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Take steps once you have become a Sick Industrial Company:
- Convene a Board Meeting after issuing not less than seven days notice' to every director of the company at his address registered with the company as per Section 173(3) of the 2013 Act to decide about the increase and to fix up the date, time, place and agenda for convening a General Meeting and to pass an Ordinary Resolution' (or Special Resolution,
- Beware that every officer of the company whose duty is to give notice of the Board Meeting as aforesaid and who fails to do so will be punishable,a fine of Twenty-Five Thousand rupees.
- Further, note that the aforesaid offence is compoundable by the Central Government
- In the same Board Meeting also pass a resolution authorising anyone of the directors or the company secretary of your company to sign and file the reference and appoint authorised representative.
- Make the reference to the BIFR in Form A of the B1FR Regulations, 1987 if you area non-Government Company and in Form AA, if you are a Government Company, accompanied by 5 further copies thereof along with 4 copies each of all the enclosures thereto.
- File the reference either by delivering it at the office of the BIFR or by sending it by registered post.
- Rectify the defect if any found in the reference while scrutiny within such time as the Secretary or the Registrar of the Board deems reasonable.