Small firms catch the deadly IOU virus9 min read . Updated: 24 Sep 2020, 05:18 AM IST
- Few companies have been able to recover payments in the post-covid world. This, in turn, has a cascading effect
- Inside government circles, there is talk of a new technology platform to list firms’ payments outstanding information. But there is little the government can do vis-a-vis private contracts
NEW DELHI : Dhruvam Thaker, founder of car rental company The Smart Taxi, aggressively pursued two customers that delayed payments. The customers were multinationals based in Ahmedabad who had used his cabs before and during the lockdown, in March and April. They ran up combined invoices of ₹2 lakh. Nonetheless, there was no word on clearing the dues even after four months.
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