Consider the following statements.
I. Sick Company is defined as one whose accumulated losses in any financial year are equal to or more than 50% of its average net worth during previous four financial years.
II. The Government set-up Board of Industrial and Financial Reconstruction in 1987.
Which of the statement given above is/are correct ? Select the answer from the codes given below :
1
Only I
2
Only II
3
Both I and II
4
Neither I nor II