Machan for 50K its quite unlikely you would get something decent IMHO. You may need to dish out a bit more, but maybe one of those little scooters. They do the job & are good on fuel.. But they are Indian I myself am looking for a vespa that I could do up. But the ones that I have seen so far, looked like they had been hit with mortar shells.
@Watchman albeit late in the day, machan aren't the inverted forks the 'Upside down' folks? i.e like the ones on the WR, etc etc.