Out as far the industrial sickness problem hovers around the economy of the nation, The Reserve Bank of India (RBI) has been assuming a crucial job in forestalling sickness in industrial units. Since the measure of outstanding bank credit has gone up day by day, the Bank has been taking an interest in the revival of the sick units, yet additionally impacting the financial establishments to give rehabilitation bundles to these sick units. The primary sorted out endeavor to handle the issue was made when the Reserve Bank of India sorted out a course on sick industrial units in April 1976.
Out as far the industrial sickness problem hovers around the economy of the nation, The Reserve Bank of India (RBI) has been assuming a crucial job in forestalling sickness in industrial units. Since the measure of outstanding bank credit has gone up day by day, the Bank has been taking an interest in the revival of the sick units, yet additionally impacting the financial establishments to give rehabilitation bundles to these sick units. The primary sorted out endeavor to handle the issue was made when the Reserve Bank of India sorted out a course on sick industrial units in April 1976. After the course, the Bank made a Sick Industrial Cell in 1976 in its Department of Banking Operation and Development (DBOD). The significant advances taken by the Cell were to screen the exhibition of business banks in recognizing the sick units and dispatch legitimate healing measures at whatever point essential. Every step which the RBI has taken is to coordinate the efforts of government, financial institutions and banks in the rehabilitation of potentially sick industries and companies.
In 1976, RBI asked the commercial banks to present a quarterly statement of all sick industries which enjoy an aggregate credit limit of Rs. 1 Crore and above from the banking system.
Again, the RBI has requested that each Bank make a Cell both at the focal and provincial offices to watch the situation of sick industrial units on a progressing premise so the reasons of sickness can be discovered. The Cell has to discover the suitability of the units. On the off chance that it is discovered reasonable, it needs to decide the proper advances essential for its rehabilitation. So as to understand the issues of a sick unit appropriately and to take choice for rehabilitation on schedule, the RBI steps up to the plate and bring the financial foundations together. The banks are solicited by the RBI to outfit with quarterly reports based on the execution of both solid and sick units.
The RBI has comprised a Study Group called Tandon Committee Report in July 1974 to propose guidelines to commercial banks for development and management of credit for guaranteeing end-utilization of assets and keeping a watch on their wellbeing, to suggest a framework for getting periodical conjecture and recommending stock standards for various ventures and to propose rules in regard of agreeable capital structure and sound financial basis.
In December 1991, the Reserve Bank of India comprised a Committee under the Chairmanship of P. R. Nayak. The Nayak Committee presented its report in September 1992. The Committee talked about in subtleties the current Reserve Bank of India guidelines on sick small-scale industrial units and proposed specific changes.
The significant measures prescribed were to change the meaning of sick small scale industrial unit, guarantee setting up of independent Cell to manage sick small scale industrial units by banks at the local places, bear the penances for rehabilitation of sick units by all the concerned organizations, not just business banks and/or State Financial Corporations alone, set up extraordinary courts to manage recovery suits of banks and so forth. Another Committee was set up by the legislature under the Chairmanship of Prof. Omkar Goswami. The Committee investigated the few parts of industrial sickness and issues identified with corporate rebuilding. The Committee presented its report in July 1993. The significant recommendations of the Committee were-
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