Ref RBI. No.: 264/2007-08
DBS.CO.BC.OSMOS No.12/33.01.039/2007-08
March 19, 2008
The Chairman, Chief Executive Officer
All Scheduled Commercial Banks (Excluding RRBs)
Dear Sir/Madam,
Annual Reporting System in respect of Non-SSI Sick/Weak Industrial Units
Please refer to our letter RBI.No:356/2005-06, DBS.CO.BC.OSMOS No. 5/33.01.039/2005-06 dated April 12, 2006 on the captioned subject, advising to submit the return on Non-SSI sick/weak units in a revised format on a dbase based software.
2. For compilation of data, the definitions of Non-SSI sick/weak units were stipulated vide, circular IECD.No.7/IR-73/89-90 dated September 22, 1989, on the basis of definitions provided in the then "Sick Industrial Companies (Special Provisions) Act (SICA) -1985". The SICA-1985 was repealed vide SICA Repeal Act, 2003. In view of that a need was felt to redefine Non-SSI sick/weak units. The revised definitions of Non-SSI sick/weak units are as follows, which may be followed henceforth for reporting of the captioned return/data:
(i) A “Non-SSI sick unit” is a Non-SSI industrial undertaking (regardless of type of incorporation) whose accumulated losses, as at the end of the latest financial year, equal or exceed its entire net worth (viz., paid up capital and free reserves).
(ii) A “Non-SSI weak unit” is a Non-SSI industrial undertaking (regardless of type of incorporation) if
a. any of its borrowal accounts (principal or interest) has remained overdue for a period exceeding one year;
or
b. there is erosion in the net worth due to accumulated losses to the extent of 50% of its net worth during the previous financial year.
3.The revised definitions of Non-SSI sick/weak units are almost in alignment with the definitions of SSI sick units adopted by the RPCD as stipulated in the circular RPCD.No.PLNFS.BC.57/06.04.01/2001-2002 dated January 16, 2002. It will also enable identification of sick units at incipient stage itself and to take appropriate remedial measures.
4.The data reporting format is given in ANNEX-I. Also, to facilitate proper industry classification, detailed descriptions of industrial activities have been provided in ANNEX-II. Banks are advised to submit the annual return on Non-SSI sick/weak units as on March 31, within one month from the reference date.
Yours faithfully,
(S Karuppasamy)
Chief General Manager-in-Charge
ANNEX-I
Data Reporting Format
Bank's Exposure to Non-SSI Sick/Weak Industrial Units
(As at the end- March )
Summary |
|
|
Category |
No. of Units |
Outstanding Advances (Rs. Lakhs) |
Non-SSI Sick |
. |
. |
Non-SSI Weak |
. |
&. |
Non-SSI Sick Industrial Units
Sr. No. |
Category of
Industry |
No. of Units |
Advances Outstanding
(Rs. Lakhs) |
Total |
Of which
Private Sector |
Total |
Of which
Private Sector |
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
… |
|
|
|
|
|
… |
|
|
|
|
|
… |
|
|
|
|
|
Non-SSI Weak Industrial Units
Sr. No. |
Category
of Industry |
No. of Units |
Advances Outstanding
(Rs. Lakhs) |
Total |
Of which
Private Sector |
Total |
Of which
Private Sector |
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
… |
|
|
|
|
|
… |
|
|
|
|
|
… |
|
|
|
|
|
Note: The format is only indicative. Banks are required to compile the related data using the software provided by the RBI (available at: http://www.rbi.org.in/osmos/) and submit the data only in soft copy form through e-mail at smos@rbi.org.in . |