What is industrial sickness symptoms of sick industry?
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Industrial sickness is referred as an industrial company at the end of any financial year, accumulated losses equal to, or exceeding, its net worth and has also suffered cash losses in such financial year and the financial year immediately preceding such financial year.
The primary symptoms of industrial sickness are:
i) The Accumulated losses in any financial year equal to 50 per cent or more of its average net worth during four years immediately preceding such financial year; or
ii) Failure on repayment of its debts within any three consecutive quarters on demand made in writing for its repayment by a creditor or creditors of such company
The primary symptoms of industrial sickness are:
i) The Accumulated losses in any financial year equal to 50 per cent or more of its average net worth during four years immediately preceding such financial year; or
ii) Failure on repayment of its debts within any three consecutive quarters on demand made in writing for its repayment by a creditor or creditors of such company
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