The full form of SICA is Sick Industrial Companies Act. It’s used on Governmental ,Policies & Programs in India

The Sick Industrial Companies Act of 1985 (SICA) was a key piece of legislation dealing with the issue of rampant industrial sickness in India. The Sick Industrial Companies Act (SICA) was enacted in India to detect unviable (“sick”) or potentially sick companies and to help with their revival, if possible, or their closure, if not. This measure was taken to release investment locked up in unviable companies for productive use elsewhere.

The Sick Industrial Companies (Special Provision) Act, 1985 was enacted by the Government of India on the recommendations given by the T. Tiwari Committee Report (1981) to deal with the issue of widespread industrial sickness in India which created a methodical financial risk.

The Sick Industrial Companies (Special Provision) Act, 1985 was enacted with a view to secure timely detection of sick or potentially sick companies owning industrial undertakings, to take speedy action by Board of experts to take steps with respect to these companies and to the enforcement of the measures so determined. The act aimed to help revive these sick companies or help in their closure, if not so that the investment locked with these companies could be used somewhere productive.