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Industrial sickness
In India, multi-year major losses in industrial companies From Wikipedia, the free encyclopedia
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In Indian law, industrial sickness is a category for severely underperforming, loss-making industrial companies.
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Definition
The Sick Industrial Companies (Special Provisions) Act, 1985 defines a "sick industrial company" as "an industrial company (being a company registered for not less than five years) which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth".[1]
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