Acquisition & Merger of Sick Companies through BIFR

Takeover of sick industrial units is often seen as a promising alternative to building a business from scratch. A 'sick industrial company' means an industrial company that has been registered with the Register of Companies for minimum of five years and at the end of any financial year its accumulated losses is equal to or exceeding its entire net worth (i.e., the sum of the company's paid share capital and free reserves).