Description

Corporate failure is the biggest problem in the development of Indian economy. The corporate failure is a continuous process. A particular industry can be running sick even if the industrial environment more favorable to it at all levels. Corporate frauds have increased for the last two decades & created events of corporate failure in India. Corporate sector plays an important role in generating employment and national income in India. The rapid growth and the magnitude of industrial sickness is a present conflict as well as for the future puzzling issue for Indian economy. It a matter of grave concern as various billions of rupees are locked up in millions of sick units also is at shape the future of all the stakeholders of business. The failure of a unit is an event which brings a lot of mental torture to entrepreneurs, managers and to their families. The society is also affected by the phenomenon of sickness as unemployment spreads widely, availability of goods and services decrease and the prices soar up. A detailed analytical study has been conducted on Prediction of corporate failure, revival of industrial units, causes of failure and existing law pertaining in India.