The company was established in the year 1922 for catering to the printing and stationery requirement of the companies under Andrew Yule Group. It is a wholly owned subsidiary of Andrew Yule & Co.Ltd. The production of the company in 2000-20001 is anticipated at Rs 3.85.cr.

The company was established for specially catering to the power generation and distribution equipment needs of the country. BHEL today is a major single point supplier of all systems and equipment required in Power Sector. It has 14 manufacturing Plants, 8 service centres and 4 Power Sector regional centres besides project sites and regional offices spread all over India and abroad. The company has been identified as ‘Navratna’ PSE.

The company has taken several steps to enter into new business areas where its existing infrastructure, skills and capabilities could be most gainfully utilised. Some such new areas include Waste Heat Recovery Boilers, Gas turbines, AC Locos, Ceralin Insulators, Turrent Castings, Desalination plants, etc

The company has formed two Joint Ventures, one with M/s Siemens of Germany and the other with M/s General Electric, USA in the area of Servicing/renovation of Thermal Plants and Servicing of Gas turbines respectively.

BHEL’s performance in 1999-2000 against MOU targets qualified it for placement in ‘Excellent’ category for the eleventh year in succession.

During the current year (2000-01), 2437 MW of Steam Turbines, 2027 MW of Turbo Generators, 501 MW of Hydro Turbines and 355 MW of Hydro Generators are planned for completion. In addition, 17 Gas Turbines and 11 Gas Turbo generators are also budgeted during the year, besides other major ‘items’ like 135180 MT of Boilers and Valves, 11281 MVA of Transformers, 15 Diesel Shunters, 875 motors, 2220 Traction machines etc.

The company is likely to end the year 2000-2001 with a turnover of Rs.6800 cr.

Bharat Bhari Udyog Nigam Ltd. (BBUNL) was incorporated as a holding company on September 17, 1986, with the primary aim to bring about technical, financial and managerial effectiveness through inter-unit correlation and better coordination with external agencies. It has the following subsidiary companies :

1. Burn Standard Company Ltd.

1. RBL Ltd. (RBL)

1. Jessop & Company Ltd.
2. Bharat Wagon & Engineering Company Ltd.
3. Braithwaite & Company Ltd.
4. Bharat Process & Mechanical Engineering Ltd.

Subsidiary : (i) Weighbird (India) Ltd. (WIL)

5. Lagan Jute Machinery Company Ltd. (Management of the company transferred to private partner w.e.f.4^th July, 2000)
6. Braithwaite, Burn & Jessop Construction Co. Ltd.

The aggregate production of all subsidiaries of the holding company is anticipated to be Rs. 593.07 cr. in 2000-2001 (excluding Lagan Jute Machinery Co. Ltd.)

Consequent upon the Nationalisaton of the erstwhile Burn & Company Ltd. and the Indian Standard Wagon Company Ltd., Burn Standard Company Ltd. (BSCL) was incorporated on December 1, 1976. The company has two large engineering units at Howrah and Burnpur in West Bengal besides eight refractory and ceramic units located in Bihar, West Bengal, Tamilnadu and Madhya Pradesh. The major products being manufactured by BSCL include wagons, structurals, points and crossings, bogies, ash handling plant, coal handling plant etc. The company became sick and is under reference to BIFR. A revival plan sanctioned by BIFR is under implementation. As per the revival plan, Govt. has released an amount of Rs.150 cr. as fresh infusion of funds and carried out financial restructuring of Rs.465 cr. Some of the refractory units are sick and unviable. In 7 such loss making refractory units, permission has been granted by the Appropriate Authority for their closure. The production of the company during the year 2000-01 is likely to be Rs. 209.03 cr.

Bharat Brakes & Valves Ltd. (BBVL) came into operation w.e.f. 1.8.1978 after nationalisation of M/s Grasham & Craven of India (P) Ltd. The company became a wholly owned subsidiary of M/s Burn Standard Company Ltd., w.e.f. April, 1986.

The company is mainly engaged in manufacture of equipment required by the Indian Railways for rolling stock and locomotives such as Vacuum Brakes, Exhausters, Slack Adjusters and Air brakes. The company became sick and was referred to BIFR. A revival scheme sanctioned by BIFR is under implementation. As per the revival plan, Govt. has released Rs.6.27 cr. as fresh infusion of funds and carried out financial restructuring of Rs.20.34 cr. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation.

RBL Ltd. was incorporated with equity participation by Burn Standard Company Ltd. (BSCL) and Reyrolle Parsons Ltd., U.K. The company became a subsidiary of BSCL w.e.f. 25^th July, 1990. The company is engaged in manufacture of flame proof industrial switchgear, vacuum circuit breakers, flame proof mining switchgear and control panels. The company became sick and was referred to BIFR. A revival plan sanctioned by BIFR is under implementation. As per the revival plan, Govt. has released Rs.4.13 cr. as fresh infusion of funds and carried out financial restructuring of Rs.2.36 cr. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation.

Jessop & Company Ltd. was taken over by the Govt. with effect from 1^st April, 1973.

The company is engaged in design and manufacture of a diversified range of products viz. Railway Rolling Stock, Earth Moving Equipment, a wide range of Cranes, Structural Fabrication, Hydraulic Gates, Paper Machinery etc. The company became sick and was referred to BIFR. The company’s revival plan has been sanctioned by BIFR which is under implementation. As per the revival plan, Govt. has released Rs. 43 cr. as fresh infusion of funds and carried out financial restructuring of Rs.141 cr. The production of the company during 2000-01 is anticipated to be Rs. 43.37 cr.

The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation.

Consequent upon nationalisation, the company was taken over by Govt. in Dec. 1976. The company has three manufacturing units viz., (i) Clive Works, (ii) Victoria Works and (iii) Angus Works which are engaged primarily in the manufacture of Railway Wagons, steel structurals, and general and special purpose cranes including Container Handling Cranes, Rail-Mounted Diesel Loco Break down Cranes, Jute Carding Machines and Roll Feeders for the Jute industry, etc. The company became sick and was referred to BIFR. A revival scheme sanctioned by BIFR is under implementation. As per the revival plan, Govt. has released Rs.26.68 cr. and carried out financial restructuring of Rs.144 cr. The production of the company during the year 2000-2001 is anticipated to be Rs. 166.92 cr.

BHARAT WAGON AND ENGINEERING COMPANY LTD.

Bharat Wagon & Engineering Company Ltd. (BWEL) was formed after nationalisation of Britannia, Mokameh, Bihar and Arthur Butler, Muzaffarpur, Bihar in December, 1979. The main products of the company are Railway Wagons, screw pile bridges, steel fabrications, Grey Iron Castings etc. Efforts are being made by the company to diversify and develop other product lines like oil tanks and other structural fabrication and erection work at project sites, to reduce dependence on wagon orders. The production of the company during 2000-2001 is anticipated to be Rs. 127.31 cr.

Bharat Process & Mechanical Engineers Ltd (BPME) was incorporated in October, 1980 as a Government company. The company became sick and was referred to BIFR. There is practically no production activity in the company. BIFR had recommended winding up of the company in July 1996. The company was also referred to an ‘Expert Group’ to examine the possibility of revival of the company. Recommendations of the Expert Group were examined and it has been decided to take action for closure of the company and as a safety net to the employees, provide benefits of VRS under Voluntary Separation Scheme (VSS). Permission for closure has been sought from the ‘appropriate authority’ which is awaited. Benefits under VSS are much higher than compensation under ID Act, 1947.

Weighbird (India) Ltd. (WIL) was incorporated in the year 1962 by virtue of nationalisation of the erstwhile Burn and Company Ltd. WIL became a wholly owned subsidiary of Bharat Process and Mechanical Engineers Ltd.

The company became sick and was referred to BIFR. BIFR’s final recommendations of Feb. 1997 for winding up were sent to Calcutta High Court. In the meanwhile, the company was also referred to an Expert Group to examine the possibility of revival of the company. Recommendations of the Expert Group were examined and it was decided to take action for closure of the company and as a safety net to employees, provide benefits of VRS under Voluntary Separation Scheme (VSS). Benefits under VSS are much higher than the compensation under ID Act, 1947. ‘Appropriate Authority’ has granted permission for closure of the company.

Braithwaite Burn & Jessop Construction Co. Ltd. (BBJ) was constituted by Braithwaite, Burn and Jessop in 1935 for erection of the Howrah Bridge. BBJ turned into a PSE in August 1987 when it became a subsidiary of Bharat Bhari Udyog Nigam Ltd., (BBUNL).

The company is engaged in construction of steel bridges, Marine structures and Jetties etc. BBJ has acquired the modern technology of construction of cable stayed long span road bridges. The company has diversified into marine related activity and procured a dredging order for Rs.9 cr. The turnover of the company in 2000-2001 is anticipated to be Rs. 30.20 cr.

Bharat Yantra Nigam Ltd. (BYNL), was incorporated in July, 1986, with the main objective to integrate, monitor and coordinate the activities of the subsidiary companies with a view to secure optimum utilisation of resources and to provide package and turnkey services to various core sectors. It has following 6 companies as its subsidiaries.

1. Bharat Heavy Plate & Vessels Ltd., Visakhapatnam.
2. Bharat Pumps & Compressors Ltd., Naini, Allahabad.
3. Bridge & Roof Company (India) Ltd., Calcutta.
4. Richardson & Cruddas (1972) Ltd., Mumbai.
5. Tungabhadra Steel Products Ltd., Hospet, Karnataka.
6. Triveni Structurals Ltd., Naini, Allahabad.

The total production of all subsidiary companies during 2000-2001 is anticipated to be Rs. 800.00 cr.

Bharat Heavy Plates & Vessels Ltd. (BHPV) was set up in the year 1966 for catering to the requirement of equipments for Core Sectors such as Fertilizers, Oil Refineries, Petrochemicals, etc.

The company has three product divisions namely Process Plant Division, Cryogenics and Boiler Division. For effective utilisation of the existing facilities, the company implemented a number of diversification schemes such as manufacture of Air & Gas Separation Plants, design and manufacture of Industrial Boilers, Systems packages for Process Industries etc. with the technical back-up from world renowned companies. The production of the company for the year 2000-2001 is anticipated to be Rs. 270.00 cr.

The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation.

Bharat Pumps & Compressors Ltd. (BPCL) was incorporated in January, 1970 at Naini, Allahabad. The company is catering to the needs of sectors like oil, fertilizer, chemicals etc. for various types of pumps & compressors. The company became sick and was referred to BIFR. The company’s BIFR sanctioned revival plan is under implementation. As per the revival plan, Govt. has released Rs.15.75 cr. as fresh infusion of funds and carried out financial restructuring of Rs.81 cr. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation. The company is likely to end the year 2000-2001 with a production of Rs. 55.00 cr.

Bridge & Roof Company (India) Ltd. (B&R) was initially a subsidiary of Balmer Lawrie & Co.Ltd. Subsequently, Government of India directly invested additional equity capital of Rs.174 lakhs in December, 1978 and thus B&R became a Govt. company. The administrative control of this company was transferred to this Department from Ministry of Petroleum in June, 1986. The company’s operations cover fabrication of medium and heavy structures, civil engineering works in respect of buildings, concrete bridges, project civil work, cooling towers, Mechanical erection of complete plants for refineries, fertilizers, chemical, steel aluminium, etc. The turnover of the company during the year 2000-2001 is anticipated to be Rs. 350.00 cr.

Richardson & Cruddas (1972) Ltd. (R&C) was taken over from private sector in March, 1973. It has four units – two in Mumbai and one each in Chennai and Nagpur. The company became a subsidiary of BYNL with effect from 2^nd April, 1987.

The product profile of the company covers steel structures, transmission line powers, industrial machinery, chemical machinery, refrigeration equipment etc. The company became sick and was referred to BIFR. A revival plan sanctioned by BIFR in Nov. 1995 is under implementation. As per the revival plan, Govt. has carried out financial restructuring of Rs.133.00 cr. Company’s production during the year 2000-2001 is likely to be Rs. 70.00 cr.

Triveni Structurals Ltd. (TSL) was incorporated in July, 1965. The company is primarily engaged in the manufacture of heavy steel structural products, such as tall towers and mast for power transmission, communication and T.V. broad-casting, hydromechanical equipment, pressure vessels etc. The company became a subsidiary of BYNL in April, 1987. The company became sick and was referred to BIFR. BIFR sanctioned revival plan which is under implementation. As per the revival plan, Govt. has released Rs.29.22 cr. as fresh infusion of funds and carried out financial restructuring of Rs. 40.26 cr. The company continues to incur losses in its operations. The progress of implementation of the sanctioned revival plan has been taken up for review. The production during the year 2000-2001 is anticipated to be Rs.15.00 cr.

Tungabhadra Steel Products Ltd. (TSP) became a Govt. company in February, 1967. The company was initially established in April, 1960 as a joint enterprise of the Governments of Karnataka and Andhra Pradesh. The company became a subsidiary of BYNL in April, 1987. The company is engaged in design, manufacture and erection of hydraulic structures, penstocks, building structures, transmission line towers, EOT & gantry cranes, etc. The production of the company is anticipated to be Rs. 40.00 cr. during 2000-2001.

The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation.

Cycle Corporation of India Ltd. (CCIL) was incorporated after nationalisation of Sen Raleigh group of companies in October, 1980. The company has two factories located at Asansol and Kalyani in West Bengal. The company became sick and was referred to BIFR. As no revival proposal emerged, BIFR recorded their opinion in favour of winding up of the company in July 2000.

Hindustan Cables Ltd. (HCL) was set up in 1952 as the first telecommunication cable manufacturing unit in the country. The company has units in Roopnarainpur, West Bengal; Naini, Allahabad, U.P. & Hyderabad, Andhra Pradesh.

The company is engaged in manufacture of a wide range of sophisticated telecommunication cables and wires and is catering to the needs of vital sectors like Railways, Defence, communication etc.

A revival plan of the company was approved by the Govt. which includes reservation of orders from C-DOT and MTNL. Performance of the company has since improved substantially with growth in production from Rs.217 crs. in 1998-99 to Rs.784 crs. in 1999-2000 signifying an increase of 260%. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation. The production of the company during the year 2000-2001 is anticipated to be Rs. 909.81cr.

Heavy Engineering Corporation Ltd. (HEC), Ranchi was incorporated in 31^st December, 1958with the primary objective of achieving self-sufficiency and self-reliance in the field of design and manufacture of equipment and machinery for the Iron and Steel Industry and other core sector industries like, Mining, Metallurgy etc. It has three manufacturing units namely Heavy Machine Building Plant (HMBP), Heavy Machine Tools Plant (HMTP) and Foundry Forge Plant (FFP). The company manufactures a wide range of equipment for steel plants, material handling equipment like wagon tipplers and EOT cranes, heavy machine tools including CNC Machine tools and special purpose machine tools and various types of castings, forgings and rolls etc. The company became sick and was referred to BIFR. BIFR has sanctioned a revival plan in August 1996 which is under implementation. As per the revival plan, Govt. has released Rs.190 cr. and carried out financial restructuring of Rs.371.51 cr. The company’s production during the year 2000-2001 is anticipated to be Rs. 213.55 cr.

HMT Ltd., Bangalore was set up in 1953. The company is engaged in manufacture of Machine tools, Watches, Tractors, Printing machinery, special purpose machines, Presses and Dairy machinery. It has 15 manufacturing units in 9 States.

HMT has two wholly owned subsidiaries viz. HMT (International) Ltd., and HMT (Bearings ) Ltd. and one partly owned subsidiary viz. Praga Tools Ltd., Secunderabad.

The company has been making losses continously for the past few years. A comprehensive turnaround plan of the company has been approved by the Govt. in July, 2000. The major elements of financial and organisational restructuring are ;

• Fresh infusion by Govt. of India to the extent of Rs.395 cr.
• Formation of subsidiaries for Machine Tools & Watch Business Groups.
• Closing 5 unviable units and offering VRS to all employees.
• Conversion of Rs. 39.70 cr. Govt. loan into equity.
• Manpower reduction by 6947 under VRS by 2001-2002.

Implementation of the turnaround plan has already been taken up in hand. The production of HMT during the year 2000-2001 is anticipated to be Rs. 891.58 cr.

Praga Tools Ltd. (PTL), Secunderabad, originally incorporated as a Public Limited Company in May, 1943, became a Central Public Sector Undertaking from 31^st March, 1959. The company was brought under the Ministry of Industry w.e.f. April, 1986 and PTL became a subsidiary of HMT Ltd., in February, 1988 when 51% of the paid share capital of the company was transferred in the name of HMT Ltd.

The company manufactures various types of machine tools viz. CNC cutter & tool grinder, surface grinder, CNC milling machine, thread rolling machine, Jig boring machine and CNC Jig boring machines etc. The company became sick and referred to BIFR. The production during the year 2000-2001 is anticipated to be Rs.11.00 crs.

The company has been referred to the Deptt. of Disinvestment for seeking strategic JV partner.

HMT (Bearings) Ltd. (erstwhile Indo-Nippon Precision Bearings) was established in the year 1964 as a state public sector company. In the year 1981, this company became a central public sector undertaking as a subsidiary of HMT Ltd. The production of the company during the year 2000-2001 is anticipated to be Rs. 47.75 cr.

HMT (I) Ltd. was established in December, 1974 as a trading company for giving greater thrust to exports of the parent company, HMT Ltd. The major items for exports are machine tools, watches and other associated products which are being exported to Africa, USSR, USA, Canada, Australia etc. New strategies are being adopted for penetrating markets of advanced countries like USA by setting up operational/marketing base or making tie-up arrangements with local companies/trading houses. The turnover of the company during the year 2000-2001 is anticipated to be Rs. 55.00 cr.

Instrumentation Ltd., Kota (ILK) was set up in 1964. The company has three manufacturing units at Kota (Rajasthan), Jaipur (Rajasthan) and Palghat (Kerala). It also has a subsidiary namely, M/s Rajasthan Electronics and Instruments Ltd. (REIL) at Jaipur. The company is engaged in manufacture of micro processor based and digital distributed control systems, advanced electronic transmitters, fault tolerant control systems, railway signaling systems, telecommunications etc.

The company became sick and was referred to BIFR. A revival package sanctioned by BIFR in March, 1999 is under implementation. As per revival plan, Govt. has released Rs.66 cr. as fresh infusion of funds and carried out financial restructuring of Rs.42.98 cr. According to the revival scheme, the Company will retain its Kota based manufacturing facilities for telecommunication, discrete control instrumentation products, railway signalling, defence electronics, etc. as a Holding Company. The other product ranges namely, the Digital Distribution Control Systems (DDC) range of instrumentation at Kota, the control Valve range at Palakkad and the Power Electronics (Uninterrupted Power Supply range) at Jaipur are to be restructured as separate Subsidiary Companies/JV formation. The subsidiaries namely the Jaipur unit, DDC unit of Kota and control valves at Palghat have been registered as separate companies. Now, further action of transfer of business, assets of liabilities for holding Co. to these subsidiaries is in process. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation. Bids have been invited seeking expression of interest for offering 51% of the equity. The production of the company during the year 2000-2001 is anticipated to be Rs. 145.00 cr.

Rajasthan Electronics & Instruments Ltd. (REIL) was set up in June 1981 as a Joint Venture of Instrumentation Ltd., Kota and RIICO for manufacture and supply of Electronic Milk Testers (EMT) to various milk plants/dairies, milk chilling centres and village cooperative societies. The company has diversified its product range to include Solar photo voltaic modules/system, Electronic Energy meters and Information technology. The production of the company during the year 2000-2001 is anticipated to be Rs. 21.90 cr.

Mining & Allied Machinery Corporation Ltd. (MAMC), Durgapur was set up in 1965 with Soviet Cooperation to meet the requirements of equipment for various mining industries including coal, copper, zinc, Lignite, iron-ore etc. The company became sick and was referred to BIFR who had issued ‘Show Cause Notice’ in January 1995 for winding up of the company. However, proceedings of BIFR were stayed by the Court. An Expert Group was set up to examine the possibility of revival of the company. Recommendations of the Expert Group were examined and it has been decided to take action for closure of the company and as a safety net provide benefits of VRS under Voluntary Separation Scheme (VSS) to avoid hardship to the workers. Permission for closure has been sought from the ‘appropriate authority’ which is awaited. Benefits under VSS are much higher than the compensation under ID Act, 1947

National Bicycle Corporation of India Ltd. (NBCIL) was incorporated on the 27^th October, 1980 after having taken over the erstwhile undertakings of Hind Cycles Ltd. engaged in the manufacture of bicycles and components. The company has two factories; one is located at Bombay and the other at Ghaziabad (UP). The company has been incurring losses since its inception. The company became sick and was referred to BIFR. BIFR has recommended winding up of the company. An Expert Group set up to examine the possibility of revival has given its recommendations which were examined and it has been decided to take action for closure of the company and provide benefits of VRS under Voluntary Separation Scheme (VSS) to avoid hardship to the workers. Permission of ‘appropriate authority’ for closure has been sought which is awaited. Benefits under VSS are much higher than the compensation under ID Act, 1947.

National Instruments Ltd. (NIL), was incorporated as a PSE in June 1957 after taking over the assets and liabilities of National Instruments Factory, a departmentally run workshop under the then Ministry of Production and Supplies. The company is engaged in the manufacture and trading of various types of Opticals & Opto Electronic Surveying Instruments including Pressure & Vacuum Gauges, Cameras, Gas Meters, etc. together with sophisticated Night Vision devices. The company became sick and was referred to BIFR. BIFR have sanctioned a revival plan of the company in November, 1999 which is under implementation. As per revival plan, Govt. has released Rs.17.96 cr. as fresh infusion of funds. The production of the company during the year 2000-2001 is likely to be Rs. 11.24 cr.

Scooters (India) Ltd. (SIL) was incorporated as a Government of India enterprise in Sept. 1972. At present, three wheelers are manufactured in its factory located in Lucknow. The company became sick and was referred to BIFR. The company has achieved turn around in its performance and posted profits consecutively during the past three years. With the improvement in the performance of the company, it has since came out of the purview of BIFR. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation. The company is likely to achieve a production of Rs. 143.77 cr. in 2000-2001.

Bharat Opthalmic Glass Ltd. (BOGL) was set up in April, 1972 and took over the Ophthalmic Glass Plant at Durgapur from the National Instruments and Ophtalmic Glass Ltd. The company is engaged in manufacture of ophthalmic blanks, flint buttons, optical glass, radiation shielding window (RSW) glass and other special quality optical glasses for the Defence, Nuclear and other sectors. BOGL is meeting partly the traditional demand of optical glass for Defence and is the only company of its kind in the country manufacturing opthalmic & optical glasses. The company became sick and was referred to BIFR. BIFR had recommended winding up of the company in February, 1996. Following the appeal filed by Employees’ Union in AAIFR, the case was remanded back to BIFR who directed the OA to prepare a revival scheme. An Expert Group set up to examine possibility of revival of the company recommended for consideration of the revival plan submitted by the management. Revival plan has been referred to OA and BIFR. The production of the company during the year 2000-2001 is anticipated to be Rs. 4.43 cr.

Cement Corporation of India Ltd. (CCI) was established in January, 1965. It has 10 operating units spread over 7 States/Union Territories, located in Mandhar, Akaltara and Nayagaon in MP; Kurkunta in Karnataka; Bokajan in Assam; Rajban in HP; Adilabad and Tandur in AP; Charkhi Dadri in Haryana and Delhi Grinding unit in Delhi.

The performance of CCI has been adversely affected due to severe liquidity crunch and infrastructural constraints particularly related to power shortage. The company became sick and was referred to BIFR. BIFR has directed the OA to appoint a merchant banker to explore the sale of units individually or collectively. The production of the company during the year 2000-2001 is anticipated to be Rs. 67.39 cr.

Hindustan Paper Corporation Ltd. (HPC), incorporated in May, 1970, is engaged in manufacture of paper, paperboards, Craft Paper and newsprint.

HPC is a Holding company and has 3 subsidiaries and two major integrated pulp and paper mills under its control. These are :

Subsidiaries :

1. Hindustan Newsprint Ltd. (HNL)
2. Mandya National Paper Mills Ltd. (MNPM)
3. Nagaland Pulp & Paper Company Ltd. (NPPC).

1. Nagaon Paper Mills (NPM)
2. Cachar Paper Mills (CPM)

The production of the company (NPM and CPM) during the year 2000-2001 is likely to be Rs. 424.14 cr.

Mandya National Paper Mills Ltd. (MNPM) was incorporated in the private sector in 1957. After it became sick, HPC took over the management of this mill in January, 1974 as a result of the tripartite agreement between Government of Karnataka, HPC & MNPM. HPC holds 97.8% of equity share capital and entire preference shares. The company became sick and was referred to BIFR. Karnataka High Court have since pronounced winding of the company on 20.10.2000.

Nagaland Pulp & Paper Company Ltd. (NPPC) is a subsidiary of Hindustan Paper Corporation (HPC). HPC holds 95% of the equity shares and the Government of Nagaland holds 5%. The company which came out of the purview of BIFR due to financial restructuring again became sick as the revival scheme could not be put into operation due to law and order problem, lack of infrastructure and absence of banking facilities. Govt. has communicated its stand to BIFR that it will accept any decision of BIFR including winding up. In the meanwhile, on NPPC’s request BIFR has asked the company to prepare a revival plan and directed OA to submit a report. There is no production activity in the Plant.

Hindustan Newsprint Ltd. (HNL) was originally started as a unit of HPC. Subsequently this unit was converted into a wholly owned subsidiary of HPC in August, 1983. This mill having annual capacity of 1 lakh MT is located in the State of Kerala and is engaged in the production of newsprint. The company has undertaken a scheme for establishing a De-inking Plant at a cost of R.52.20 crs. This is likely to improve the financial health of the company and reduce dependence on forest resources. The production during the eyar 2000-2001 is anticipated to be Rs. 255.45 cr.

Hindustan Photo Films Manufacturing Company Ltd. (HPF) was established in 1960 with the objective of ensuring regular supply of raw cine films to the motion picture industry, X-ray films for health services and Defence Forces and special photographic materials for photographers. The company has two manufacturing plants, the main factory at Ootacamund and a plant at Ambattur near Madras. HPF started production in 1967. The company undertakes both integrated production and jumbo conversion. The products manufactured by integrated production are cine films positive (black & white), cine films sound negative, medical X-ray films, photographic paper and amateur roll film (black and white). The company has set up a project for manufacturing of 12 millon sq. metres of polyester based Medical X-Ray, Industrial X-Ray and Graphic arts films in technical collaboration with Dupont of USA. The company is sick and is under reference to BIFR.

Hindustan Salts Ltd. (HSL), set up in 1959, is engaged in the production of common salt and salt-based chemicals at its three units located at Kharaghoda (Gujarat), Mandi (HP) and Ram Nagar (UP). The company is sick and referred to BIFR. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation. Its production during the year 2000-2001 is anticipated to be Rs. 5.74 cr.

Sambhar Salts Ltd. (SSL) is a subsidiary of Hindustan Salts Ltd. (HSL). The paid up capital of the company is Rs.1 crore, 60% of which has been subscribed by HSL and balance 40% by the Government of Rajasthan. The company is producing salt, both for edible and industrial use, and salt based chemicals. The company has developed market for mother liquor called bitterns left over after production of salt. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation. The production of the company during the year 2000-2001 is likely to be Rs. 5.70 cr.

NEPA Ltd. (NEPA), formerly, the National Newsprint & Paper Mills Ltd. was initially set up in 1947 in private sector. Later on, in October, 1949, its management was taken over by MP Government (then Central Provinces & Berar). Central Govt. acquired the controlling interest in 1959 by conversion of loans into equity and it became a central PSU. The company produces Newsprint and paper. The company became sick and was referred to BIFR. Recommendations of the Disinvestment Commission were considered and the Govt. has approved financial restructuring, VRS etc. apart from strategic sale of 51% to 100% of equity. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation.

The production during the year 2000-2001 is anticipated to be Rs. 149.40 cr.

Rehabilitation Industries Corporation Ltd. (RIC), Calcutta, was established in April 1959. The primary objective of the Undertaking was rehabilitation of displaced persons from erstwhile East Pakistan (now Bangladesh), Sri Lanka, etc. by giving financial assistance to industrial units mainly in private and cooperative sector. The thirteen (13) production units of the company comprise Fruit Products Division, Engineering Division, Leather Division, Textile Division and Project Division with activities ranging from general engineering, coal handling projects, textiles including silk etc.

Disinvestment Commission to whom the company was referred recommended discontinuance of operations and offering a suitable VRS package to the employees. The company was also referred to an ‘Expert Group’ for examining the possibility of revival. Recommendations of the ‘Expert Group’ were examined and it was decided to take action for closure of the company and as a safety net provide benefits of VRS under Voluntary Separation Scheme (VSS) to avoid hardship to the employees. Benefits under VSS are much higher than the compensation under ID Act, 1947. Permission has been granted by the ‘appropriate authority’ for the closure of the company.

Tannery & Footwear Corporation of India Ltd. (TAFCO), Kanpur was set up by the Government in 1969 with the objective of taking over the business of sick units, viz. Cooper Allen & North-West Tannery of the British India Corporation Ltd. to protect employment of persons engaged in this Unit and also in the small and ancillary industries supplying raw materials to these Units.

The company has been manufacturing special purpose shoes for various industrial sectors, such as Oil, Steel, Coal, etc. The company was declared sick and was recommended for winding up by BIFR to Allahabad High Court vide its order dated 18^th August, 1998.

The company was also referred to an ‘Expert Group’ to examine the possibility of revival. Recommendations of the Expert Group had been examined and it was decided to take action for closure of the company and as a safety net provide benefits of VRS under Voluntary Separation Scheme (VSS) to avoid hardship to the employees. Benefits under VSS are much higher than the compensation under ID Act, 1947. Permission for closure, has been sought from the ‘appropriate authority’, which is awaited.

 TYRE CORPORATION OF INDIA LTD.

Tyre Corporation of India Ltd. was incorporated on 14^th February, 1984 in which the nationalised undertakings of two sick companies, namely, M/s Incheck Tyres Ltd. and M/s National Rubber Manufacturers Ltd. were vested on the 5^th March, 1984. It has three operating units viz. (1) Tyre Division at Kankinara, (2) Industrial Rubber Products Division at Tangra and (3) Reclaimed Rubber Unit at Kalyani (West Bengal). The production line covers Automobile Tyres & Tubes, Nylon Conveyor Belts, Hoses, Vee and Fan Belts etc. A Modernisation-cum-expansion project at Kankinara at a cost of Rs.125 crs. for the manufacture of 6.31 lakh tyres and tubes per annum in technical collaboration with Techno Export of Czechoslovakia was subsequently set up. The company became sick and was referred to BIFR. Govt. has approved ‘in principle’ financial and capital restructuring of the company for the purpose of exploring possibilities of JV/strategic sale. BIFR have given directions to OA for change in the management of TCIL by inviting offers for take over/leasing, amalgamation/merger. The production during the year 2000-2001 is likely to be Rs. 106.69 cr.

Bharat Leather Corporation Ltd. (BLC) was set up in March, 1976. The company performs functions which are promotional and developmental besides undertaking commercial activities like procurement and marketing of leather goods, leather footwear etc.

The company is involved in manufacture of shoes in its Precision Shoe lasts factory at Agra and Industrial and safety shoes in Package Assistance Scheme (PAS) at Agra. Under the scheme, all the production facilities and inputs are provided by the Corporation to the artisans along with complete marketing support. The gross receipt during the eyar 2000-2001 is anticipated to be Rs. 2.19 cr. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation. In the meanwhile, all employees of the company have opted for VRS. Their applications are under consideration of the Govt.

Engineering Projects (India) Ltd. (EPI) is a premier turnkey contracting company incorporated in the year 1970. The company’s field of operation is extensive and includes projects relating to civil and structural engineering, material handling, metallurgical, petrochemical, environment and pollution control etc.

The turnover of the company during the year 2000-2001 is anticipated to be Rs. 207.21 cr.

The National Industrial Development Corporation Ltd. (NIDC) was established by the Government in 1954. The company is providing consultancy services in the field of Civil Engineering Projects, Industrial townships & urban development, water supply & treatment, Restructuring, Technology upgradation, Industrial Projects and development of Computerised Management Information System.

The services of NIDC have been utilised by about 40 developing countries and international organisations. The company is facing acute shortage of orders. Marketing efforts are being directed to secure business as also diversify into new sectors offering potential. The company has been referred to the Deptt. of Disinvestment for undertaking Disinvestment/Joint Venture formation. The turnover of the company during the year 2000-2001 is likely to be Rs. 14.85 cr.

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