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of <h1>Section 17: Assessing Sick Companies' Net Worth and Restructuring Options Under 1985 Act</h1> The Sick Industrial Companies (Special Provisions) Act, 1985, defines 'net worth' as the total of paid-up capital and free reserves, excluding reserves from asset re-evaluation and other adjustments. Under Section 17, if a company is deemed sick, the Board assesses if it can restore its net worth above accumulated losses. If feasible, a timeframe is set; if not, a scheme for restructuring is prepared under Section 18. The scheme may involve financial reconstruction, management changes, amalgamation, or asset sale. The Board sanctions and monitors the scheme, ensuring compliance and addressing difficulties during implementation.
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