OBJECTIVES OF SICA

The objectives of this Act (SICA) as incorporated in its preamble, emphasises the following points:

The SICA had been enacted in the public interest to deal with the problems of industrial sickness with regard to the crucial sectors where public money is locked up.

It contains special provisions for timely detection of sick and potentially sick industrial companies, speedy determination and enforcement of preventive, remedial and other measures with respect to such companies.

Those measures are to be taken by a body of experts.

The measures are mainly

(a) Legal

(b) Financial restructuring

(c) Managerial