India is not new to the shutting down of firms. At some point, you have to decide.
There are companies like Reliance that never pay on time or never pay at all. And there are cases when a company is doing well, but it goes broke because of unavoidable circumstances. As a vendor, you should be able to look up the company’s rating and do business.
All VC funds have a tendency to resign from their board seats so as to not attract liabilities even before the decision to shut down the company arrives. As a VC fund and director, you should stay on the board till all the liabilities have been addressed and there is a sign off on all the vendors and employees. It is not fair to jump ship and leave the founders to fend off by themselves.
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