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[Cites 0, Cited by 0] [Section 2(3)] [Section 2] [Entire Act]

State of Rajasthan - Subsection

Section 2(3)(q) in The Rajasthan Sales Tax/Central Sales Tax Deferment Scheme for Industries, 1998

(q)"Sick Industrial Unit" means-
(i)an industrial unit which has incurred cash losses in the two complete and consecutive financial years immediately preceding the commencement of this Scheme or during the operative period thereof and is likely to continue to incur cash losses in the next financial year and has an erosion on account of cumulative cash losses to the extent of 50% or more of its net worth, and being potentially viable is taken up by a Central or State level financial institution or a bank, under a programme of rehabilitation.