BCC Fuba India (BCC) was promoted by D R Bhagat and his associates in collaboration with Fuba Hans Kolbe & Co, and DEG, both of Germany. Fuba, Germany, is the single largest manufacturer of professional grade printed circuit boards (PCBs) in Europe. DEG is a German financial company established for investment in developing countries. Together, these two collaborators hold about 20% of the company's equity. BCC Fuba manufactures professional grade PCBs -- multilayer boards (cap.: 3000 sq mtr pa), double sided (cap.: 14,600 sq mtr pa) and single sided (cap.: 5800 sq mtr pa). As on 31 Mar.'96, the company's net worth had eroded more than 50% of the peak net worth of the company. During the past five years, the company was making losses due to the violation of 75% buy-back agreement by BCC's foreign collaborator; low demand for indigenous PCBs and the severe competition from the competitors and various other reasons. As a result it was declared a sick company and was referred to BIFR.