Will NCLT prove to be the Panacea for sick industries?

By:

ISRANI, S D

Contributor(s):

ISRANI, SATYAN S

Material type:

Mixed materialsPublication details: 2013Description: 22-25Subject(s):

RESTRUCTURING

NLM classification:

658.16

In: CHARTERED SECRETARYMSummary: Restructuring and rehabilitation of sick industries should be one of the priorities of the government. It has been over ten years since the law relating to creation of NCLT was passed by amending the companies act during the year 2002, but till now no headway has been made. At the same time, BIFR has continued to exist with the sword of abolition hanging on its haed, very much like the plight of sick companies it deals with from day to day. The article highlights the problems that need tobe addressed by the government and it states that mere creation of NCLT as a tribunal will not slove all the issues relating to restructuring and rehabilitation of sick industries and there is a need for active and effective role by the government in making the system work.

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Holdings
Item type	Current library	Call number	Vol info	Status	Date due	Barcode
Periodicals/Magazines	SSCBS Library		43/1	Available		P14705

Restructuring and rehabilitation of sick industries should be one of the priorities of the government. It has been over ten years since the law relating to creation of NCLT was passed by amending the companies act during the year 2002, but till now no headway has been made. At the same time, BIFR has continued to exist with the sword of abolition hanging on its haed, very much like the plight of sick companies it deals with from day to day. The article highlights the problems that need tobe addressed by the government and it states that mere creation of NCLT as a tribunal will not slove all the issues relating to restructuring and rehabilitation of sick industries and there is a need for active and effective role by the government in making the system work.

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