Burn Standard Company Limited Explained

Burn Standard Company Limited
Type:Public Sector Undertaking
Location City:Howrah
Location Country:India
Area Served:India
Key People:Mr. Mohammad Asad Alam, Chairman & Managing Director
Industry:transportation
Products:rolling stock
Owner:Government of India

Burn Standard Company Limited (BSCL) is a Public Sector Undertaking (PSU) of the Government of India. Headquartered in Howrah, India, BSCL is engaged mainly in railway wagon manufacturing under the Ministry of Railways. On 4 April 2018, Cabinet approves closure of loss making Burn Standard Company Limited.[1] The company was formed with the merger of two companies – Burn & Company (founded 1781) and Indian Standard Wagon (founded 1918),[2] and was nationalised in 1975. In fiscal 2006, the company reported aggregated revenues of . Subsequently, the company with its two engineering units at Howrah and Burnpur came under the administrative control of Ministry of Railways in September 2010. The refractory unit at Salem, Tamil Nadu, was transferred to Steel Authority of India Limited.

According to UK based newspaper Independent, in March 2008, John Messer, the lead in-house lawyer for US engineering group McDermott International, was still trying to get paid for a contract drawn up in the late 1980s to build a giant offshore platform for the Mumbai High oil field. In October 2006, Burn Standard, the Indian engineering company that sub-contracted work on the project to McDermott, lost its appeal against a court ruling instructing it to pay the US group $90m (£45m). The amount due has already been paid after finalization of the arbitration and initiative taken by the Government of India.[3] [4]

Products and services

Liquidation

On the 4 April 2018, the Government of India approved the liquidation of Burn Standard Company.[5]

See also

References

  1. Web site: Cabinet approves closure of loss making Burn Standard Company Limited - a Central Public Sector Enterprise (CPSE). pib.nic.in. 3 June 2023. 12 February 2019. https://web.archive.org/web/20190212011544/http://pib.nic.in/newsite/PrintRelease.aspx?relid=178402. live.
  2. Web site: Railway Wagons Tank Wagons Steel Structural Castings Coal Ash Plants India Kolkata Calcutta Burn Standard Manufacturers Exporters . 22 October 2013 . https://web.archive.org/web/20131008145153/http://www.burnstandard.com/rti-history.html . 8 October 2013 . dead .
  3. http://dpe.nic.in/survey0506/vol3/62.pdf Financial Statement
  4. Web site: 'It's viewed as a game': Western groups recoil at India's culture of. 30 March 2008. The Independent. 30 March 2008. 22 May 2017. https://web.archive.org/web/20170522065712/http://www.independent.co.uk/news/business/analysis-and-features/its-viewed-as-a-game-western-groups-recoil-at-indias-culture-of-late-payment-802461.html. live.
  5. News: Cabinet approves closure of loss-making Burn Standard Company Ltd. Business Standard India. 4 April 2018. Business Standard. Press Trust of India. 3 June 2023. 10 April 2023. https://web.archive.org/web/20230410214209/https://www.business-standard.com/article/pti-stories/cabinet-approves-closure-of-loss-making-burn-standard-company-ltd-118040401432_1.html. live.

External links

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