Nilachal Refractories Ltd

Nilachal Refractories Ltd

Incorporated in June 1977 Nilachal Refractories Ltd (NRL) (Formerly known Ipitata Refractories Ltd. (IRL)) is promoted by Alok Prakash. The Company is primarily engaged in the business of Refractories items.The manufacturing capacity of Steel have increased by 20 Million Tonnes in the State of Orrisa. The Quality of Bogie Bottom Pouring refractories for making cleaner steel had improved a lot by having a joint venture project with TISCO.Nilachal Refractories has become a Sick Company as per the provisions of SICA and has made reference to BIFR in November2001. The board is yet to take up the case for hearing.Pursuant to Hon'ble BIFR Order dated 6th December 2005 'IJ Group' Kolkata had taken over the Management of the Company w.e.f. 19.12.2005. After taking over the Management of the Company the new Management implemented the Rehabilitation Scheme as sanctioned by Hon'ble BIFR. Renovation work at Company's works at Dhenkanal including repairs to Plant and machinery was completed and the Company started its operations towards end of the financial year. As per the Order of the Hon'ble BIFR Tata Group the erstwhile Promoters transferred their shareholding of 51.8% held in NRL in favor of New Promoters.