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Question
What is the full form of BIFR? Explain.
What is the full form of BIFR? Explain.
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Solution
The full form of BIFR is the Board of Industrial and Financial Reconstruction. It was an agency of the Government of India and a division of the Department of Financial Services of the Ministry of Finance, created under the Sick Industrial Companies Act (SICA), 1985. Its purpose was to reshape and recover sick undertakings and to shut down or liquidate the ability of sick performances to grow or occur in the future or the long term.
The full form of BIFR is the Board of Industrial and Financial Reconstruction. It was an agency of the Government of India and a division of the Department of Financial Services of the Ministry of Finance, created under the Sick Industrial Companies Act (SICA), 1985. Its purpose was to reshape and recover sick undertakings and to shut down or liquidate the ability of sick performances to grow or occur in the future or the long term.
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