Burn Standard Company Limited (BSCL) is a Public Sector Undertaking (PSU) of the Government of India. Headquartered in Howrah, India, BSCL is engaged mainly in railway wagon manufacturing under the Ministry of Railways. On 4 April 2018,The Cabinet approves closure of loss making Burn Standard Company Limited.[1] The company was formed with the merger of two companies – Burn & Company (founded 1781) and Indian Standard Wagon (founded 1918),[2] and was nationalised in 1975. In fiscal 2006, the company reported aggregated revenues of inr 1373000000. Subsequently, the company with its two engineering units at Howrah and Burnpur came under the administrative control of Ministry of Railways in September 2010. The refractory unit at Salem, Tamil Nadu, was transferred to Steel Authority of India Limited.
According to the UK-based newspaper Independent, in March 2008, John Messer, the lead in-house lawyer for the US engineering firm McDermott International, was still seeking payment for a contract originally drawn up in the late 1980s to construct a large offshore platform for the Mumbai High oil field. In October 2006, Burn Standard, the Indian engineering company that had sub-contracted portions of the project to McDermott, lost its appeal against a court ruling ordering it to pay the US firm $90 million (£45 million). The outstanding amount was ultimately paid following the conclusion of arbitration and intervention by the Government of India.[3]