End of the line for Bharat Wagon

Railways may move Cabinet to shut the PSU in 3 months

Bharat Wagon & Engineering Co (BWEL), created in 1978 after takeover of two private companies, is on the way to be shut down. Indian Railways (IR) is likely to move a Cabinet note to have it closed in three months
"For the past one year or so, employees were on strike here. They might get a higher compensation than under the voluntary retirement scheme," said an official source.
 
In September 2016, the Cabinet Committee on Economic Affairs had given its approval for initiating the process of winding-up of Hindustan Diamond Co, an equal joint venture of the Union