Section 2(f) in The Companies (Second Amendment) Act, 2002
(f)after clause (46A), the following clauses shall be inserted, namely:-' (46AA)" sick industrial company" means an industrial company which has-(i) the accumulated losses in any financial year equal to fifty per cent. or more of its average net worth during four years immediately preceding such financial year; or(ii)failed to repay its debts within any three consecutive quarters on demand made in writing for its repayment by a creditor or creditors of such company;(46AB) " State level institution" means any of the following institutions, namely:-' (a) the State Financial Corporations established under section 3 or section 3A and institutions notified under section 46 of the State Financial Corporations Act, 1951 (63 of 1951 );
