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Sick Industrial Companies (Special Provisions) Act, 1985 Complete Act - Bare Act

StateCentral Government
Year
Act Info:
Preamble1 - SICK INDUSTRIAL COMPANIES (SPECIAL PROVISIONS) ACT, 1985
Chapter I
Section1 - Short title, extent, commencement and application
Section2 - Declaration
Section3 - Definitions
Chapter II
Section4 - Establishment of Board
Section5 - Constitution of Appellate Authority
Section6 - Term of office, conditions of service, etc., of Chairman and other Members
Section7 - Removal of Members from office in certain circumstances
Section8 - Secretary, officers and other employees of Board or Appellate Authority
Section9 - Salaries, etc., be defrayed out of the Consolidated Fund of India
Section10 - Vacancies, etc., not to invalidate proceedings of Board and Appellate Authority
Section11 - Members and staff of Board and Appellate Authority to be public servants
Section12 - Constitution of Benches of Board or Appellate Authority
Section13 - Procedure of Board and Appellate Authority
Section14 - Proceedings before Board or Appellate Authority to be judicial proceedings
Chapter III
Section15 - Reference to Board
Section16 - Inquiry into working of sick industrial companies
Section17 - Powers of Board to make suitable order on the completion of inquiry
Section18 - Preparation and sanction of Schemes
Section19 - Rehabilitation by giving financial assistance
Section19A - Arrangement for continuing operations, etc., during inquiry
Section20 - Winding up of sick industrial company
Section21 - Operating agency to prepare complete inventory, etc.
Section22 - Suspension of legal proceedings, contracts, etc.
Section22A - Direction not to dispose of assets
Chapter IV
Section23 - Loss of fifty per cent, net worth by industrial companies
Section23A - Proceedings on report, etc., of loss of fifty per cent, net worth
Section23B - Power of Board to call for periodic information
Section24 - Misfeasance proceedings
Section25 - Appeal
Section26 - Bar of jurisdiction
Section27 - Delegation of powers
Section28 - Returns and information
Section29 - Power to seek the assistance of Chief Metropolitan Magistrate and District Magistrate
Section30 - Protection of action taken in good faith
Section31 - Saving of pending proceedings
Section32 - Effect of the Act on other laws
Section33 - Penalty for certain offences
Section34 - Offences by companies
Section35 - Power to remove difficulties
Section36 - Power to make rules
Schedule1 - THE SCHEDULE
Amending Act1 - AMENDMENT ACT


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