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id="coordinates"><a href="/wiki/Geographic_coordinate_system" title="Geographic coordinate system">Coordinates</a>: <style data-mw-deduplicate="TemplateStyles:r1156832818">.mw-parser-output .geo-default,.mw-parser-output .geo-dms,.mw-parser-output .geo-dec{display:inline}.mw-parser-output .geo-nondefault,.mw-parser-output .geo-multi-punct,.mw-parser-output .geo-inline-hidden{display:none}.mw-parser-output .longitude,.mw-parser-output .latitude{white-space:nowrap}</style><span class="plainlinks nourlexpansion"><a class="external text" href="https://geohack.toolforge.org/geohack.php?pagename=Board_for_Industrial_and_Financial_Reconstruction&params=28.625846_N_77.220299_E_"><span class="geo-nondefault"><span class="geo-dms" title="Maps, aerial photos, and other data for this location"><span class="latitude">28°37′33″N</span> <span class="longitude">77°13′13″E</span></span></span><span class="geo-multi-punct"> / </span><span class="geo-default"><span class="geo-dec" title="Maps, aerial photos, and other data for this location">28.625846°N 77.220299°E</span><span style="display:none"> / <span class="geo">28.625846; 77.220299</span></span></span></a></span></span></div></div> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Indian government agency</div> <p class="mw-empty-elt"> </p> <style data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><table class="infobox vcard"><caption class="infobox-title fn org">Board for Industrial and Financial Reconstruction</caption><tbody><tr><td colspan="2" class="infobox-image logo"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:Board_for_Industrial_and_Financial_Reconstruction_logo.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/en/thumb/8/8e/Board_for_Industrial_and_Financial_Reconstruction_logo.jpg/220px-Board_for_Industrial_and_Financial_Reconstruction_logo.jpg" decoding="async" width="220" height="221" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/8/8e/Board_for_Industrial_and_Financial_Reconstruction_logo.jpg 1.5x" data-file-width="315" data-file-height="316" /></a></span></td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;">Formation</th><td class="infobox-data note">1987</td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;">Dissolved</th><td class="infobox-data">30 November 2016</td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;">Type</th><td class="infobox-data"><a href="/wiki/Development_finance_institution" title="Development finance institution">Development Finance Institution</a></td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;">Legal status</th><td class="infobox-data">Statutory</td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;">Purpose</th><td class="infobox-data">Sick company remedies</td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;">Location</th><td class="infobox-data label"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style><div class="plainlist"><ul><li>New Delhi</li></ul></div></td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;">Coordinates</th><td class="infobox-data"><span class="geo-inline"><style data-mw-deduplicate="TemplateStyles:r1156832818">.mw-parser-output .geo-default,.mw-parser-output .geo-dms,.mw-parser-output .geo-dec{display:inline}.mw-parser-output .geo-nondefault,.mw-parser-output .geo-multi-punct,.mw-parser-output .geo-inline-hidden{display:none}.mw-parser-output .longitude,.mw-parser-output .latitude{white-space:nowrap}</style><span class="plainlinks nourlexpansion"><a class="external text" href="https://geohack.toolforge.org/geohack.php?pagename=Board_for_Industrial_and_Financial_Reconstruction&params=28.625846_N_77.220299_E_"><span class="geo-nondefault"><span class="geo-dms" title="Maps, aerial photos, and other data for this location"><span class="latitude">28°37′33″N</span> <span class="longitude">77°13′13″E</span></span></span><span class="geo-multi-punct"> / </span><span class="geo-default"><span class="geo-dec" title="Maps, aerial photos, and other data for this location">28.625846°N 77.220299°E</span><span style="display:none"> / <span class="geo">28.625846; 77.220299</span></span></span></a></span></span></td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Region served </div></th><td class="infobox-data">India</td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Chairman</div></th><td class="infobox-data">Nirmal Singh</td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Parent organisation</div></th><td class="infobox-data"><a href="/wiki/Ministry_of_Finance_(India)" title="Ministry of Finance (India)">Ministry of Finance</a>, <a href="/wiki/Government_of_India" title="Government of India">Government of India</a></td></tr><tr><th scope="row" class="infobox-label" style="padding-right:0.6em;">Website</th><td class="infobox-data"><span class="url"><a rel="nofollow" class="external text" href="http://www.bifr.nic.in/">www<wbr />.bifr<wbr />.nic<wbr />.in</a></span></td></tr></tbody></table> <p>The <b>Board for Industrial and Financial Reconstruction</b> (BIFR) was a <a href="/wiki/Development_finance_institution" title="Development finance institution">development finance institution</a> under the <a href="/wiki/Ownership" title="Ownership">ownership</a> of <a href="/wiki/Ministry_of_Finance_(India)" title="Ministry of Finance (India)">Ministry of Finance</a>, <a href="/wiki/Government_of_India" title="Government of India">Government of India</a>, part of the Department of Financial Services of the <a href="/wiki/Ministry_of_Finance_(India)" title="Ministry of Finance (India)">Ministry of Finance</a>. Set up in January 1987 by the <a href="/wiki/Second_Rajiv_Gandhi_ministry" title="Second Rajiv Gandhi ministry">Rajiv Gandhi government</a>, its objective was to determine <a href="/wiki/Industrial_sickness" title="Industrial sickness">sickness of industrial companies</a> and to assist in reviving those that may be viable and shutting down the others.<sup id="cite_ref-FOOTNOTEBrief_Introduction_1-0" class="reference"><a href="#cite_note-FOOTNOTEBrief_Introduction-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> On 1 December 2016, the <a href="/wiki/First_Modi_ministry" title="First Modi ministry">Narendra Modi government</a> dissolved BIFR and referred all proceedings to the <a href="/wiki/National_Company_Law_Tribunal" title="National Company Law Tribunal">National Company Law Tribunal</a> (NCLT) and <a href="/wiki/National_Company_Law_Appellate_Tribunal" title="National Company Law Appellate Tribunal">National Company Law Appellate Tribunal</a> (NCLAT) as per provisions of <a href="/wiki/Insolvency_and_Bankruptcy_Code" class="mw-redirect" title="Insolvency and Bankruptcy Code">Insolvency and Bankruptcy Code</a>.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Board_for_Industrial_and_Financial_Reconstruction&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The BIFR was established under The Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). The board was set up in January 1987 and became functional as of 15 May 1987.<sup id="cite_ref-FOOTNOTEBrief_Introduction_1-1" class="reference"><a href="#cite_note-FOOTNOTEBrief_Introduction-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> A new industrial policy was tabled in Parliament on 24 July 1991 aiming to maintain growth in productivity and gainful employment and to encourage the growth of entrepreneurship and upgrades to technology.<sup id="cite_ref-FOOTNOTEReddy200442-43_3-0" class="reference"><a href="#cite_note-FOOTNOTEReddy200442-43-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> That year the SICA was amended to include public sector enterprises in the board's purview.<sup id="cite_ref-FOOTNOTEJainTrehanTrehan2008187_4-0" class="reference"><a href="#cite_note-FOOTNOTEJainTrehanTrehan2008187-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>The <a href="/wiki/Securitisation_and_Reconstruction_of_Financial_Assets_and_Enforcement_of_Security_Interest_Act,_2002" title="Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002">Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act of 2002</a> placed corporate debt outside the purview of the BIFR.<sup id="cite_ref-FOOTNOTEPathak2011515_5-0" class="reference"><a href="#cite_note-FOOTNOTEPathak2011515-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> By preventing reference to the BIFR, which had become a haven for the promoters of sick companies, the Act gives banks and financial institutions a better tool for recovering bad debt. It was complemented by the corporate <a href="/wiki/Debt_restructuring" title="Debt restructuring">debt restructuring</a> package under which lenders and borrowers would meet to agree on a way of recasting stressed debt.<sup id="cite_ref-FOOTNOTEPathak2011519_6-0" class="reference"><a href="#cite_note-FOOTNOTEPathak2011519-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/National_Company_Law_Tribunal" title="National Company Law Tribunal">National Company Law Tribunal</a> (NCLT) and the National Company Law Appellate Tribunal (NCLAT) would take over the functions of the BIFR and other bodies and speed up the process of winding down sick companies. The Companies (Amendment) Bill, 2001 was introduced because the government considered that the BIFR had not met its objective of preventing industrial sickness.<sup id="cite_ref-FOOTNOTELuthra2005241_7-0" class="reference"><a href="#cite_note-FOOTNOTELuthra2005241-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> The Sick Industrial Companies (Special Provisions) Repeal Act, 2003 replaced SICA and sought to dissolve the BIFR and the Appellate Authority for Industrial and Financial Reconstruction (AAIFR), replacing them by the NCLT and NCLAT. However, legal hurdles prevented the NCLT from being constituted.<sup id="cite_ref-FOOTNOTEKazmi2008220_8-0" class="reference"><a href="#cite_note-FOOTNOTEKazmi2008220-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Structure_and_objectives">Structure and objectives</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Board_for_Industrial_and_Financial_Reconstruction&action=edit&section=2" title="Edit section: Structure and objectives"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Board has a Chairman and from two to fourteen other members, all to be qualified as High Court judges or else to have at least fifteen years of relevant professional experience.<sup id="cite_ref-FOOTNOTEThe_Sick_Industrial_Companies6_9-0" class="reference"><a href="#cite_note-FOOTNOTEThe_Sick_Industrial_Companies6-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> The Board only handles large or medium-sized sick industrial companies in which large amounts have been sunk.<sup id="cite_ref-FOOTNOTEJainTrehanTrehan2008187_4-1" class="reference"><a href="#cite_note-FOOTNOTEJainTrehanTrehan2008187-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> Under the Sick Industrial Companies Act, the Board of a sick industrial company is legally obliged to report it to the BIFR, and the BIFR has the power to make whatever inquiries are needed to determine if the company is in fact sick.<sup id="cite_ref-FOOTNOTEReddy200479_10-0" class="reference"><a href="#cite_note-FOOTNOTEReddy200479-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p><p>Among other objectives the act was to provide a way to revive sick industrial companies and release public funds.<sup id="cite_ref-FOOTNOTEPathak2011514_11-0" class="reference"><a href="#cite_note-FOOTNOTEPathak2011514-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> If a company is found to be sick, the BIFR can give the company reasonable time to regain health (bring total assets above total liabilities) or it can recommend other measures.<sup id="cite_ref-FOOTNOTEReddy200479_10-1" class="reference"><a href="#cite_note-FOOTNOTEReddy200479-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> The board can take other actions including changes to management, amalgamation of the sick unit with a healthy one, sale or financial reconstruction.<sup id="cite_ref-FOOTNOTEJainTrehanTrehan2008187_4-2" class="reference"><a href="#cite_note-FOOTNOTEJainTrehanTrehan2008187-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> The Board can recommend a sick industrial company for winding up.<sup id="cite_ref-FOOTNOTEThe_Sick_Industrial_Companies18_12-0" class="reference"><a href="#cite_note-FOOTNOTEThe_Sick_Industrial_Companies18-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p><p>The BIFR was intended to bridge the legal gap between sickness and revival. It would impose time schedules for revival related activities to be completed, oversee their implementation and conduct periodic reviews of sick accounts. The BIFR would provide a forum for sharing views, coordinating effort and developing a unified approach to dealing with sick companies, speeding up the start of corrective action.<sup id="cite_ref-FOOTNOTEBalan1996110-111_13-0" class="reference"><a href="#cite_note-FOOTNOTEBalan1996110-111-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> The BIFR was meant to either turn companies around within six months or order closure.<sup id="cite_ref-FOOTNOTEBaijal2008203_14-0" class="reference"><a href="#cite_note-FOOTNOTEBaijal2008203-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Activity_and_results">Activity and results</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Board_for_Industrial_and_Financial_Reconstruction&action=edit&section=3" title="Edit section: Activity and results"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>By the end of March 1991, the BIFR had registered 1020 cases and heard 954. 175 were dismissed as not maintainable, and 124 were approved for the company to try to become net-worth positive on their own. Of the other 661 cases, the board sanctioned 182 revival plans and recommended that 120 cases be wound up.<sup id="cite_ref-FOOTNOTEBalan19965_15-0" class="reference"><a href="#cite_note-FOOTNOTEBalan19965-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> Up to the end of 2007, the BIFR had registered 5,471 references with 1,337 being recommended for winding up and 825 revival schemes being sanctioned.<sup id="cite_ref-FOOTNOTEJainTrehanTrehan2008188_16-0" class="reference"><a href="#cite_note-FOOTNOTEJainTrehanTrehan2008188-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> There were 66 sick Public Sector Enterprises registered with the board as of the end of March 2008, of which the government had approved 34 for revival.<sup id="cite_ref-FOOTNOTETrehan_&_Trehan152_17-0" class="reference"><a href="#cite_note-FOOTNOTETrehan_&_Trehan152-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p><p>BIFR has had mixed success. Some examples of successful recoveries are the recovery of <a href="/wiki/Bharat_Heavy_Electricals_Limited" title="Bharat Heavy Electricals Limited">Bharat Heavy Electricals Limited</a> in the 1980s, and more recently<sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Dates_and_numbers#Chronological_items" title="Wikipedia:Manual of Style/Dates and numbers"><span title="The time period mentioned near this tag is ambiguous. (May 2012)">when?</span></a></i>]</sup> the turnaround of <a href="/wiki/Arvind_Mills" class="mw-redirect" title="Arvind Mills">Arvind Mills</a>, <a href="/w/index.php?title=Scooters_India&action=edit&redlink=1" class="new" title="Scooters India (page does not exist)">Scooters India</a> and the North Eastern Regional Agricultural Marketing Corporation. There have been many more cases where attempts to revive the companies failed, including <a href="/wiki/Binny_and_Co." title="Binny and Co.">Binny and Co.</a>, <a href="/wiki/Calico_Mills" title="Calico Mills">Calico Mills</a>, <a href="/wiki/Guest_Keen_Williams" title="Guest Keen Williams">Guest Keen Williams</a>, <a href="/wiki/Hindustan_Cables" title="Hindustan Cables">Hindustan Cables</a>, <a href="/w/index.php?title=Metal_Box_Company&action=edit&redlink=1" class="new" title="Metal Box Company (page does not exist)">Metal Box Company</a> and <a href="/wiki/Wyman_Gordon" class="mw-redirect" title="Wyman Gordon">Wyman Gordon</a>.<sup id="cite_ref-FOOTNOTEKazmi2008220-221_18-0" class="reference"><a href="#cite_note-FOOTNOTEKazmi2008220-221-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> Problems have included insufficient resources, delays and lack of political willingness to take tough decisions.<sup id="cite_ref-FOOTNOTEFarazmand2001538_19-0" class="reference"><a href="#cite_note-FOOTNOTEFarazmand2001538-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> The BIFR in practice often became a way of prolonging the life of unviable companies for years at taxpayer expense.<sup id="cite_ref-FOOTNOTEBaijal2008203_14-1" class="reference"><a href="#cite_note-FOOTNOTEBaijal2008203-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p><p>According to former <a href="/wiki/Telecom_Regulatory_Authority_of_India" title="Telecom Regulatory Authority of India">Telecom Regulatory Authority of India</a> (TRAI) chief <a href="/wiki/Pradip_Baijal" title="Pradip Baijal">Pradip Baijal</a>, the board "was created to deal with the change in status quo outside government and given a quasi-judicial structure, to act in favour of public good, but has perhaps joined the tribe of numerous rent-seekers in the public ownership structure".<sup id="cite_ref-FOOTNOTEBaijal2008204_20-0" class="reference"><a href="#cite_note-FOOTNOTEBaijal2008204-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> Discussing <a href="/wiki/MS_Shoes" title="MS Shoes">MS Shoes</a>, whose reference was registered by BIFR on 22.2.2002. The productions and export turnover of MS Shoes increased from Rs.25 crores to Rs.171.93 crores. The company came up with public issues which were over subscribed by more than 50 times the company attempted for 5 star hotel land and ready built guest house complex at Hudco Place, New Delhi for deluxe 5 star hotel and 4 star hotel. The reasons of sickness was devolvement of public issue of February 1995 and cancellation as well as forfeiture by Hudco of the amount paid by MS Shoes.<sup id="cite_ref-order_21-0" class="reference"><a href="#cite_note-order-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> </p><p>Nirmala Ganapathy said: "One look at the track record of BIFR, and it doesn’t take a whiz [<i><a href="/wiki/Sic" title="Sic">sic</a></i>] to conclude that it is nothing but a graveyard of companies. A tiny fraction comes out healthy — only if the promoter is interested in putting it back up on its feet".<sup id="cite_ref-FOOTNOTEGanapathy2003_22-0" class="reference"><a href="#cite_note-FOOTNOTEGanapathy2003-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> The BIFR approved the revival scheme of the company as the promoters brought in Rs. 41.20 crores as on 31.3.2011 and Rs. 22.08 crores as loan to the company to be converted into equity shares further approving the promoters contribution to be converted into equity by increasing authorised capital from existing Rs. 90 crores to Rs. 200 crores. The promoters brought up the company to its healthy situation since the promoters were interested in putting the company back up on its feet.<sup id="cite_ref-order_21-1" class="reference"><a href="#cite_note-order-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Board_for_Industrial_and_Financial_Reconstruction&action=edit&section=4" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-FOOTNOTEBrief_Introduction-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEBrief_Introduction_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEBrief_Introduction_1-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFBrief_Introduction">Brief Introduction</a>.</span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.pwc.in/assets/pdfs/news-alert-tax/2016/pwc_news_alert_1_december_2016_sick_industrial_companies_act_1985_repealed_and_bifr-aifr_dissolved.pdf">"Sick Industrial Companies (Special Provisions) Act, 1985 repealed and BIFR/ AIFR dissolved"</a> <span class="cs1-format">(PDF)</span>. PWC<span class="reference-accessdate">. Retrieved <span class="nowrap">13 January</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Sick+Industrial+Companies+%28Special+Provisions%29+Act%2C+1985+repealed+and+BIFR%2F+AIFR+dissolved&rft.pub=PWC&rft_id=https%3A%2F%2Fwww.pwc.in%2Fassets%2Fpdfs%2Fnews-alert-tax%2F2016%2Fpwc_news_alert_1_december_2016_sick_industrial_companies_act_1985_repealed_and_bifr-aifr_dissolved.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></span> </li> <li id="cite_note-FOOTNOTEReddy200442-43-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEReddy200442-43_3-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFReddy2004">Reddy 2004</a>, p. 42-43.</span> </li> <li id="cite_note-FOOTNOTEJainTrehanTrehan2008187-4"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEJainTrehanTrehan2008187_4-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEJainTrehanTrehan2008187_4-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-FOOTNOTEJainTrehanTrehan2008187_4-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFJainTrehanTrehan2008">Jain, Trehan & Trehan 2008</a>, p. 187.</span> </li> <li id="cite_note-FOOTNOTEPathak2011515-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEPathak2011515_5-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFPathak2011">Pathak 2011</a>, p. 515.</span> </li> <li id="cite_note-FOOTNOTEPathak2011519-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEPathak2011519_6-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFPathak2011">Pathak 2011</a>, p. 519.</span> </li> <li id="cite_note-FOOTNOTELuthra2005241-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTELuthra2005241_7-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFLuthra2005">Luthra 2005</a>, p. 241.</span> </li> <li id="cite_note-FOOTNOTEKazmi2008220-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEKazmi2008220_8-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFKazmi2008">Kazmi 2008</a>, p. 220.</span> </li> <li id="cite_note-FOOTNOTEThe_Sick_Industrial_Companies6-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEThe_Sick_Industrial_Companies6_9-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFThe_Sick_Industrial_Companies">The Sick Industrial Companies</a>, p. 6.</span> </li> <li id="cite_note-FOOTNOTEReddy200479-10"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEReddy200479_10-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEReddy200479_10-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFReddy2004">Reddy 2004</a>, p. 79.</span> </li> <li id="cite_note-FOOTNOTEPathak2011514-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEPathak2011514_11-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFPathak2011">Pathak 2011</a>, p. 514.</span> </li> <li id="cite_note-FOOTNOTEThe_Sick_Industrial_Companies18-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEThe_Sick_Industrial_Companies18_12-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFThe_Sick_Industrial_Companies">The Sick Industrial Companies</a>, p. 18.</span> </li> <li id="cite_note-FOOTNOTEBalan1996110-111-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEBalan1996110-111_13-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFBalan1996">Balan 1996</a>, p. 110-111.</span> </li> <li id="cite_note-FOOTNOTEBaijal2008203-14"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEBaijal2008203_14-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEBaijal2008203_14-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFBaijal2008">Baijal 2008</a>, p. 203.</span> </li> <li id="cite_note-FOOTNOTEBalan19965-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEBalan19965_15-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFBalan1996">Balan 1996</a>, p. 5.</span> </li> <li id="cite_note-FOOTNOTEJainTrehanTrehan2008188-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEJainTrehanTrehan2008188_16-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFJainTrehanTrehan2008">Jain, Trehan & Trehan 2008</a>, p. 188.</span> </li> <li id="cite_note-FOOTNOTETrehan_&_Trehan152-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTETrehan_&_Trehan152_17-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFTrehan_&_Trehan">Trehan & Trehan</a>, p. 152.</span> </li> <li id="cite_note-FOOTNOTEKazmi2008220-221-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEKazmi2008220-221_18-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFKazmi2008">Kazmi 2008</a>, p. 220-221.</span> </li> <li id="cite_note-FOOTNOTEFarazmand2001538-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEFarazmand2001538_19-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFFarazmand2001">Farazmand 2001</a>, p. 538.</span> </li> <li id="cite_note-FOOTNOTEBaijal2008204-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEBaijal2008204_20-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFBaijal2008">Baijal 2008</a>, p. 204.</span> </li> <li id="cite_note-order-21"><span class="mw-cite-backlink">^ <a href="#cite_ref-order_21-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-order_21-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20140714235754/http://bifr.nic.in/asp/sopupload/237_2002_25102013.pdf">"Archived copy"</a> <span class="cs1-format">(PDF)</span>. Archived from <a rel="nofollow" class="external text" href="http://bifr.nic.in/asp/sopupload/237_2002_25102013.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 14 July 2014<span class="reference-accessdate">. Retrieved <span class="nowrap">21 July</span> 2014</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Archived+copy&rft_id=http%3A%2F%2Fbifr.nic.in%2Fasp%2Fsopupload%2F237_2002_25102013.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_web" title="Template:Cite web">cite web</a>}}</code>: CS1 maint: archived copy as title (<a href="/wiki/Category:CS1_maint:_archived_copy_as_title" title="Category:CS1 maint: archived copy as title">link</a>)</span></span> </li> <li id="cite_note-FOOTNOTEGanapathy2003-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEGanapathy2003_22-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFGanapathy2003">Ganapathy 2003</a>.</span> </li> </ol></div></div> <dl><dt>Sources</dt></dl> <style data-mw-deduplicate="TemplateStyles:r1239549316">.mw-parser-output .refbegin{margin-bottom:0.5em}.mw-parser-output .refbegin-hanging-indents>ul{margin-left:0}.mw-parser-output .refbegin-hanging-indents>ul>li{margin-left:0;padding-left:3.2em;text-indent:-3.2em}.mw-parser-output .refbegin-hanging-indents ul,.mw-parser-output .refbegin-hanging-indents ul li{list-style:none}@media(max-width:720px){.mw-parser-output .refbegin-hanging-indents>ul>li{padding-left:1.6em;text-indent:-1.6em}}.mw-parser-output .refbegin-columns{margin-top:0.3em}.mw-parser-output .refbegin-columns ul{margin-top:0}.mw-parser-output .refbegin-columns li{page-break-inside:avoid;break-inside:avoid-column}@media screen{.mw-parser-output .refbegin{font-size:90%}}</style><div class="refbegin" style=""> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBaijal2008" class="citation book cs1">Baijal, Pradip (2008). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=XIbt79hR-hIC&pg=PA203">"THE BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION: THE JESSOP STORY"</a>. <i>Disinvestment in India: I Lose and You Gain</i>. Pearson Education India. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-8131712481" title="Special:BookSources/978-8131712481"><bdi>978-8131712481</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=THE+BOARD+FOR+INDUSTRIAL+AND+FINANCIAL+RECONSTRUCTION%3A+THE+JESSOP+STORY&rft.btitle=Disinvestment+in+India%3A+I+Lose+and+You+Gain&rft.pub=Pearson+Education+India&rft.date=2008&rft.isbn=978-8131712481&rft.aulast=Baijal&rft.aufirst=Pradip&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DXIbt79hR-hIC%26pg%3DPA203&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBalan1996" class="citation book cs1">Balan, K (1996). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=yHQtWfdL_egC&pg=PA5"><i>Managing Industrial Sickness</i></a>. Mittal Publications. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/817099537X" title="Special:BookSources/817099537X"><bdi>817099537X</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Managing+Industrial+Sickness&rft.pub=Mittal+Publications&rft.date=1996&rft.isbn=817099537X&rft.aulast=Balan&rft.aufirst=K&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DyHQtWfdL_egC%26pg%3DPA5&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBrief_Introduction" class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20120502040404/http://bifr.nic.in/aboutus.htm">"Brief Introduction of BIFR and its functioning"</a>. BIFR. Archived from <a rel="nofollow" class="external text" href="http://www.bifr.nic.in/aboutus.htm">the original</a> on 2 May 2012<span class="reference-accessdate">. Retrieved <span class="nowrap">1 May</span> 2012</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Brief+Introduction+of+BIFR+and+its+functioning&rft.pub=BIFR&rft_id=http%3A%2F%2Fwww.bifr.nic.in%2Faboutus.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFarazmand2001" class="citation book cs1">Farazmand, Ali (2001). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=YYSi92D_W44C&pg=PA538"><i>Handbook of Comparative and Development Public Administration</i></a>. CRC Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0824742028" title="Special:BookSources/0824742028"><bdi>0824742028</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Handbook+of+Comparative+and+Development+Public+Administration&rft.pub=CRC+Press&rft.date=2001&rft.isbn=0824742028&rft.aulast=Farazmand&rft.aufirst=Ali&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DYYSi92D_W44C%26pg%3DPA538&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGanapathy2003" class="citation web cs1">Ganapathy, Nirmala (6 June 2003). <a rel="nofollow" class="external text" href="http://www.indianexpress.com/oldStory/25264/">"MS Shoes has gone to the cleaners"</a>. <i><a href="/wiki/The_Indian_Express" title="The Indian Express">The Indian Express</a></i><span class="reference-accessdate">. Retrieved <span class="nowrap">2 May</span> 2012</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Indian+Express&rft.atitle=MS+Shoes+has+gone+to+the+cleaners&rft.date=2003-06-06&rft.aulast=Ganapathy&rft.aufirst=Nirmala&rft_id=http%3A%2F%2Fwww.indianexpress.com%2FoldStory%2F25264%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJainTrehanTrehan2008" class="citation book cs1">Jain, TR; Trehan, Mukesh; Trehan, Ranju (2008). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=Y77EEOe6cTEC&pg=PA187"><i>Business Environment</i></a>. FK Publications. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-8188597178" title="Special:BookSources/978-8188597178"><bdi>978-8188597178</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Business+Environment&rft.pub=FK+Publications&rft.date=2008&rft.isbn=978-8188597178&rft.aulast=Jain&rft.aufirst=TR&rft.au=Trehan%2C+Mukesh&rft.au=Trehan%2C+Ranju&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DY77EEOe6cTEC%26pg%3DPA187&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKazmi2008" class="citation book cs1">Kazmi (2008). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=J8YGhhK5keUC&pg=PA220"><i>Strategic Management And Business Policy</i></a>. Tata McGraw-Hill Education. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0070263628" title="Special:BookSources/978-0070263628"><bdi>978-0070263628</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Strategic+Management+And+Business+Policy&rft.pub=Tata+McGraw-Hill+Education&rft.date=2008&rft.isbn=978-0070263628&rft.au=Kazmi&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DJ8YGhhK5keUC%26pg%3DPA220&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLuthra2005" class="citation book cs1">Luthra, Ved P. (2005). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=IOhb6jGC2gcC&pg=PA241"><i>Poverty And Economic Reforms</i></a>. Sarup & Sons. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/8178901366" title="Special:BookSources/8178901366"><bdi>8178901366</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Poverty+And+Economic+Reforms&rft.pub=Sarup+%26+Sons&rft.date=2005&rft.isbn=8178901366&rft.aulast=Luthra&rft.aufirst=Ved+P.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DIOhb6jGC2gcC%26pg%3DPA241&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPathak2011" class="citation book cs1">Pathak, Bharati V. (2011). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=18iJsAxmK0gC&pg=PA514"><i>The Indian Financial System: Markets, Institutions and Services</i></a>. Pearson Education India. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-8131728178" title="Special:BookSources/978-8131728178"><bdi>978-8131728178</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Indian+Financial+System%3A+Markets%2C+Institutions+and+Services&rft.pub=Pearson+Education+India&rft.date=2011&rft.isbn=978-8131728178&rft.aulast=Pathak&rft.aufirst=Bharati+V.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D18iJsAxmK0gC%26pg%3DPA514&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFReddy2004" class="citation book cs1">Reddy, R. Jayaprakash (2004). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=NQv9vKgF_3MC&pg=PA42"><i>Business Environment</i></a>. APH Publishing. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/8176486418" title="Special:BookSources/8176486418"><bdi>8176486418</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Business+Environment&rft.pub=APH+Publishing&rft.date=2004&rft.isbn=8176486418&rft.aulast=Reddy&rft.aufirst=R.+Jayaprakash&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DNQv9vKgF_3MC%26pg%3DPA42&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFThe_Sick_Industrial_Companies" class="citation book cs1"><a rel="nofollow" class="external text" href="https://books.google.com/books?id=0KKWyCTb7jIC&pg=PA6"><i>The Sick Industrial Companies (Special Provisions) Act, 1985</i></a>. Georg Thieme Verlag. 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Sick+Industrial+Companies+%28Special+Provisions%29+Act%2C+1985&rft.pub=Georg+Thieme+Verlag&rft.date=2016&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D0KKWyCTb7jIC%26pg%3DPA6&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFTrehan_&_Trehan" class="citation book cs1">Trehan, Mukesh; Trehan, Ranju (1964). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=pg3EbcVF6WUC&pg=PA152"><i>Government and Business</i></a>. FK Publications. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9380006454" title="Special:BookSources/9380006454"><bdi>9380006454</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Government+and+Business&rft.pub=FK+Publications&rft.date=1964&rft.isbn=9380006454&rft.aulast=Trehan&rft.aufirst=Mukesh&rft.au=Trehan%2C+Ranju&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3Dpg3EbcVF6WUC%26pg%3DPA152&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABoard+for+Industrial+and+Financial+Reconstruction" class="Z3988"></span></li></ul> </div> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output 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