TMI BlogBail out takeovers.X X X X Extracts X X X X X X X X Extracts X X X X ..... ial company, in pursuance of a scheme of rehabilitation approved by a public financial institution of a scheduled bank (hereinafter referred to as the lead institution ). (2) The lead institution shall be responsible for ensuring compliance with the provisions of this Chapter. (3) The lead institution shall appraise the financially weak company taking into account the financial viability, a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is Chapter, the expression financially weak company means a company, which has at the end of the previous financial year accumulated losses, which has resulted in erosion of more than 50 per cent but less than 100 per cent of its net worth as at the beginning of the previous financial year that is to say of the sum total of the paid-up capital and free reserves. - - statute, statutory provis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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