Financial distress is considered as one of the major concerns in corporate sector due to continuous increase in filling of bankruptcy by the many companies in India due to various reasons. In this context, prediction of financial distress of the companies well in advance gains significance by the decision makers. Therefore, present study adopted Atman’s Z-score model in prediction of financial distress in four already failure companies in India. The companies included Gensol, LMT, Sintex and Galva Steel limited. The result of the study strongly evidence that, Z-score model effectively predicted the bankruptcy of the selected companies in before three years also. The Z-score of all selected companies in three years reported less than 1.8 which is considered as financial distress zone under the model. Besides, the study also found that poor working capital management, deterioration in retained earnings and profitability of the firms are major factors pushed the companies towards bankruptcy in India.