Understanding Sick SMEs, BIFR Registration, and Turnaround Strategies

I was looking for a list of registered sick SMEs in Pune and Mumbai. The list should contain their names, addresses, telephone numbers, and also email addresses - if possible.

Thanks.

Dear Friend,

What is sick? If the enterprise runs in a loss for three consecutive years, then it will be considered a Sick Unit. Do you think a small entrepreneur can withstand three years of continuous loss? If they endure the loss for three consecutive years, then the SME can be declared/registered as a Sick SME. If the ownership changes due to continuous losses for one, two, or three years, then the enterprise cannot be registered as sick due to the new owner, and the enterprise name also changes. If the entrepreneur withstands and survives, then they cannot be classified in the MSME, or the loss may not be actual.

Dear Ms. (Cite Contribution),

I also searched for the same in 2004 for my M.Phil in Economics. However, this was the reply I received from a clerk at the SME Department, Guindy, Chennai.

Dear readers,

I believe our Mr./Ms. Anonymous is exploring a business opportunity to purchase a distressed company at a low value and then successfully turn it around.

A firm or a company is said to be SICK when its NET WORTH becomes negative and incurs Cash Losses for three years consecutively. A sick company has to compulsorily register with the Board for Industrial & Financial Reconstruction, a quasi-judicial body headed by the Chairman in New Delhi with a regional Board in Chennai. All firms that have registered with BIFR can be obtained from their office at Shastri Bhavan, Chennai. For further reading, obtain a bare act of Sick Industrial Companies (Special Provisions) Act. Kumar S.