Board for Industrial and Financial Reconstruction (BIFR) - Southern Petrochemical Industries Corporation (SPIC) has been referred to the Board for Industrial and Financial Reconstruction (BIFR). The main objective of SICA is to determine sickness and expedite the revival of potentially viable units or closure of unviable units (unit here in refers to a Sick Industrial Company). It was expected that by revival, idle investments in sick units will become productive and by closure, the locked up investments in unviable units would get released for productive use elsewhere.
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