Court : Kolkata Appellate
..... bjc was declared a sick industrial company in terms of section 3(1)(o) of sica in the hearing held on june 7, 2006 and the 5 industrial development bank of india (hereafter the idbi) was appointed as operating agency under section 17(3) thereof to examine viability of formulating a rehabilitation scheme, if feasible. ..... a company formed and registered under any of the previous companies laws specified below (a) any act or acts relating to companies in force before the indian companies act, 1866 and repealed by that act; (b) the indian companies act, 1866; (c) the indian companies act, 1882; (d) the indian companies act, 1913; (e) the registration of transferred companies ordinance, 1942; and (f) any law corresponding to any of the acts or the ordinance aforesaid and in force- ****** for the purpose of guidance on how and in what manner ..... rajib chatterjee reported in (2009) 3 scc 709 in which an advertisement inviting applications for grant of liquor licence from unemployed youth was construed and it was held that although the respondents were earning some money for bare sustenance, the same would not disentitle them to take part in the ..... industrial health of the country, revival of the sick industry and enabling it to stand on its own feet, stemming unemployment, etc. ..... in such a case, option for reviving the sick company would be closed, the workers would become unemployed, the creditors would not get their dues, the financial institutions would be unable to recover their loans, etc. .....
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