• In December 1991, the Sick Industrial Companies (Special Provisions) Act (SICA), 1985 was amended to bring public sector enterprises under the purview of the Board for Industrial and Financial Reconstruction (BIFR).
• This amendment was a significant part of India's economic reforms aimed at revitalizing the industrial sector.
• The primary goal was to identify and rehabilitate sick industrial companies, including those in the public sector, by providing a structured mechanism for their revival or closure.
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