Misplaced Pages

#346653

37-647: 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

74-407: 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 . DFIs can play

111-778: A 1GWh lithium-ion battery plant in India.The plant's capacity will be scaled up to 30GWh in due course. In 2022, BHEL and Titagarh Wagons formed a consortium and participated in a tender by Government of India . The consortium emerged the second lowest bidder and will be supplying 80 Vande Bharat Trains at the rate of 120 crore per train to Indian Railways . BHEL will supply propulsion system i.e. IGBT based traction converter-inverter, auxiliary converter, train control management system, motors, transformers and mechanical bogies. In 2023, Nuclear Power Corporation of India Limited (NPCIL) and Bharat Heavy Electricals Limited (BHEL) have entered into an MoU to jointly pursue business opportunities in

148-613: A 59% increase over 2014–15. With the all-time high commissioning of 15000 MW in a single year FY2015-16, BHEL has exceeded 170 GW installed base of power generating equipments. BHEL has been catering to the nation's Nuclear Programme since 1976 by way of design, manufacture, testing and supply of critical nuclear components like Reactor Headers, Steam Generators, Steam Turbine Generators, other Heat Exchangers and Pressure Vessels. It also has been exporting its power and industry segment products and services for over 40 years. BHEL's global references are spread across over 76 countries across all

185-428: A crucial role in financing private and public sector investments in developing countries, in the form of higher risk loans, equity positions, and guarantees. DFIs often provide finance to the private sector for investments that promote development and to help companies to invest, especially in countries with various restrictions on the market. As of November 2020 , development banks and private finance had not reached

222-458: A unified approach to dealing with sick companies, speeding up the start of corrective action. The BIFR was meant to either turn companies around within six months or order closure. 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,

259-457: A way of prolonging the life of unviable companies for years at taxpayer expense. According to former Telecom Regulatory Authority of India (TRAI) chief Pradip Baijal , 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". Discussing MS Shoes , whose reference

296-479: A world record holder for running 962 unbroken days. BHEL is one of the only four Indian companies and the only Indian public sector enterprise figuring in 'The Global Innovation 1000' of Booz & Co. , a list of 1,000 publicly traded companies which are the biggest spenders on R&D in the world. In 2011, Bharat Heavy Electricals Ltd has been ranked 9th most innovative company in the world by US business magazine Forbes. It filed 303 patents and copyrights during

333-481: Is a factory and township in Uttar Pradesh, India. It was founded on 9 January 1974 and is one of the 17 manufacturing units including FSIP Jagdishpur . BHEL Jhansi started production of transformers in 1976. BHEL Jhansi has two product groups: transformers and locomotives. BHEL collaborated with National High Power Test Laboratory Pvt. Ltd. (NHPTL) to test auto transformer at NHPTL facilities. BHEL to establish

370-554: Is an Indian central public sector undertaking and the largest government-owned electrical/ industrial technology company. It is owned by the Government of India , with administrative control by the Ministry of Heavy Industries . Established in 1956 with the help of Soviet technology, BHEL is based in New Delhi . BHEL was established in 1956 ushering in the heavy electrical equipment industry in India. Heavy Electricals (India) Limited

407-593: Is engaged in the design, engineering, manufacturing, construction, testing, commissioning and servicing of a wide range of products, systems and services for the core sectors of the economy, viz. power, transmission, industry, transportation, renewable energy, oil & gas, and defence. It has a network of 16 manufacturing units, two repair units, four regional offices, eight service centres, eight overseas offices, 15 regional centres, seven joint ventures, and infrastructure allowing it to execute more than 150 projects at sites across India and abroad. The company has established

SECTION 10

#1733085343347

444-540: Is where Bharat Heavy Electricals Limited has filed the maximum number of patents, followed by USA and Europe.Bharat Heavy Electricals Ltd (BHEL) on an average applied for more than one patent or copyright every working day in FY-2011. BHEL's investment in R&;D is amongst the largest in the corporate sector in India. During 2012–2013, the company invested about ₹1,252 Crore on R&D efforts, which corresponds to nearly 2.50% of

481-676: The Ordnance Factory Board and simulators to the Indian Armed Forces. It also has been exporting its power and industry segment products and services for over 40 years. BHEL's global references are spread across over 76 countries across all the six continents of the world. The cumulative overseas installed capacity of BHEL manufactured power plants exceeds 9,000 MW across 21 countries including Malaysia, Oman , Iraq, UAE, Bhutan , Egypt, and New Zealand. Their physical exports range from turnkey projects to after sales services. BHEL

518-602: 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. 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. The Board only handles large or medium-sized sick industrial companies in which large amounts have been sunk. Under

555-469: The India's first High Temperature Spin Test Rig for coal based thermal power plants.The efficiency enhancement of coal-based thermal power plants depends on the use of nickel-based superalloy materials as against chrome-based steels widely used now. Advanced Ultra Super Critical (AUSC) consortium selected the nickel-based Alloy 617M. In 2019, BHEL and Libcoin are in talks to form a consortium to initially build

592-515: 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. The Sick Industrial Companies (Special Provisions) Repeal Act, 2003 replaced SICA and sought to dissolve

629-724: 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. Among other objectives the act was to provide a way to revive sick industrial companies and release public funds. 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. The board can take other actions including changes to management, amalgamation of

666-624: The US$ 100 billion per year investment of climate financing stipulated in the UN climate negotiations for 2020. However, in the face of the COVID-19 pandemic's economic downturn , 450 development banks pledged to fund a " Green recovery " in developing countries. Development banks include: This finance-related article is a stub . You can help Misplaced Pages by expanding it . Bharat Heavy Electricals Limited Bharat Heavy Electricals Limited ( BHEL )

703-500: The amount paid by MS Shoes. Nirmala Ganapathy said: "One look at the track record of BIFR, and it doesn’t take a whiz [ sic ] 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". 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

740-552: The area of nuclear power plants based on Pressurized Heavy Water Reactor (PHWR) technology. BHEL is the company to be actively associated with all the three stages of the Indian Nuclear Programme (1st Stage PHWR , 2nd Stage FBR and 3rd Stage AHWR ). In May 2023, Bharat Heavy Electricals Limited (BHEL), stated that the Indian Railways has set very ambitious targets and kept aggressive targets for upgradation.One of

777-458: The board sanctioned 182 revival plans and recommended that 120 cases be wound up. 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. 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. BIFR has had mixed success. Some examples of successful recoveries are

SECTION 20

#1733085343347

814-546: The bulk of the company's revenue is still derived from the sale of power generation equipment such as turbines and boilers. As of 2017, equipment supplied by BHEL constituted around 55% of the total installed power generation capacity in India. The company also supplies electric locomotives to the Indian Railways and defence equipment such as the Super Rapid Gun Mount (SRGM) naval guns manufactured in partnership with

851-478: The capability to deliver 20,000 MW p.a. of power equipment to address the growing demand for power generation equipment. BHEL has retained its market leadership position during 2015–16 with 74% market share in the Power Sector. An improved focus on project execution enabled BHEL record its highest ever commissioning/synchronization of 15059 MW of power plants in domestic and international markets in 2015–16, marking

888-592: 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. Development finance institution 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

925-1059: The manufacturing divisions play a complementary role. BHEL has established Centres of Excellence for Simulators, Computational Fluid Dynamics, Permanent Magnet Machines, Surface Engineering, Machine Dynamics, Centre for Intelligent Machines and Robotics, Compressors & Pumps, Centre for Nano Technology, Ultra High Voltage Laboratory at Corporate R&D; Centre of Excellence for Hydro Machines at Bhopal; Power Electronics and IGBT & Controller Technology at Electronics Division, Bengaluru, and Advanced Fabrication Technology and Coal Research Centre at Tiruchirappalli. BHEL has established four specialized institutes, viz., Welding Research Institute (WRI) at Tiruchirappalli, Ceramic Technological Institute (CTI) at Bangalore, Centre for Electric Traction (CET) at Bhopal and Pollution Control Research Institute (PCRI) at Haridwar. Amorphous Silicon Solar Cell plant at Gurgaon pursues R&D in Photo Voltaic applications. Bharat Heavy Electricals Limited (BHEL) has achieved

962-591: 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 . 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

999-457: The purview of the BIFR. 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 debt restructuring package under which lenders and borrowers would meet to agree on a way of recasting stressed debt. National Company Law Tribunal (NCLT) and

1036-652: The recovery of Bharat Heavy Electricals Limited in the 1980s, and more recently the turnaround of Arvind Mills , Scooters India and the North Eastern Regional Agricultural Marketing Corporation. There have been many more cases where attempts to revive the companies failed, including Binny and Co. , Calico Mills , Guest Keen Williams , Hindustan Cables , Metal Box Company and Wyman Gordon . Problems have included insufficient resources, delays and lack of political willingness to take tough decisions. The BIFR in practice often became

1073-451: The sick unit with a healthy one, sale or financial reconstruction. The Board can recommend a sick industrial company for winding up. 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

1110-567: The significant goals set by the Indian Railways is the complete overhaul of signaling systems .As technology upgrades, BHEL will also upgrade and participate in the modernization process of the signaling system. BHEL is selected to construct 1340-megawatt Rampal coal power plant in Rampal Upazila , Bangladesh, which is close to the Sundarbans mangrove forest. The power plant is set up by Bangladesh-India Friendship Power Company Pvt. Limited —

1147-470: The six continents of the world. The cumulative overseas installed capacity of BHEL manufactured power plants exceeds 9,000 MW across 21 countries including Malaysia, Oman , Iraq, UAE, Bhutan , Egypt, and New Zealand. Their physical exports range from turnkey projects to after sales services. Bharat Heavy Electricals Limited has a total of 2406 patents globally, out of which 1326 have been granted. Of these 16833 patents, more than 78% patents are active. India

Board for Industrial and Financial Reconstruction - Misplaced Pages Continue

1184-433: The turnover of the company, focusing on new product and system developments and improvements in existing products. The IPR (Intellectual Property Rights) capital of BHEL grew by 21.5% in the year, taking the total to 2170. The corporate R&D division at Hyderabad leads BHEL's research efforts in a number of areas of importance to BHEL's product range. Research & product development (RPD) groups for each product group at

1221-723: The unique milestone of supplying its 100th Space-grade battery to ISRO for its very important and critical mission, Chandrayaan 3 . These are manufactured at the Electronic Systems Division (ESD) of BHEL in Bengaluru, These batteries use various types of chemistry, including Nickel-Cadmium, Nickel-Hydrogen and Lithium-Ion. BHEL-supplied equipment at Kaiga power plant creates world record for continuous operation. BHEL and NPCIL collaborated to develop 220-MW Kaiga 1 nuclear power plant, an indigenously designed pressurized heavy water reactor (PHWR). On 31 December 2019 Kaiga 1 became

1258-703: The year. Its intellectual capital has gone up to 1,438 patents and copyrights. Source: In 2009, has developed a new state-of-the-art 1,200 kV class Ultra High Voltage (UHV) transformer manufacturing facility at BHEL, Bhopal in Madhya Pradesh.The new UHV transformer block has a dust free and controlled atmosphere, air conditioned bays for winding works, pressurised bay for core building and final assembly, EOT cranes for lifting loads up to 450 tonne, isostatic pressing device for windings, air cushion transport system for movement of equipment & machinery and attached UHV laboratory for testing transformers. BHEL Jhansi ,

1295-546: Was merged with BHEL in 1974. When it was set up in 1956, BHEL was envisaged as a plain manufacturing PSU , with technological help from the Soviet Union . In 1980's it was cutting edge in thyristor technology. In 1991, BHEL was converted into a public company. Over time, it developed the capability to produce a variety of electrical, electronic, and mechanical equipment for various sectors, including transmission, transportation, oil and gas, and other allied industries. However,

1332-493: 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

1369-525: 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. That year the SICA was amended to include public sector enterprises in the board's purview. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act of 2002 placed corporate debt outside

#346653