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Bharat Immunologicals and Biologicals Corporation Limited, (BIBCOL) was incorporated in March 1989 as a Public Sector company at Village Chola, Distt. Bulandshahar, U.P., to manufacture Oral Polio Vaccine (OPV) and other immunobiologicals. It is a highly modern manufacturing facility which follows Good Manufacturing Practice (GMP) as specified by WHO and US Federal Standards. The company has been formulating Oral Polio Vaccine (OPV) from imported bulk since January 1996 and about 700 million doses have been supplied to the National Immunization Programme. This includes OPV supplied through UNICEF. The company is making profit in its current operations for last few years. As a result of this it has been possible to achieve a one-time settlement with the financial institutions and banks. It has paid Rs.28.54 crores to financial institutions and banks under the said settlement. The company's net worth has become positive and, therefore, it has been discharged from the purview of the Sick Industrial Companies (Special Provision) Act, 1985 in August 2002. Process of obtaining cabinet approval for financial restructuring of the company to give effect to one time settlement with Banks and Financial Institutions is at advanced stage.
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