Over the years four of the above companies have shut down their businesses and are no longer in existence. Only two of the business units are in existence and are running as on date viz., Cawnpore Woollen Mills Branch, Cawnpore, and New Egerton Woollen Mills Branch, Dhariwal, Punjab

Rehabilitation Scheme of B.I.C. was approved by BIFR in Feb. 2008. As per direction of cabinet the M.D.R.S. was reassessed by I.F.C.I. & W.R.A. and forwarded to BRPSE for its approval. The scheme was approved by BRPSE on 28th July, 2010. It is expected that the cabinet approval and other formalities will be completed shortly and thereafter production activities shall resume in full swing.

The Company changed hands from British interests to the Indian business families of MUNDRAS and then BAJORIAS between 1955 and 1962.

In February 1963 the management of BIC got vested with an elected Board with the approval of Central Government as well as UTI, LIC and Banks. In June, 1981, BIC became a Government Company through an Ordinance promulgated by the Government of India. It is a Public Sector undertaking, under the control of Ministry of Textiles, Government of India, and is the only P.S.U. manufacturing Woollen Textiles in the country. On the basis of its financial position, the company was referred to the Board for Industrial and Financial Reconstruction (BIFR) on 31st March,1991.