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“I congratulate the Railway Minister for her efforts. The companies will get a new lease of life now that they have been taken over by the Railway Ministry,” said Sen, while speaking at a programme organised by the West Bengal State Cooperative Bank launch PAN Cards and DEMAT accounts.
In her Railways Budget, Banerjee had proposed the takeover of Burn Standard and Braithwaite, following which the case was examined by the Board for Reconstruction of Public Sector Enterprises (BPRESE). The proposal was then referred to the Union Cabinet and will now be examined by the Board for Industrial & Financial Reconstruction (BIFR).
Sen added that the complications revolving around the Mining and Allied Machinaries Corporation (MAMC) have been sorted out and the company has been taken over by three nationalised companies — Bharat Earth Movers, Coal India and DVC. Durgapur-based heavy engineering company MAMC was acquired by three profit making PSUs on Friday and Sen said the Left Front government is happy with the acquisition. MAMC shut down in 2002 and its governing council was dissolved in 2003.
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