Section 19(4) in The Sick Industrial Companies (Special Provisions) Act, 1985
(4)Where in respect of any scheme consent under sub-section (2) is not given by any person required by the scheme to provide financial assistance, the Board may adopt such other measures, including the winding up of the sick industrial company, as it may deem fit.[19-A. Arrangement for continuing operations, etc., during inquiry.-(1) At any time before completion of the inquiry under section 16, the sick industrial company or the Central Government or the Reserve Bank or a State Government or a public financial institution or a State level institution or a scheduled bank or any other institution, bank or authority providing or intending to provide any financial assistance by way of loans or advances or guarantees or reliefs or concessions to the sick industrial company may make an application to the Board-(a)agreeing to an arrangement for continuing the operations of the sick industrial company; or(b)suggesting a scheme for the financial reconstruction of the sick industrial company.
