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Closure of Burn Standard Company Limited
April 7 , 2018
2218 days
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- The Union Cabinet has approved closure of Central Public-Sector Enterprise (CPSE) Burn Standard Company Ltd (BSCL) under Ministry of Railways.
- This decision was taken in view of continuous poor physical and financial performance of company for more than decade despite financial assistance and other support from government and low probability of its revival in future.
- BSCL was incorporated in 1976 following nationalization and amalgamation of Burn & Company and Indian Standard Wagon Company Limited under Department of Heavy Industries (DHI).
- The company was engaged in manufacturing and repair of wagons and production of steel.
- Its administrative control was transferred from DHI to Ministry of Railways in 2010 as approved by then Cabinet Committee on Economic Affairs (CCEA).
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