"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.
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.
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