(a) whether there is any proposal to revive Tyre Corporation of India
Limited and Jessop and Company Limited;
(b) if so, the details thereof and the time by which these are likely
to be revived; and
(c) if not, the reasons therefor?
(a) whether there is any proposal to revive Tyre Corporation of India
Limited and Jessop and Company Limited;
(b) if so, the details thereof and the time by which these are likely
to be revived; and
(c) if not, the reasons therefor?
MINISTER OF STATE FOR HEAVY INDUSTRIES & PUBLIC ENTERPRISES (DR. VALLABH BHAI KATHIRIA)
(a) to (c): On the issue of revival of TCIL, Government of India (GOI) has
conveyed its views to BIFR. BIFR has now invited offers for a change in
management.
As regards, Jesssop, BIFR, vide its order dated 19.9.2000
declared that the revival scheme of Jessop sanctioned on 6.5.1998 had failed
and directed the Operating Agency i.e. SBI to issue an advertisement for
change in management giving 12 weeks time for submission of offers. BIFR
also stated that GOI, as promoter, can submit a scheme for rehabilitation of
Jessop in response to the advertisement, with or without a joint venture
partner. Government had already initiated action for a joint venture
formation on 30.3.2000. Therefore, an appeal was filed in AAIFR against the
order of BIFR on 6.11.2000, which is pending.