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 ... Summary
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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