Respected Friends,
Pls. answer the question - is Sick Industrial companies act still exist or applicable to companies or not ?
Thanks
Debashis
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Sick Industrial Companies Act.
Replies (1)
The Companies ( Second Amendment) Act, 2002 has incorporated the Provision relating to Revival & Rehabiliation of Sick Industrial Companies Act.
After that Sick Industrial Companies ( Special Provisions) Act, 2003 came into force, but as this act was the mere expansion of the earlier act, Now the provision related to sick companies are followed under the companies act, 1956.
Section 424A to 424L is now providing the SICA Act provisions.
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