 per cent on BSE.
In January 2013, the Cabinet had approved a Rs 200-crore revival package for ailing PSU Scooters India.