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In Indian law, industrial sickness is a category for severely underperforming, loss-making industrial companies.
Definition edit
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 edit
- ^ "Sick Industrial Companies (Special Provisions) Act, 1985" (PDF). Legislative Department, Government of India.
- Sick Industrial Companies (Special Provisions) Act, 1985, http://legalpundits.com/Content_folder/SICKA24092008.pdf
- https://www.scribd.com/doc/19150346/Industrial-Sickness-of-India
- An article on Industrial Sickness from S. Murlidharan, http://www.thehindubusinessline.in/2004/07/15/stories/2004071500041100.htm
Further reading edit
- 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