The correct answer is: A. 1984.
The Board for Industrial and Financial Reconstruction (BIFR) was established in 1984 by the Government of India under the Sick Industrial Companies (Special Provisions) Act, 1985. The BIFR was set up to provide a mechanism for the rehabilitation of sick industrial companies in India.
The BIFR has the following powers:
- To initiate proceedings for the rehabilitation of sick industrial companies.
- To approve rehabilitation plans for sick industrial companies.
- To order winding up of sick industrial companies.
- To appoint administrators for sick industrial companies.
The BIFR has been instrumental in the rehabilitation of a number of sick industrial companies in India. The BIFR has also been successful in winding up a number of sick industrial companies.
The BIFR has been criticized for its slow pace of work and for its lack of transparency. However, the BIFR has been a valuable tool for the rehabilitation of sick industrial companies in India.
The other options are incorrect because:
- Option B is incorrect because the BIFR was established in 1984, not 1986.
- Option C is incorrect because the BIFR was established in 1984, not 1987.
- Option D is incorrect because the BIFR was established in 1984, not 1989.