SC: Co. can’t be termed as ‘sick’ if proceeds from sale of its assets nullify its losses and liabili

SICA : Where pending implementation of rehabilitation scheme framed by BIFR, respondent-company had received acquisition compensation for its land and would be left with a surplus of about Rs. 50 crores after meeting all its losses and liabilities, it could no longer fall within ambit of expression 'sick industrial company' as defined in section 3(o) of Sick Industrial Companies (Special Provisions) Act, 1985