Jammy...really good point. But that's the reason why a company files bankruptcy.
I'm not sure exactly how the Indian accounting rules work. But when a company files for bankruptcy that means they can't pay back their claims and they're almost protected by a legal shield so the creditors don't come and jump on the company's throat.
If company was liquidated, then there is a problem. There are several types of bankruptcy filings that can take place.
At times, the creditor does infact loose their money that was owed to them. Regardless of anything, GM is a corporation. I'm not really sure how the legal entities are set up in India, but I would imagine that Jessi and Armaan cannot be personally held liable for their personal assets. You can sue GM because that is the legal entity to which the money was lent to. The money wasn't leant to Armaan or Jassi, so you can't go after their personal assets. If GM was a sole propriorship of Armaan and Jessi, then you can go after their personal assets.
Regardless of the fact that the company is still bankrupt, that doesn't meant it can't operate. It still has assets on hand, for example the building that they work in and the remaining raw materials for which they could have prepaid in advance. Not to mention a lot of companies get paid in installments. They could still have money coming from prior contracts. Trust me there are loop holes in business.
There are many companies that we cna use as an example, that do have such situations, but that doesn't mean the company goes down, at least not over night.
Not to mention, there are such things as off balances sheet assets and off balance sheet reserves. These are assets and money that belong to the company but never get put on the balance sheet. Again there are reasons for them and business is a dirty game, but it can happen. I mean think about it, look at the influence Aryan has. If he can provide evidence of fraud within his own company, he can do anything.
I mean don't get me wrong, these are some issues that T&D should shed some light on other wise it makes it harder for them to move to the next step, but we as viewers also have to understand one thing. The directors have depicted GM to be a huge corporation, with the Board of Directors being extremely wealthy and having a lot of influence in government, law, politics and media.
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