Industrial sickness explained
In Indian law, industrial sickness is a category for severely underperforming, loss-making industrial companies.
Definition
The Sick Industrial Companies (Special Provisions) Act, 1985 defines a "sick industrial company" as "an industrial company (being a company registered for not less than five years) which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth".[1]
References
- Sick Industrial Companies (Special Provisions) Act, 1985, http://legalpundits.com/Content_folder/SICKA24092008.pdf
- https://www.scribd.com/doc/19150346/Industrial-Sickness-of-India
- News: Murlidharan . S. . Sickening definition of sickness . 5 July 2024 . Business Line . 15 July 2004 . https://web.archive.org/web/20191203161321/https://www.thehindubusinessline.com/todays-paper/tp-others/tp-accountancy/article28869522.ece . 3 December 2019.
Further reading
- Industrial Sickness, According to information compiled by. RBI from scheduled commercial banks, as of March 31, 2001. http://indiabudget.nic.in/es2001-02/chapt2002/chap79.pdf
- F.M. Scherer and David Ross, Industrial Sickness in Private and Joint Sectors, http://isid.org.in/pdf/wp4.pdf
Notes and References
- Web site: Sick Industrial Companies (Special Provisions) Act, 1985. Legislative Department, Government of India.
