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Board Of Industrial And Financial Reconstruction
The Board for Industrial and Financial Reconstruction (BIFR) was a development finance institution under the ownership of Ministry of Finance, Government of India, part of the Department of Financial Services of the Ministry of Finance. Set up in January 1987 by the Rajiv Gandhi government, its objective was to determine sickness of industrial companies and to assist in reviving those that may be viable and shutting down the others. On 1 December 2016, the Narendra Modi government dissolved BIFR and referred all proceedings to the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) as per provisions of Insolvency and Bankruptcy Code. History 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. A new industrial policy was tabled in Parliament on 24 July 1991 aiming to maintain growth in productivity and gainful emp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Development Finance Institution
Development finance institution (DFI), also known as a Development bank, is a financial institution that provides risk capital for economic development projects on a non-commercial basis. DFIs are often established and owned by governments or nonprofit organizations to finance projects that would otherwise not be able to get financing from commercial lenders. They are often structured as a company that provides loans for projects that a government or nonprofit wants to encourage for non commercial reasons. They can be at a local, national or international level. DFIs include multilateral development banks, national development banks, bilateral development banks, microfinance institutions, community development financial institution and revolving loan funds.Andrea Levere, Bill Schweke, and Beadsie Woo, Development Finance and Regional Economic Development, Washington, DC: CFED, July 2006 Mandate DFIs can play a crucial role in financing private and public sector invest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Calico Mills
The Calico Mills, officially Ahmedabad Manufacturing and Calico Printing Mills Ltd and M/S ILAC Ltd, was one of the earliest textile mills established in Ahmedabad, India, by the Sarabhai family. Established in 1888, it closed in 1998. The land, plant and machinery were sold in a public auction in 2010s. History The Calico Mills was one of earliest textile mills in Ahmedabad, established in 1888 by Sheth Karamchand Premchand, the ancestor of Sarabhai family. The mills were spread over an area of on the bank of Sabarmati river. The mills flourished under Ambalal Sarabhai. It was later managed by Ambalal's son his nephew. The mills were started showing downturn with time due to lack of upgrade, changing fashions, tax and debt collections and mismanagement. In 1982, 12,400 workers were laid off from the weaving department due to financial issues. Later 55 out of 64 mill units were in financial trouble. Eventually about 1,00,000 workers were laid off. After several attempt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Agencies Established In 1987
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The main types of modern political systems recognized are democracies, totalitarian regimes, and, sitting between these two, authoritarian regimes with a variety of hybrid regimes. Modern classification systems also include monarchies as a standalone entity or as a hybrid system of the main three. Historically prevalent forms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance In India
A prevailing trend from the Medieval India, medieval period, most Indians invest more than half of personal savings physical assets such as land, houses, gold, livestock, and other precious metals and ornaments. Since liberalisation in the 1990s, the Government of India has approved significant banking reforms. While some of these relate to nationalised banks (like encouraging mergers, reducing government interference and increasing profitability and competitiveness), other reforms have opened up the Banking in India, banking and Insurance in India, insurance sectors to private and foreign players. Banking and other lending financial institutions Prime Minister Indira Gandhi nationalisation, nationalised 54 banks in 1969, followed by six others in 1980, and made it mandatory for banks to provide 40% of their net credit to priority sectors like agriculture, small-scale industry, retail trade, small businesses, etc. to ensure that the banks fulfill their social and developmental ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2016 Disestablishments In India
Sixteen or 16 may refer to: *16 (number) *one of the years 16 BC, AD 16, 1916, 2016 Films * ''Pathinaaru'' or ''Sixteen'', a 2010 Tamil film * ''Sixteen'' (1943 film), a 1943 Argentine film directed by Carlos Hugo Christensen * ''Sixteen'' (2013 Indian film), a 2013 Hindi film * ''Sixteen'' (2013 British film), a 2013 British film by director Rob Brown Music *The Sixteen, an English choir *16 (band), a sludge metal band * Sixteen (Polish band), a Polish band Albums * ''16'' (Robin album), a 2014 album by Robin * 16 (Madhouse album), a 1987 album by Madhouse * ''Sixteen'' (album), a 1983 album by Stacy Lattisaw *''Sixteen'' , a 2005 album by Shook Ones * ''16'', a 2020 album by Wejdene Songs * "16" (Sneaky Sound System song), 2009 * "Sixteen" (Thomas Rhett song), 2017 * "Sixteen" (Ellie Goulding song), 2019 *"Six7een", by Hori7on, 2023 *"16", by Craig David from ''Following My Intuition'', 2016 *"16", by Green Day from ''39/Smooth'', 1990 *"16", by Highly Suspect from ''M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1987 Establishments In India
Events January * January 1 – Bolivia reintroduces the Boliviano currency. * January 2 – Chadian–Libyan conflict – Battle of Fada: The Military of Chad, Chadian army destroys a Libyan armoured brigade. * January 3 – Afghan leader Mohammad Najibullah says that Afghanistan's 1978 Communist revolution is "not reversible," and that any opposition parties will have to align with Communist goals. * January 4 – ** 1987 Maryland train collision: An Amtrak train en route from Washington, D.C. to Boston collides with Conrail engines at Chase, Maryland, United States, killing 16 people. ** Televangelist Oral Roberts announces to his viewers that unless they donate $8 million to his ministry by March 31, God will "call [him] home." * January 15 – Hu Yaobang, General Secretary of the Chinese Communist Party, is forced into retirement by political conservatives. * January 16 – León Febres Cordero, president of Ecuador, is kidnapped for 11 hours by followers of imprisoned ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Indian Express
''The Indian Express'' is an English-language Indian daily newspaper founded in 1932 by P. Varadarajulu Naidu. It is headquartered in Noida, owned by the ''Indian Express Group''. It was later taken over by Ramnath Goenka. In 1999, eight years after Goenka's death in 1991, the group was split between the family members. The southern editions took the name '' The New Indian Express'', while the northern editions, based in Mumbai, retained the original ''Indian Express'' name with ''The'' prefixed to the title. History In 1932, the ''Indian Express'' was started by an Ayurvedic doctor, P. Varadarajulu Naidu, at Chennai, being published by his Tamil Nadu press. Soon under financial difficulties, he sold the newspaper to Swaminathan Sadanand, the founder of '' The Free Press Journal'', a national news agency. In 1933, the ''Indian Express'' opened its second office in Madurai, launching the Tamil edition, '' Dinamani''. Sadanand introduced several innovations and reduced t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MS Shoes
MS Shoes East Ltd. is a company established in Delhi, India on 17 March 1986 The main object of the company was to take over running business of exports in the name of Shoes East Propriety. It attracted large investments before collapsing in February 1995. The Bombay Stock Exchange closed for three days after the crash. In 2005, a rehabilitation scheme for the company was devised by the Board for Industrial and Financial Reconstruction. Rise and fall Pavan Sachdeva took over his father's Delhi-based shoe export business, mostly serving Western Europe, and launched the company as MS Shoes in 1986. He raised money from investors and borrowed large sums from financial institutions and banks. Sachdeva used intriguing ads created by the Delhi branch of Rediffusion to attract investors. During the period 1986–1993, the company won various export awards from the Council of Leather Exports, from Delhi Administration, and from the National Productivity Council. The company came ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pradip Baijal
Pradip Baijal is an officer of the Indian Administrative Service (IAS) who retired as the chief of the Telecom Regulatory Authority of India (TRAI). Baijal held several senior administrative positions in the Ministry of Finance and Industries at state level but first came into prominence as the disinvestment secretary in 1999 and was part of the team that was involved in the disinvestment of various Govt companies like BP, VSNL, IPCL and Maruti. He is credited for the sale of Maruti which resulted in a Rs 1000 crore control premium for the government). He retired as the Chairman of the Telecom Regulatory Authority of India (TRAI) in March 2006. Post retirement, Baijal setup Noesis Strategic Consulting Company. Education He was trained as an engineer before he joined the Indian Administrative Service. Baijal earned his BE (Honours) in Mechanical Engineering from University of Roorkee; now renamed the Indian Institute of Technology, Roorkee. He took part in a one-year visiting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Telecom Regulatory Authority Of India
The Telecom Regulatory Authority of India (TRAI) is a regulatory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997. It is the regulator of the telecommunications sector in India. It consists of a chairperson and not more than two full-time members and not more than two part-time members. The TRAI Act was amended by an ordinance, effective from 24 January 2000, establishing a Telecom Disputes Settlement and Appellate Tribunal to take over the adjudicatory and disputes functions from TRAI. History Telecom Regulatory Authority of India was established on 20 February 1997 by an Act of Parliament to regulate telecom services and tariffs in India. Earlier, regulation of telecom services and tariffs was overseen by the Central Government. TRAI's mission is to create and nurture conditions for the growth of telecommunications in India to enable the country to have a leading role in the emerging global information societ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wyman Gordon
Wyman-Gordon is a company that designs and manufactures complex metal components. Founded in 1883 as a manufacturer of crankshafts for looms, it has a long history of making forged metal components, particularly for the aerospace industry. Wyman-Gordon is a wholly owned subsidiary of Precision Castparts Corp., and is based in Houston, Texas. It has thirteen (13) plants in five countries, and employed about 2,500 people as of 2012. Wyman-Gordon is now ultimately owned by Warren Buffett, Warren Buffett’s Berkshire Hathaway as a result of the latter company’s acquisition of PCC in January 2016. History Early years The Worcester Drop Forge Works was founded in Worcester, Massachusetts, in 1883 by Horace Wyman and Lyman Gordon. It was later renamed the Wyman-Gordon Company. The company began with eight people in a small wooden factory building, forging crankshafts for looms. A 50-horsepower steam engine provided power for the steam hammer, drop hammers and other equipment. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
