Abstract Science Construction’s business is in planning, developing and building road projects. The major of its clients are municipalities, city governments, and other public sector entities. While the bankruptcy rates for these clients is very low, when economic downturns happen, their ability to pay in a timely fashion also suffers. This leads to businesses such as Science Construction needing to take on additional debt and to find creative methods in order to stay afloat during times of recession. Methods such as selling accounts receivables at discounted rates and taking larger lines of credit through banks and other lending institutions are some of the ways organizations can remain viable when their cash inflows have turned into a trickle. Science Construction is asking the Turkish Courts to postpone their bankruptcy proceedings for a year while they attempt to restructure. Through this, suggestions such as forcing shareholders to pay their debt to the organization, gaining credi...
Satyam is a national shame! The recent submission by their promoter and Chairman Mr Raju of the frauds he committed to the tune to Rs 7800 crore has tarnished the image of India Inc. But it is not limited to that alone, it has taken a huge toll in the confidence of investors and public in general. What is it? How come a corporate house, regularly being audited can cheat the public, their clients, the global market as a whole? Does it mean that a single man can take still the gullible public in general for a ride, if he is influential or moneyed! The name of PWC or Price Water Coopers, their auditors who has been auditing them for years, has been indicted. Well that is also a corporate house, how about the Government agencies; say the income tax, the service tax, the sells tax authorities? Have they been sleeping. Styam has shown inflated profit, inflated sells; they must have accrued inflated tax liabilities, why not that has been checked? Will our Government answer?