(English Translation- some error may be there))
The country's largest railway wagon manufacturer, the 'Burn Standard', has gone bankrupt. It has been losing its glory over the last few years. On May 31, it was announced as a bankrupt company. 23 years ago 82 crores. With this interest now, this amount is Rs. 284.26, making the company a bigger hub. At present, the company is unable to afford the raw materials, and the salaries of employees have also failed to pay. No single bank can pay for this loan.
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Law Tribunal recognizes the 'Burn Standard' as a bankrupt company according to the new bankruptcy law. "Selling assets is to get capital, so that all the problems will be solved. We are looking for permission from the Railways, "company chairman Mohammed Adab Alam said.
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In 2010, Railway Minister Mamata Banerjee made an attempt to bring the former glory to the company in Kolkata. The company, which is under heavy industry department, has been brought under the purview of the Railways. But after the resignation of the minister, the company's condition came back. Rs. There is no advance in the sale of assets worth 300 crores. This is why no company is now insecure.