| Sections |
Sick Industrial Companies (Special Provisions) Act, 1985 |
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Preamble |
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CHAPTER I: PRELIMINARY |
| 1. |
Short title, extent, commencement and application |
| 2. |
Declaration |
| 3. |
Definitions |
| 4. |
Establishment of Board |
| 5. |
Constitution of appellate authority |
| 6. |
Term of office, conditions of service, etc. of Chairman and other members |
| 7. |
Removal of members from office in certain circumstances |
| 8. |
Secretary, officers and other employees of Board or appellate authority |
| 9. |
Salaries, etc. be defrayed out of the Consolidated Fund of India |
| 10. |
Vacancies, etc. not to invalidate proceedings of Board and appellate authority |
| 11. |
Members and staff of Board and appellate authority to be public servants |
| 12. |
Constitution of Benches of Board or appellate authority |
| 13. |
Procedure of Board and appellate authority |
| 14. |
Proceedings before Board or appellate authority to be judicial proceedings |
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CHAPTER III : REFERENCES, INQUIRIES AND SCHEMES |
| 15. |
Reference to Board |
| 16. |
Inquiry into working of sick industrial companies |
| 17. |
Powers of Board to make suitable order on the completion of inquiry |
| 18. |
Preparation and sanction of schemes |
| 19. |
Rehabilitation by giving financial assistance |
| 19A. |
Arrangement for continuing operations, etc. during inquiry |
| 20. |
Winding up of sick industrial company |
| 21. |
Operating agency to prepare complete inventory, etc. |
| 22. |
Suspension of legal proceedings, contracts, etc. |
| 22A. |
Direction not to dispose of assets |
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CHAPTER IV: PROCEEDINGS IN CASE OF POTENTIALLY SICK INDUSTRIAL COMPANIES, MISFEASANCE PROCEEDINGS, APPEALS AND MISCELLANEOUS |
| 23. |
Loss of fifty per cent net worth by industrial companies |
| 23A. |
Proceedings on report, etc. of loss of fifty per cent net worth |
| 23B. |
Power of Board to call for periodic information |
| 24. |
Misfeasance proceedings |
| 25. |
Appeal |
| 26. |
Bar of jurisdiction |
| 27. |
Delegation of powers |
| 28. |
Returns and information |
| 29. |
Power to seek the assistance of Chief Metropolitan Magistrate and District Magistrate |
| 30. |
Protection of action taken in good faith |
| 31. |
Saving of pending proceedings |
| 32. |
Effect of the Act on other laws |
| 33. |
Penalty for certain offences |
| 34. |
Offences by companies |
| 35. |
Power to remove difficulties |
| 36. |
Power to make rules |
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THE SCHEDULE : DECLARATION OF FIDELITY AND SECRECY |
