Reliance Industries is ganda dhana for many reasons, but the one that is most disturbing is their reputation for not paying vendors on time. They like to "tighten" their vendors by withholding payment for months beyond contractual commitment. It's one way to manage your working capital, I suppose. The vendors hire the guys who will curry favor the big bully on the block, "Sahab, us payment ka kya hua?" It's gotten so severe that some venture funds check whether their potential portfolio company is supplying to Reliance; it's indicative of the investee's tolerance for servility. As a start-up owner I used to know once said, "I'll touch anyone's feet to get business."
Anna Hazare, the business world also needs you.
End notes:
Ganda dhanda = dirty business
"Sahab, us payment ka kya hua?" = "Sir, would you be so kind as to tell me about that payment?"
Anna Hazare, the business world also needs you.
End notes:
Ganda dhanda = dirty business
"Sahab, us payment ka kya hua?" = "Sir, would you be so kind as to tell me about that payment?"
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