BIFR SETS DEADLINE FOR REVIVAL OF IISCO
Article Abstract:
The Board for Industrial and Financial Reconstruction (BIFR) has set December 31, 1998, as the deadline for the finalisation of a revival plan for the Indian Iron & Steel Co (Iisco), a sick company. It has asked the Steel Authority of India Ltd (SAIL) and the Steel Ministry of the Government of India to evolve a revival plan by this date. The BIFR has stated that it would consider a change in the management of Iisco if SAIL and the Steel Ministry do not furnish the revival plan to the Industrial Development Bank of India (IDBI), the operating agency for Iisco by the first week of January 1999. It has asked both SAIL and IDBI to draw up the procedures for calling international tenders. (ag)
Comment:
Board for Industrial & Financial Reconstruction has set 12/31/98, as deadline for finalisation of revival plan for company
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BIFR ASKS KTL STAFF TO SKETCH REVIVAL PLAN IN 2 MONTHS
Article Abstract:
The sick Karnataka Telecom Ltd (KTL) stopped its operations in May 1996 due to the huge losses incurred by it. It is under the purview of the Board for Industrial and Financial Reconstruction (BIFR). BIFR has set a deadline of 2 months for the workers of KTL to make a feasible proposal to revive the company. KTL has liabilities of more than Rs22 crore. It has failed to find any takers. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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