Sick Unit definition

Sick Unit means and include a Micro & Small Manufacturing Enterprise so considered and certified by the Directorate of Industries, or Medium Manufacturing Enterprise / LSI Unit so considered by the Board for Industrial and Financial Reconstruction (BIFR) or a Co-operative Unit / Enterprise so certified by the Commissioner of Co-operation, State of Maharashtra.
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Sick Unit means an industrial unit declared sick by the Board for Industrial and Financial Reconstruction under the Sick Industries Companies (Special Provision) Act, 1985 / National Company Law Tribunal (NCLT) or by the State Level Committee for micro, small and medium industries headed by the Director of Industries or the High Level Empowered Committee headed by the Chief Secretary for large sector.
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Sick Unit means and include an Micro & Small Manufacturing Enterprises so considered and certified by the Directorate of Industries, or Medium Manufacturing Enterprises / LSI Unit so considered by the Board for Industrial and Financial Reconstruction (BIFR) and Co-operative unit’s / Enterprises as certified by Commissioner of Co-operation, State of Maharashtra.
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Examples of Sick Unit in a sentence

  • The Company was declared as a Sick Unit within the meaning of Section 3(1)(o) of the Sick Industrial (Special Provisions) Act, 1985 (SICA).

  • The Company was declared as a Sick Unit within the meaning of Section 3(1) (o) of the Sick Industrial (Special Provisions) Act, 1985 (SICA).

  • A 'Sick Unit' shall mean and include a Micro & Small Manufacturing Enterprise so considered and certified by the Directorate of Industries, or Medium Manufacturing Enterprise / LSI Unit so considered by the Board for Industrial and Financial Reconstruction (BIFR) / National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code - 2016 or a Co- operative Unit / Enterprise so certified by the Commissioner of Co-operation, State of Maharashtra.

  • A 'Sick Unit' shall mean and include a Micro & Small Manufacturing Enterprise so considered and certified by the Directorate of Industries, or Medium Manufacturing Enterprise / LSI Unit so considered by the Board for Industrial and Financial Reconstruction (BIFR) or a Co-operative Unit / Enterprise so certified by the Commissioner of Co-operation, State of Maharashtra.

  • Sick Unit-A 'Sick Unit' shall mean and include a Micro & Small Manufacturing Enterprise so considered and certified by the Directorate of Industries, or Medium Manufacturing Enterprise / LSI Unit so considered by the Board for Industrial and Financial Reconstruction (BIFR) or a Co-operative Unit / Enterprise so certified by the Commissioner of Co-operation, State of Maharashtra.2.16.

  • However, since late 2013 the shortages and food shortages became acute.

  • The Company still continues to be a Sick Unit as the Company has incurred huge losses in the past years and the net worth of the Company is negative.

  • Commentsa) The net worth of the Company has been eroded during the financial year 2006-07 and based on its financial position as on 31-3-2007, the Company became Sick Unit and Registered with BIFR under Reference No.67/2007.

  • Sick Unit Sick unit refers to a unit whose account has remained substandard for more than six months or there has been erosion in net worth due to accumulated cash losses to the extent of 50% of the net worth during the previous accounting year and the unit has been in commercial production for at least two years.

  • The Company was a Sick Unit and was discharged from BIFR in June 2006.


More Definitions of Sick Unit

Sick Unit means an industrial unit declared sick by the Board for Industrial and Financial Reconstruction under the Sick Industries Companies (Special Provision) Act, 1985 or by the State Apex Committee for SSI headed by the Director of Industries or the High Level Empowered Committee headed by the Chief Secretary for large and medium sector. Sick units also include units closed for being in red for years or for financial reasons or for reasons of obsolete technology.
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Sick Unit means an industrial unit held sick by the Board for Industrial and Financial Reconstruction under the Sick Industrial Companies (Special Provisions) Act, 1985 or the Nodal Committee constituted under Resolution No. 29858 dtd.6.11.1980 of Industries Department or, the State Level Inter-Institutional Committee constituted under Resolution No. 25569 dtd. 25.10.1983 of Industries Department.
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Sick Unit means an Unit belonging to an industrial company that is not less than 5 years old and that has at the end of any financial year accumulated losses equal to or exceeding its net worth. Net worth is the sum total of the paid up capital of the industrial company and its free reserves. In case of SSI units, the definition of RBI from time to time will be applicable.
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Related to Sick Unit

  • Share Unit means a unit credited by means of an entry on the books of the Corporation to a Participant pursuant to the Plan, representing the right to receive, subject to and in accordance with the Plan, for each Vested Share Unit one Share, at the time, in the manner, and subject to the terms, set forth in the Plan and the applicable Grant Agreement;

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Stock Unit means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

  • PSU means Public Sector Undertaking

  • Restricted Stock Unit means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant to Section 8. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company.

  • 3(i) Award means an Award granted pursuant to Section 3(i) of the Ordinance to any person who is a Non- Employee.

  • Bonus means the bonus described in the Section 2.3.

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

  • Performance Unit Award means an award of Performance Units under this Plan.

  • Performance Unit means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.

  • Phantom Unit means a notional Unit granted under the Plan which upon vesting entitles the Participant to receive, at the time of settlement, a Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its sole discretion.

  • RSU means a contractual right granted pursuant to Section 9 that is denominated in Shares. Each RSU represents a right to receive the value of one Share (or a percentage of such value) in cash, Shares or a combination thereof. Awards of RSUs may include the right to receive dividend equivalents.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Cash Award means an award denominated in cash.

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • Restricted Stock Unit Award means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 6(b).

  • Equity Award means stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares or any other form of award that is measured with reference to the Stock.

  • Deferred Stock Unit means a right granted to a Participant under Article 9 to receive Shares (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Restricted Stock Unit Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement will be subject to the terms and conditions of the Plan.

  • incentive plan award means compensation awarded, earned, paid, or payable under an incentive plan;

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.