Company History - Maharashtra Scooters
1975 - The company was incorporated on 11th June, at Pune. The
was promoted by Western Maharashtra Development Corporation
a wholly owned company of the Government of Maharashtra and
Auto Ltd. The main objective of the company is to manufacture
scooters under the trade name PRIYA.
- The company entered into a two agreements with Bajaj Auto
one for the preparation of the project report and another for
technical know-how and assistance.
- The technical know-how agreement was to be in force for a
of 10 years from the date of commencement of operations or
the company achieved a total production of 3,00,000 scooters
whichever is later. Under the agreement, Bajaj Auto Ltd.,
to supply to the Company components at reasonable prices
was understood to be lower than the dealer prices for the
components in the replacement market.
1977 - 70 shares subscribed for by the signatories to the Memorandum
association; 2,69,960 shares allotted to WMDC and 2,39,970
allotted to Bajaj Auto, Ltd. 4,90,000 shares offered at par
the public during November 1977.
1982 - 428,571 bonus shares issued in prop. 3:7.
1985 - The installed capacity was increased from 73,000 to 87,000
motorised two-wheelers upto 350cc engine capacity.
1986 - An application was made company for further enhancement of
licensed capacity from 87,000 to 2,00,000 nos. of motorised
two-wheelers and three-wheelers upto 350cc engine capacity,
the scheme of re-endorsement of industrial capacity with
reference to the minimum economic scales of operation
by the Government.
- The Company renewed its technical agreement with Bajaj Auto
for a further period of ten years from 1st January, 1998.
- 1,428,571 bonus shares issued in prop. 1:1.
1990 - During the year, the company commercial manufacture of Bajaj
Super Scooters for which a technical know-how agreement was
entered into with Bajaj Auto, Ltd. on terms and conditions
similar to the agreement for manufacture of Priya Scooters.
- 2,857,142 bonus shares issued in prop. 1:1.
1996 - During the Company has renewed its Technical know-how
with Bajaj Auto Ltd. for a further period of 10 years as
terms. Company has also entered into a protocol agreement
both the promoters of the company (i.e. Bajaj Auto Ltd. and
Western Maharashtra Development Corp. Ltd.).
--A deal was signed between the companies in May this year valid for
10 years from January 1 1998.
-Approved a proposal to issue one bonus share for every equity share
-Recommended the issue of 57 14 284 bonus shares of Rs. 10 each in
the proportion of the bonus share of every existing equity shares
-Bajaj Auto Limited has offered to buy out the Maharashtra
government's entire 27 per cent holding in this scooter manufacturing
joint venture Maharashtra Scooters Limited (MSL).
-The Company has introduced five-day working week at its plant in
Satara due to recesion in the scooter segment.
- The Company has introduced a voluntary retirement scheme for its
permanent staff members which will be effective till 30th
- Rashtriya Chemicals and Fertilisers Limited, Mumbai and Maharashtra
Scooters Ltd., Satara, were presented the Dr. R J Rathi Award for
Environment Pollution Control.
-Bajaj Auto Ltd has evinced interest to purchase the 27 per cent
equity stake in Maharashtra Scooters Ltd
- Voluntary Retirement Scheme was introduced during the year.
- Maharashtra government has formed a committee headed by chief
secretary Ajit Nibalkar to speed up strategic sale of its stake in
- The controversy over valuation of the Maharashtra government's 27
per cent stake in Maharashtra Scooters Ltd (MSL) has taken a new turn
with Dinesh Trivedi, a member of Rajya Sabha as well as finance
committee of Parliament,
Maharashtra Scooters Ltd has has completed production of CBU scooters
from available CKD packs.
E-mail ID of Investor Grievance: email@example.com
Maharashtra Scooters Ltd has hosted a website with domain name
Company announces Voluntary Retirement Scheme for the permanent daily
rated workmen employed in the scooter manufacturing unit of the
Company, operative during the period from June 06, 2011 to June 27,
Company has announced a Voluntary Retirement Scheme (VRS) for the
-Shri Naresh Patni appointed as Director of the Company.
-Maharashtra Scooters Ltd recommended a Dividend of Re. 1.00 per
- recommended a Dividend of Re. 1.00 per share.
-Shri Ramesh D. Devkar appointed as Director of the Company.
-Maharashtra Scooters Ltd has recommended a Dividend of Rs. 20 per
-Maharashtra Scooters Ltd has recommended a Dividend of Rs. 25.00 per
-Shri G.B. Maware Appointed as Nominee Director.
-Maha. Scooters - Authorised KMPs to determine materiality of