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of <h1>Amendment to Sick Industrial Companies Act Repeal: Pending Cases Abated, Refer to NCLT Under IBC Within 180 Days</h1> The amendment to the Sick Industrial Companies (Special Provisions) Repeal Act, 2003, modifies section 4, sub-clause (b). It stipulates that any appeals, references, or proceedings pending under the Sick Industrial Companies Act, 1985, will be abated on a date notified by the Central Government. Companies affected can refer their cases to the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016, within 180 days without fees. Schemes sanctioned or under implementation will be treated as approved resolution plans under the Insolvency and Bankruptcy Code. Appeals against such plans can be made to the National Company Law Appellate Tribunal within 90 days if the statutory appeal period had not expired.
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