In this dissertation we study the physical process of a spherically symmetric perfect uid experiencing a continuous gravitational collapse in concurrence with continuous radiating energy in an outward spacetime. Trapped surfaces are avoided and the nal fate of the collapse is a at spacetime. In addition, the collapsing matter conforms to the weak and dominant energy conditions at all epochs. Our investigation clearly unveils the purpose of the equation of state and reveals the bounds on the thermodynamic potentials the equation of state admits for such a model. We arm that these models are generic without any of the issues and paradoxes attached to horizons and singularities, because the system of Einstein eld equations accepts such a theoretical account for an open set of initial data and the equation of state function in their respective functional spaces. High resolution radio telescopes of today, should ideally detect the existence of these compact bodies in the sky.

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