Burn Standard Company Limited (BSCL) is a Public Sector Undertaking (PSU) of the Government of India. Headquartered in Kolkata, India, BSCL is engaged in civil engineering projects and is a subsidiary of Bharat Bhari Udyog Nigam. The company was formed with the merger of two companies — Burn & Company and Indian Standard Wagon, and was nationalised in 1975. In fiscal 2006, the company reported aggregated revenues of 13,727 lakh (US$249.8 million). According to UK based newspaper Independent John Messer, the lead in-house lawyer for US engineering group McDermott International, was back in India again in March 2008. It's a country he and his predecessors have got to know better than anyone would have imagined back in the late 1980s, when the contract was drawn up to build a giant offshore platform for the Mumbai High oil field. For the past 17 years, McDermott has been trying to get paid. In October 2006, Burn Standard, the Indian engineering company that sub-contracted work on the project to McDermott, lost its appeal against a court ruling instructing it to pay the US group $90m (£45m). The money has still to be received.(Ref 3)
Famous quotes containing the words burn, standard and/or company:
“The poor have their fortunes told; the rich burn incense to the Buddha.”
—Chinese proverb.
“Society’s double behavioral standard for women and for men is, in fact, a more effective deterrent than economic discrimination because it is more insidious, less tangible. Economic disadvantages involve ascertainable amounts, but the very nature of societal value judgments makes them harder to define, their effects harder to relate.”
—Anne Tucker (b. 1945)
“I have noticed that doctors who fail in the practice of medicine have a tendency to seek one another’s company and aid in consultation. A doctor who cannot take out your appendix properly will recommend you to a doctor who will be unable to remove your tonsils with success.”
—Ernest Hemingway (1899–1961)