Question

what are the benefits and main role of BIFR

Answer 1

Dear student,

The main role of Board for Industrial and Financial Reconstruction is to check the economic and technical viability of company or industry and to decide whether to rehabilitate it or to shut it down. The Board of BIFR can take other important decisions like merger or amalgamation of a sick unit with a healthy one. change the board of sick company, winding up of company, etc.

The benefits of BIFR are:

1. BIFR stops the continuous drain of public or private resources.
2. BIFR protects the employment.


Regards