Covid 19 catastrophe has eventually stopped the functioning of Indian corporates and it has affected it to the core. The study is an empirical and quantitative study to evaluate the nature and prevalence of financial risks which are prevalent in Indian organizations. The study would also evaluate its implications on financial management strategies for Indian corporates. In this study Mixed research method is used which would be a combination of Exploratory, conclusive and action oriented research. The research method chosen for this study would be survey method with Questionnaire. For this study a sample of 100 senior managers, financial managers, accountants and auditors would be contacted who are working in India. Data analysis has been done using SPSS. It was found from this study that company rules and regulations led to more financial risks in Indian corporates. The government policies and procedures had very less influence on company’s financial risks in India. It is concluded that companies must change their policies and procedures to reduce the prevalence of financial risks in their companies.