Sick Industrial Companies (Special Provisions) Act, 1985

Section - 1 - Short title, extent, commencement and application

---

Section - 2 - Declaration

---

Section - 3 - Definitions

---

Section - 4 - Establishment of Board

---

Section - 5 - Constitution of Appellate Authority

---

Section - 6 - Term of office, conditions of service, etc., of Chairman and other Members

---

Section - 7 - Removal of Members from office in certain circumstances

---

Section - 8 - Secretary, officers and other employees of Board or Appellate Authority

---

Section - 9 - Salaries, etc., to be defrayed out of the Consolidated Fund of India

---

Section - 10 - Vacancies, etc., not to invalidate proceedings of Board and Appellate Authority

---

Section - 11 - Members and staff of Board and Appellate Authority to be public servants

---

Section - 12 - Constitution of Benches of Board or Appellate Authority

---

Section - 13 - Procedure of Board and Appellate Authority

---

Section - 14 - Proceedings before Board or Appellate Authority to be judicial proceedings

---

Section - 15 - Reference to Board

---

Section - 16 - Inquiry into working of sick industrial companies

---

Section - 17 - Powers of Board to make suitable order on the completion of inquiry

---

Section - 18 - Preparation and sanction of schemes

---

Section - 19 - Rehabilitation by giving financial assistance

---

Section - 19A - Arrangement for continuing operations, etc., during inquiry

---

Section - 20 - Winding up of sick industrial company

---

Section - 21 - Operating agency to prepare complete inventory, etc

---

Section - 22 - Suspension of legal proceedings, contracts, etc

---

Section - 22A - Direction not to dispose of assets

---

Section - 23 - Loss of fifty per cent net worth by industrial companies

---

Section - 23A - Proceedings on report, etc., of loss of fifty per cent net worth

---

Section - 23B - Power of Board to call for periodic information

---

Section - 24 - Misfeasance proceedings

---

Section - 25 - Appeal

---

Section - 26 - Bar of jurisdiction

---

Section - 27 - Delegation of powers

---

Section - 28 - Returns and information

---

Section - 29 - Power to seek the assistance of Chief Metropolitan Magistrate and District Magistrate

---

Section - 30 - Protection of action taken in good faith

---

Section - 31 - Saving of pending proceedings

---

Section - 32 - Effect of the Act on other laws

---

Section - 33 - Penalty for certain offences

---

Section - 34 - Offences by companies

---

Section - 35 - Power to remove difficulties

---

Section - 36 - Power to make rules

---

The Schedule - DECLARATION OF FIDELITY AND SECRECY

---

To read the full act/ section offline, download the app from Google Play store