Section 3(a) in The Industries (Development And Regulation) Act, 1951
(a)"Advisory Council "means the Central Advisory Council established under section 5;(aa)[ "ancillary industrial undertaking "means an industrial undertaking which, in accordance with the proviso to sub-section (1) of section 11-B and the requirements specified under that sub-section, is entitled to be regarded as an ancillary industrial undertaking for the purposes of this Act;](ab)[] [ Cls. (aa) and (ab) relettered as Cls. (ab) and (ac) by Act 4 of 1984, Section 2 (w.e.f. 12.1.1984).] "current assets "means bank balances and cash and includes such other assets or reserves as are expected to be realised in cash or sold or consumed within a period of not more than twelve months in the ordinary course of business, such as, stock-in-trade, amounts due from sundry debtors for sale of goods and for services rendered, advance tax payments and bills receivable, but does not include sums credited to a provident fund, a pension fund, a gratuity fund or any other fund for the welfare of the employees, maintained by a company owning an industrial undertaking;(ac)[] [Cls. (aa) and (ab) relettered as Cls. (ab) and (ac) by Act 4 of 1984, Section 2 (w.e.f. 12.1.1984). ] "current liabilities "means liabilities which must be met on demand or within a period of twelve months from the date they are incurred; and includes any current liability which is suspended under section 18-FB;
