Revival of Sick Units: Law and Policy

Contents: Preface. Abbreviations. Table of cases. 1. Sick units: Meaning and nature. 2. Revival of sick units: evolution. 3. The Sick Industrial Companies Act: Nature, scope and authorities. 4. The sick Industrial Companies Act: Revival and rehabilitation. 5. The Sick Industrial Companies Act: Appeal and other miscellaneous provisions. 6. The Companies Act: Revival and rehabilitation of sick units. 7. Sick unit and other laws.  8. Corporate rescue: UK and USA. 9. Summary. Bibliography. Index.

This book relates to the Corporate Insolvency Law.  There was no special law in India to deal with Corporate Insolvency till 1985. Therefore, the Government of India enacted the Sick Industrial Companies (Special Provisions) Act, 1985, to address the issue of growing industrial sickness.

The present book contains the journey of revival process of sick units from the year 1947 to the Companies Bill 2012. The topics considered in this wide ranging journey include nature of sick units; causes of corporate failures; evolution of sick units rescue procedures; rescue procedures under SICA and the Companies Act; the effect of SARFASI Act 2002 and State Financial Act 1951 on sick units; and Rescue procedures in UK and USA.