Maharashtra Scooters plans 3rd round of VRS

Maharashtra Scooters (MSL) is planning to offer a third round of voluntary retirement scheme (VRS) to workers as the company has decided to discontinue the production of geared scooters.

Rahul Bajaj, chairman of MSL, told shareholders at the annual general meeting on Friday that the company is in the process of negotiating a wage agreement with workers, and the VRS will come into effect only after the agreement is in place.

MSL now has around 900 employees out of which two-thirds are at the Satara unit and the rest are at Akurdi.

Meanwhile, it is learnt that the Maharashtra Government has set up a high level committee to decide about the state's 27% stake in Maharashtra Scooters. The committee will comprise of top officials including the chief secretary and secretary, finance.