Companies Act, 2013 (18 of 2013); (iii) a company shall be a subsidiary of another company, if such other company holds more than half ... amount of profits of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which
companies. 2. The Committee examined Companies Act, 1956 and also other laws having a bearing on the subject such as Sick Industrial Companies (Special Provisions ... company which has been declared sick or is under liquidation; (b) protection of the assets of sick companies; (c) revival and rehabilitation of sick companies
Companies (Special Provisions) Act, 1985 does not apply to Government companies. In view of this, industrial companies in the public sector which are sick ... provisions with a view to securing the timely detection of sick and potentially sick companies owning industrial undertakings, the speedy determination by a Board
under this section in relation to an establishment which is a sick industrial company and in respect of which a scheme for rehabilitation has been ... Industrial and Financial Reconstruction established under section 4 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), subject to such terms
provisions with a view to securing the
timely detection of sick and potentially sick companies
owning industrial undertakings, the speedy deter-
1004
mination ... provisions with a
view to securing the timely detection of sick and
potentially sick companies owing industrial undertakings,
the speedy determination by a Board
company; (xb) any transfer by way of conversion of preference shares of a company into equity shares of that company; (xi) any transfer made ... company) of a capital asset being membership of a recognised stock exchange to a company in exchange of shares allotted by that company
company for the assessment year commencing from the assessment year relevant to the previous year in which the said company has become a sick industrial ... company under sub-section (1) of section 17 of the Sick Industrial Companies (Special Provisions) Act, 1985 ( 1 of 1986 ) and ending with the assessment
Sick Industrial Companies (Special Provisions) Act, 1985
15. Reference to Board .-(1) Where an industrial company has become a sick industrial company, the Board ... audited accounts of the company for the financial year as at the end of which the company has become a sick industrial company, make
under this section in relation to an establishment which is a sick industrial company and in respect of which Scheme for rehabilitation has been sanctioned ... Industrial and Financial Reconstruction established under section 4 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), subject to such terms
sick industrial company with any other company; or (ii) any other company with the sick industrial company; (hereafter in this section, in the case ... binding on the sick industrial company and the transferee company or, as the case may be, the other company and also on the shareholders, creditors
