General Studies · Business Environment
The following two statements relate to industrial sickness. Choose the correct code for the statements being correct or incorrect. Statement I: The Sick Industrial Companies Act (SICA) was enacted to address a chronic problem of industrial sickness in the Indian economy. Statement II: SICA defined a sick industrial unit as one that had existed for at least three years and had incurred accumulated losses equal to its entire net worth at the end of any financial year.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is correct, but II is incorrect.
- 2Statement II is correct, but I is incorrect.
- 3Both statements I and II are correct.
- 4Both statements I and II are incorrect.✓
Correct answer
Both statements I and II are incorrect.
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