Restructuring of Business and Finance of Sick Companies

Abstract

Time is of the essence in any restructuring. However, the Indian Experience has not been very satisfactory. The system suffers from indecision and enormous delay in approval/implementation of the restructuring schemes. Business ventures are undertaken to accomplish a certain vision. Vision leads to development of basic principles and strategic direction encompassing operating plans, establishment of management structure, operating methods, growth plans etc. Every effort is made to achieve the desired goal and eventually to accomplish the vision.