ONGC vendors: Many are struggling to survive, defaults are expected – 21 Jul 2022

Here is a prominent ONGC contractor, with several jobs in hand, but under severe financial pressure

Deadlines are being missed, vendors are not getting paid

It is not just this contractor, but there is pain across-the-board, it seems, for vendors who took orders earlier, when the commodity super cycle had not begun

And nothing can be done