Service providers feel the pain as India Inc faces working capital squeeze

The country’s largest corporations are hitting the brakes on payments to be made to service providers such as consulting and law firms amid a liquidity crunch, say senior executives in India Inc. A founding partner at a leading corporate law firm said, “There is a delay of between two and four months above what the normal billing cycle for receivables used to be. The trend extends to some of our top corporations in the country.”  The delay, the lawyer said, was a manifestation of pushing service providers lower down the list of priorities. “The thought proces.....

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel
Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.