Performance Evaluation of the Board for Industrial and Financial Reconstruction

Sreenath, Lalitha and Sreenath, M R (2005) Performance Evaluation of the Board for Industrial and Financial Reconstruction. TAPMI, Manipal.

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Abstract

In market-driven economies, the turnaround or demise of a loss-making company will depend on its management. But in India, during the heydays of socialisation, the Government felt that the efforts of the managements reviving sick industrial companies should be supplanted by statutory measures. This resulted in the enactment of a law called the Sick Industrial Companies (Special Provisions) Act (hereinafter called the Act) in 1985. Under the provisions of this Act, a body of experts called the Board for Industrial and Financial Reconstruction (hereinafter called the Board) was established and became operational in 1987. Thenceforth, the case of any industrial company that became sick within the meaning of the Act was to be compulsorily referred to the Board. Thereafter, following an elaborate procedure, the Board was to be determine whether the sick company can be revived or not and if yes, how. Since the early Nineties, winds of change have been sweeping over the Indian economy. Socialism, governmental controls and protectionism are out; privatisation, liberalisation and globalisation are in. In this paper, an attempt has been made to evaluate the performance of the Board and to assess the utility or otherwise of the Board in this changed business scenario.

Item Type:	TAPMI Working Papers
Uncontrolled Keywords:	industry evaluation;performance evaluation-industry;BIFR;
Subjects:	Entrepreneurship_Industry Entrepreneurship_Industry > Entrepreneurship Entrepreneurship_Industry > Industry General Management
Divisions:	General Management and Enterpreneurship
Depositing User:	Ms. Vanitha K
Date Deposited:	16 Nov 2018 09:07
Last Modified:	18 Nov 2018 12:47
URI:	http://tapmi.informaticsglobal.com/id/eprint/338

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