The Sick Industrial Companies (Special Provisions) Act, 1985 with Rules

The Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) was enacted to address the growing problem of industrial sickness in India by providing a structured legal mechanism for early detection, revival, and rehabilitation of sick industrial companies. This book offers a clear and authoritative presentation of the Act along with the allied Rules, making it a valuable statutory reference.

The legislation introduced specialized bodies such as the Board for Industrial and Financial Reconstruction (BIFR) and the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) to oversee revival schemes, financial restructuring, mergers, or winding up where revival was not feasible. It aimed to protect employment, optimize use of industrial assets, and safeguard the economy from widespread industrial failures.

This publication is particularly useful for legal professionals, corporate advisors, academicians, and students studying insolvency and restructuring laws. Its systematic structure allows quick reference to statutory provisions, procedural aspects, and regulatory intent. Although later repealed and replaced by modern insolvency frameworks, SICA remains critically important for historical, academic, and transitional legal understanding.