Sick Company definition

Sick Company means a company which has failed to pay or to secure or compound the debts owed to the secured creditor referred to in Section 253(1) of the Act within time period as specified therein.
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Sick Company means a Company (having been in existence for not less than five years) which is found at the end of any financial year to have incurred accumulated losses equal to or exceeding its entire net worth.
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Sick Company means and includes a company, which has failed to pay the debt of its secured creditors within 30 days of the notice of demand or to secure or compound it to the reasonable satisfaction of the secured creditors as per section 253 of the Act;
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Examples of Sick Company in a sentence

  • Further none of the Group Company is a Sick Company or referred to BIFR.

  • The company is not a Sick Company within the meaning of Sick Industrial Companies (Special Provisions) Act, 1985 and is not under the Board for Industrial and Financial Reconstruction, is not under winding up and does not have a negative net worth.

  • As per audit ed accounts for the period ended 31st March 2014, the Company became a Sick Company and had been referred to the Board for Industrial and Financial Reconstruction ( BIFR) on 01.10.2014.

  • In the meantime due to erosion of the entire net worth of ESCL, it was registered as a Sick Company under the provisions of SICA with BIFR vide its Orders dated 18 11 2014.

  • Company has filed a reference u/s 15 (l) of the Sick Industries Companies (Special Provisions) Act 1965 (SICA) before Board for Industrial & Financial Reconstruction (B.I.F.R) informing the said Board that net worth of the Company had been fully eroded fully on 30-09-2012 and the Company has become a Sick Company.

  • As the Company is a Sick Company and registered before the BIFR there is no increase in the remuneration of Key Managerial Personnel of the Company during the year under review.

  • It was referred in the last Annual Reports that as per audit ed accounts for the period ended 31 st March 2014, the Company became a Sick Company and had been referred to the Board for Industrial and Financial Reconstruction ( BIFR) on 01.10.2014.

  • I also report that the Company is registered with BIFR as a Sick Company.

  • The Corporate Debtor became a Sick Company and was referred to the Board for Industrial and Financial Reconstruction (BIFR) on 01.10.2014 and the same was registered by the BIFR on 24.02.2015 as case number 31/2015.

  • It was reported last year that the Company has been registered as a Sick Company by BIFR under Registration No. 501/2004 dated 18.03.2004.

Related to Sick Company

  • HK Company shall have the meaning ascribed to it in the preamble of this Agreement.

  • UCITS management company means a management company as defined in Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS)1;

  • Transportation network company means a company or organization facilitating and/or providing transportation services using a computer or digital application or platform to connect or match passengers with drivers for compensation or a fee.

  • Member Company means a “service recipient” as defined in Treasury Regulation § 1.409A-1(h)(3).

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • Client company means any person that enters into an agreement for professional employer services

  • Management Company Employee means an individual employed by a Person providing management services to the Company which are required for the ongoing successful operation of the business enterprise of the Company, but excluding a Person engaged in Investor Relations Activities;

  • Combined Company means Holdco and its consolidated subsidiaries after giving effect to the Business Combination.

  • boycott energy companies means, without an ordinary business purpose, refusing to deal with, terminating business activities with, or otherwise taking any action that is intended to penalize, inflict economic harm on, or limit commercial relations with a company because the company:

  • Production company means a person or entity engaged in the business of making motion picture, television, or radio images for theatrical, commercial, advertising, or education purposes; Reserved

  • Operating Companies shall have the meaning specified in the recitals to this Agreement.

  • Associated Companies : means any agent with delegated authority under Section 20 of these Terms and Conditions.

  • General Motors Financial Company, Inc. means General Motors Financial Company, Inc. (f/k/a AmeriCredit Corp.).

  • boycott energy company means “without an ordinary business purpose, refusing to deal with, terminating business activities with, or otherwise taking any action intended to penalize, inflict economic harm on, or limit commercial relations with a company because the company (a) engages in the exploration, production, utilization, transportation, sale, or manufacturing of fossil fuel-based energy and does not commit or pledge to meet environmental standards beyond applicable federal and state law, or (b) does business with a company described by paragraph (a).” (See Tex. Gov. Code 809.001). When applicable, does Vendor certify? Yes, Vendor certifies business entity that enters into a contract with a school district must give advance notice to the district if the person or an owner or operator of the business entity has been convicted of a felony. The notice must include a general description of the conduct resulting in the conviction of a felony.” Subsection (b) states, "a school district may terminate a contract with a person or business entity if the district determines that the person or business entity failed to give notice as required by Subsection (a) or misrepresented the conduct resulting in the conviction. The district must compensate the person or business entity for services performed before the termination of the contract.” Subsection (c) states, "This section does not apply to a publicly held corporation. Vendor certifies one of the following:

  • Leasing company means that term as defined in 49 USC 14504a.

  • Asset Management Company means an asset Management Company as defined in the Rules and Regulations.

  • SCS means the Soil Conservation Service.

  • Company has the meaning set forth in the Preamble.

  • Nonprofit corporation means a nonstock corporation organized under ch. 181 that is a nonprofit corporation, as defined in s. 181.0103 (17).

  • Detonator means a device containing a detonating charge used to initiate detonation in an explosive or any device capable of triggering or setting off an explosion or explosive charge including, but not limited to, impact or an impact device, a timing mechanism, electricity, a primer, primer or detonating cord, a detonating cap or device of any kind, detonating waves, electric blasting caps, blasting caps for use with safety fuses, shock tube initiator, and detonating cord delay connectors, or any other device capable of detonating or exploding a bomb, weapon of mass destruction, or destructive device.

  • Foreign nonprofit corporation means an entity:

  • Alliance means the Public Service Alliance of Canada;

  • Associated Company means any legal entity of which a person or company has direct or indirect Control and only as long as a person or company maintains direct or indirect Control.

  • Service corporation means a corporation organized under ss. 180.1903 to 180.1921.

  • Investee Company means any company or entity in which a Fund has invested or which has issued debt securities to a Fund;

  • Transportation network company rider or “rider” means an