FAILED BRANDS OF ORISSA

KONARK TV- once a house hold name in Orissa. It was a govt. of Orissa undertaking organization two decades ago. It had a capacity to produce 80000 black and white TV and 40000 colour TV. It failed due to mismanagement and entry of foreign players  like ONIDA,L.G,SAMSUNG,AKAI etc into Indian market and another big cause of its failure is due to its high production cost.

OTM- it was serving the needs for three decades and finally shut down due to mishandling of company funds. Closed in 2001 and declared as sick in 2003. During 1950 it was ranked among the top cotton mills in india. In 1981 it was taken by govt. of Orissa. It was a 130 crore worth organization and it incurred losses due to poor management.

IDCOL CEMENT-The board for industrial and financial reconstruction has declared state-owned IDCOL Cements Limited sick on erosion of its networth. IDCOL cement accumulated losses of Rs 136.55 crore against Rs 88.5 crore of networth.  The board noted that there was no full time managing director for the company and lack of professionalism and deficiency in management was the main reason for the failure of IDCOL.

SHIVANI VANASPATI-  It was engaged in manufacture of Vanaspati which has a good market in 

the State of Orissa as well as outside the State. Failed due to tough competition from other players and it had to pay huge tax due to bank loans.

KALINGA AIRLINES- founded in 1946 by Biju Patnaik. It was a private airline in India and it merged with Indian airlines 1953. In kalinga airlines mainly DAUGLAS C-47A, DAUGLAS C-47 and DAUGLAS –DC3 aircrafts were used and in between 1951 to 1965, eight accidents were happened by kalinga airlines due to poor aircrafts. Failed due to poor engineered aircrafts and continuous accidents.