Thank you Mr. Amit Singh for a nice presentation
I was planned to do research on Impact of LPG on SSI (Sick Industries) in India, for which I approach the SSC Office, The clerk in that office asked me the definition of Sick SSI company, I started explaining him in my way as if he does'nt know anything. But as a surprise he started asking me Do you think any owner running the SSI can withstand the losses occurred in consecutive 3 years. If it continues what the owner will do. I replied he has to dispose the SSI Unit to some other party. Then he continued, Once Ownership changed the entire thing will become new. So new owner has to run the company for another 3 consecutive years and if he withstand the loss then only the company can be declared as Sick. Hence in our India it is very rare to see such sick SSI even after Liberalisation, Privatisation, Globalisation.
Thank you Amit Singh for taking my memory back to 15 years.
17th February 2011 From India, Kumbakonam