What does BIFR stands for?

Board of Industrial and Financial Reconstruction

The correct answer is option 1- Board of Industrial and Financial Reconstruction.

BIFR stands for the "Board for Industrial and Financial Reconstruction" in India. It was established in 1987 under the Companies Act, 1956, with the primary objective of providing a framework for the revival and rehabilitation of industrial companies that were facing financial difficulties. The board was responsible for assessing the viability of sick industrial companies and recommending measures for their restructuring, including financial assistance and operational improvements.