Public Sector Undertakings have been the mainstay of India’s industrialization thrust. The same model was accepted by the States of the Union. However, over a period of time, some of the public sector undertakings due to faulty policy of governance landed themselves in a grave situation. Slowly and gradually, the ill effects of poor governance resulted in continuing losses for the PSUs, resulting in their being declared as a sick unit. As a newly posted Managing Director of such a sick PSU, you are saddled with the task of reviving it. In your effort to revive, you need to highlight the main drawbacks which were the bedrock of such a situation, and, the new initiatives you would deploy to revive the sick unit. (200 words)