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The government on Wednesday approved restructuring of the balance sheet of Scooters India by way of reduction of equity of ₹85.21 crore in the share capital held by the Centre against accumulated losses. The reduction would be deemed to have taken effect as on March 31, 2013, and freezing the interest on the ‘non-plan’ loan of ₹1.89 crore released to SIL during 2012-13. The move is expected to clear a hurdle in the process of disinvestment of the company.
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