ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Misconceived and Unworkable-Sick Industries Bill

The proposed bill to deal with industrial sickness in no way addresses the lacunae in the existing act, and instead makes provisions which are detrimental to the interests of workers, suppliers of raw materials and state electricity hoards. The board of directors is deprived of judicial authority and the infrastructure to determine the nature of sickness and issue orders to ameliorate it. All this is being done, it appears, for the sole purpose of ensuring repayment of the dues of secured creditors and not with the intention of a long-term revival of the sick company.

To read the full text Login

Get instant access

New 3 Month Subscription
to Digital Archives at

₹826for India

$50for overseas users


(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top