LML Freedom Prima (125 cc). Owing to excesses and over-spending, the company has been under financial constraints ever since its foray into bi-wheeler manufacturing, with dividend being declared only twice to its shareholders in spite of contemporary bi-wheeler manufacturers like TVS, Hero and Bajaj Auto not only growing multifold but also enhancing shareholders' worth. Even new entrants into the scooter market like Honda and Suzuki have achieved volumes of 50,000 units per month, which LML could never achieve with its full range of Scooters and motor-cycles. The bankruptcy has dealt a severe blow to SSI units in Kanpur, who were engaged in feeding critical and propriety items to LML since early 1980s, with many closing down or facing huge financial burden on themselves. New finance were obtained from Credit Suisse July 2006 and other institutions and the factory reopened on 8 March 2008 to manufacture geared Vespa style scooters, primarily for export. In the year 2008, LML appointed K K Shangloo as Special Director on the Board of Company under the provisions of Sick Industrial Companies (Special Provisions) Act, 1985. In the year 2009 LML launched the 4 stroke scooter which was identical to the 2 stroke counterpart, but had a different internal mechanism with 4 stroke engine. In the year 2013, LML relaunched LML Freedom DX, a 110 cc bike in the Commuter category. In the year 2016, LML launched the Star 125 Lite automatic version on a small frame. It also launched the 150 cc variant of the automatic as Star Euro 150. Star Euro 200 a geared version of the four stroke was also launched. Around 2016, LML launched its three wheeler the LML Buddy. LML issued a notice of insolvency on 2 June 2017. As of August 2020, the factory has been dismantled completely, spares, machines and scooters scrapped, toolings partly sold to SIP scooter shop of Germany. See also List of motor scooter manufacturers and brands References External links LML global site (archived) Companies based in Kanpur Vehicle manufacturing companies established in 1972 Scooter manufacturers Motorcycle manufacturers of India Indian brands Vehicle manufacturing companies disestablished in 2017 Indian companies disestablished in 2017 Indian companies established in 1972 Economic history of Uttar Pradesh 1972 establishments in Uttar Pradesh Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange