The Legal Remedies For Businesses In Financial Distress

Financial distress in recent times has led to insolvency proceedings for companies which makes it important for them to be well versed with what legal remedies and resources they have at their bay to overcome it. 

The definition of financial distress is a company that cannot generate sufficient income to meet its financial obligations. 

Some key factors for this include a decline in revenue, increase in costs, declining profit etc. The Covid-19 lockdown aggravated financial stress for a lot businesses. Creating budgets based on unrealistic sales, revenue and expense projections can lead to financial struggles you might not be able to overcome. Such  

Watch Manisha Chaudhary, Managing Partner at UKCA and Partners LLP; Niraj Kumar, Partner, DSK Legal; Pallavi Pratap, Managing Partner, Pratap & Co and Ramanuj Kumar, Partner, Cyril Amarchand Managaldas discuss other underlying reasons for the financial distress in businesses and what legal remedies and resources they can use to overcome it. 

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