Thank you, Mr. Amit Singh, for a nice presentation. I had planned to do research on the impact of LPG on SSI (Sick Industries) in India, for which I approached the SSC Office. The clerk in that office asked me for the definition of a Sick SSI company. I started explaining it my way, assuming he didn't know anything. To my surprise, he began asking me, "Do you think any owner running the SSI can withstand the losses occurring for three consecutive years? What will the owner do if it continues?" I replied that the owner would have to dispose of the SSI unit to another party. He then added, "Once ownership changes, everything will become new. The new owner has to run the company for another three consecutive years, and only if they withstand the losses can the company be declared as Sick." Therefore, in India, it is very rare to see such sick SSIs even after Liberalization, Privatization, and Globalization.
Thank you, Amit Singh, for bringing back memories from 15 years ago.