Under the Sick Industrial Companies (Special Provision) Act, 1985, a sick Industrial company means
1
Being a company registered for not less than 10 years which has at the end of any financial year accumulated losses equal to 50% of its net worth.
2
Being a company registered for not less than 5 years which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth
3
Being a company which has accumulated losses equal to its entire net worth
4
Being a company which immediately after start, has accumulated losses which eat up 50% of its net worth.