Section 49(6) in The Industrial Reconstruction Bank Of India Act, 1984
(6)During the period of operation of the notified order made under sub-section (1), the Central Government may, if satisfied that it is necessary so to do in the public interest,-(a)for the reconstruction, revival or rehabilitation of an assisted industrial concern; or(b)for the proper management of the assisted industrial concern; or(c)for scaling down the liabilities of the assisted industrial concern, where the financial condition and other circumstances of the assisted industrial concern are such that such scaling down in necessary, authorise the Reconstruction Bank to prepare as scheme-(i)for the reconstruction, revival or rehabilitation of the assisted industrial concern; or(ii)for scaling down the liabilities of the assisted industrial concern; or(iii)for the amalgamation of the assisted industrial concern with any other industrial concern (referred to in this section as the "transferee industrial concern").
