|Definition||:||Board of Industrial and Financial Reconstruction|
|Category||:||Governmental » Departments & Agencies|
What does BIFR mean?
Board for Industrial and Financial Reconstruction (BIFR) was a board set up by the Government of India, in order to tackle the problem of industrial sickness, under the purview of Sick Industrial Companies. It had been established as a quasi-judicial body in the Department of Economic Affairs, Ministry of Finance, for revival and rehabilitation of potentially sick undertakings and for closure/liquidation of non-viable and sick industrial companies.