Section 21 in The Sick Industrial Companies (Special Provisions) Act, 1985
21. Operating agency to prepare complete inventory, etc .-Where, [for the proper discharge of the functions of the Board under this Act], the circumstances so require, the Board may, through any operating agency, cause to be prepared-
(a)with respect to [a company] [ Substituted by Act 12 of 1994, Section 11, for " an industrial company" (w.e.f. 1.2.1994).], a complete inventory of-(i)all assets and liabilities of whatever nature;(ii)all books of account, registers, maps, plans, records, documents of title or ownership of property and all other documents of whatever nature relating thereto;(b)a list of shareholders and a list of creditors showing separately in the list of creditors, the secured creditors and the unsecured creditors;(c)a valuation report in respect of the shares and assets in order to arrive at the reserve price for the sale of a part or whole of the industrial undertaking of the company or for fixation of the lease rent or share exchange ratio;(d)an estimate of reserve price, lease rent or share exchange ratio; and(e)pro forma accounts, where no up-to-date audited accounts are available.
