Sick Unit definition
Sick Unit means and include a Micro & Small Manufacturing Enterprise so considered and certified by the Directorate of Industries, or Medium Manufacturing Enterprise / LSI Unit so considered by the Board for Industrial and Financial Reconstruction (BIFR) or a Co-operative Unit / Enterprise so certified by the Commissioner of Co-operation, State of Maharashtra.
Sick Unit means an industrial unit declared sick by the Board for Industrial and Financial Reconstruction under the Sick Industries Companies (Special Provision) Act, 1985 / National Company Law Tribunal (NCLT) or by the State Level Committee for micro, small and medium industries headed by the Director of Industries or the High Level Empowered Committee headed by the Chief Secretary for large sector.
Sick Unit means and include an Micro & Small Manufacturing Enterprises so considered and certified by the Directorate of Industries, or Medium Manufacturing Enterprises / LSI Unit so considered by the Board for Industrial and Financial Reconstruction (BIFR) and Co-operative unit’s / Enterprises as certified by Commissioner of Co-operation, State of Maharashtra.
Examples of Sick Unit in a sentence
Sick Unit members who have been quarantined by county Public Health shall not return to work until they have met Health Directive criteria to discontinue home isolation.
More Definitions of Sick Unit
Sick Unit means an industrial unit declared sick by the Board for Industrial and Financial Reconstruction under the Sick Industries Companies (Special Provision) Act, 1985 or by the State Apex Committee for SSI headed by the Director of Industries or the High Level Empowered Committee headed by the Chief Secretary for large and medium sector. Sick units also include units closed for being in red for years or for financial reasons or for reasons of obsolete technology.
Sick Unit means an industrial unit held sick by the Board for Industrial and Financial Reconstruction under the Sick Industrial Companies (Special Provisions) Act, 1985 or the Nodal Committee constituted under Resolution No.29868 dated 6.11.1980 of Industries Department or, the State Level Inter- Institutional Committee constituted under resolution No.25569 dated 25.10.1983 of Industries Department.
Sick Unit means a unit 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. In the first two cases, an auditor who accepts the audit would be guilty of professional misconduct.
Sick Unit means an Unit belonging to an industrial company that is not less than 5 years old and that has at the end of any financial year accumulated losses equal to or exceeding its net worth. Net worth is the sum total of the paid up capital of the industrial company and its free reserves. In case of SSI units, the definition of RBI from time to time will be applicable.