Revival and rehabilitation powers: Tribunal may order timed revival with conditions or direct an agency to prepare a scheme. The Tribunal, after inquiry, must decide whether a company is a sick industrial company and whether it is practicable to restore net worth above accumulated losses or enable repayment of specified debts. If practicable, the Tribunal issues a written order granting time with conditions for revival or repayment. If impracticable and public interest requires, the Tribunal may direct an operating agency to prepare a scheme for prescribed measures and retains power to review or modify orders where restrictions are breached, revival fails, or on agency submission.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Revival and rehabilitation powers: Tribunal may order timed revival with conditions or direct an agency to prepare a scheme.
The Tribunal, after inquiry, must decide whether a company is a sick industrial company and whether it is practicable to restore net worth above accumulated losses or enable repayment of specified debts. If practicable, the Tribunal issues a written order granting time with conditions for revival or repayment. If impracticable and public interest requires, the Tribunal may direct an operating agency to prepare a scheme for prescribed measures and retains power to review or modify orders where restrictions are breached, revival fails, or on agency submission.
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