Reconstruction of State Indebted Insolvent Companies Act [Chapter 24 27]

Abstract

ACT To provide for the reconstruction of State-indebted companies and associate companies that are unable to repay credits made to them from public funds, or in respect of whose liabilities the State has issued any guarantee that has become due; to provide for appointment and functions of administrators of companies under reconstruction; to provide for formulation and implementation of schemes of reconstruction in respect of such companies; to amend the Prevention of Corruption Act [Chapter 9:16]; and to provide for matters connected with or incidental to the foregoing.