The Board for Industrial and Financial Reconstruction (BIFR) was an agency of the government of India, part of the Department of Financial Services of the Ministry of Finance. Its objective is to determine sickness of industrial companies and to assist in reviving those that may be viable and shutting down the others. But from 1 December 2016, by an official notification, Government of India dissolved it and all proceedings to be referred to the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) as per provisions of Insolvency and Bankruptcy Code.
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