(a) whether BIFR has confirmed a prima facie opinion to wind up five private companies
and State owned Bharat Gold Mines Ltd.;
(b) if so, the details thereof;
(c) whether these companies or State Governments were asked for rehabilitation proposal;
(d) if so, the details thereof; and
(e) the strategy chalked to rehabilitate or protect the interests of workers?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI V. DHANANJAYA KUMAR) :
(a) and (b) The names of the five private companies mentioned in part (a) of the question
have not been specified. However, Board for Industrial and Financial Reconstruction (BIFR)
has reported that winding up notice has been issued by it with regard to M/s Bharat
Goldmines Limited.
(c) and (d) A rehabilitation proposal estimated to cost Rs. 100 crores was submitted
jointly by employees of the Bharat Gold Mines Ltd. The proposal envisaged reliefs,
concessions and huge investments form Government of India and Government of Karnataka.
As the promoters of the company of employees union of the company were not in a position
to bring in required funds as promters` contribution, BIFR directed that a. show-cause
notice for winding up of the company be issued to all concerned. Objections/suggestions
to the showcause notice would be heard on 16.5.2000.
(e) The Rehabilitation of the companies referred to BIFR including protection of the
interest of the workers are dealt with by BIFR in accordance with the well laid down
provisions of Sick Industrial Companies (Special Provisions) Act,1985.