Dear Frnds
I have query regarding SICA.
what are the provisions/ Criteria for a Company to come out of BIFR Purview ( Apart from Positive Net Worth Criteria).
Pls. reply as early as possible
With Regards
Navneet
Menu
BIFR query
Replies (4)
Hi,
This is to inform you that recently there has been amendment in the provisions pertaining to sick companies and thus SICA has been repealed and all the provisoins pertaining to sick companies are duly trfd to companies act and thus monitoring authority is now on NCLT and BIFR will get wind up soon.
This is to inform you that recently there has been amendment in the provisions pertaining to sick companies and thus SICA has been repealed and all the provisoins pertaining to sick companies are duly trfd to companies act and thus monitoring authority is now on NCLT and BIFR will get wind up soon.
hi
for your information NCLT is not yet constituted because of Madras High Court judgement.
u may get this information from company secretary final book module 5 corporate restructure.
Thanks
for your information NCLT is not yet constituted because of Madras High Court judgement.
u may get this information from company secretary final book module 5 corporate restructure.
Thanks
Hi,
I just wanted to know that whether the promoter of the company which is under BIFR and of which rehabilation scheme is yet to approve, can sell their entire stake..
Please reply ASAP.
Regards,
Vikram Singh
If the company has just made an application befiore BIFR and no order is made declaring the company as SICK & Unless there is a specific order by BIFR, under Sec.22 A of SICA act, restraining the company and its directors not to dispose of shares and assets and change in the managemnet of the company, a promoter can sell the entire stakes. There is no bar on saleor transfer.
Recent Topics :
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
Related Topics :
CAclubindia
