#scrapibcnow

FINANCE MINISTER and CORPORATE AFFAIRS MINISTER: RESIGN! SCRAP IBC! by DebaprasadBandyopadhyay Via Flickr: onceinabluemoon2021.in/2026/07/23/finance-minister-corpor... In the shadow of nationwide student uprisings demanding the resignation of Education Minister Dharmendra Pradhan and the overhaul of NEET and the NTA, this manifesto stands in unbreakable solidarity and expands the battlefield: Finance and Corporate Affairs Minister Nirmala Sitharaman must resign, and the Insolvency and Bankruptcy Code 2016 must be repealed outright. Under her dual ministries the IBC has delivered its true design—nearly one lakh mostly elderly DHFL depositors stripped of 77 percent of their AAA-rated savings while ₹45,050 crore in proven fraud claims were sold to the acquirer for one rupee and wiped clean by the retrospective shield of Section 32A. A law sold as swift justice now averages 688–853 days, recovers only 31–33 percent, and has been rewritten by at least six parliamentary amendments plus 122 regulatory tweaks in nine years. Financial firms were smuggled in by executive notification, tribunal orders protecting higher offers for depositors were ignored, and the very Committee of Creditors that decided the fate of public money cannot account for its own spending. This is not failure; it is architecture working exactly as built—public risk socialised, private reward privatised. Scrap the Code. Replace it with a depositor-first resolution law passed by Parliament. Question the chair. #Resign_Nirmala_Sitharaman,. #SCRAP_IBC,

FINANCE MINISTER and CORPORATE AFFAIRS MINISTER: RESIGN! SCRAP IBC! by DebaprasadBandyopadhyay Via Flickr: onceinabluemoon2021.in/2026/07/23/finance-minister-corpor... In the shadow of nationwide student uprisings demanding the resignation of Education Minister Dharmendra Pradhan and the overhaul of NEET and the NTA, this manifesto stands in unbreakable solidarity and expands the battlefield: Finance and Corporate Affairs Minister Nirmala Sitharaman must resign, and the Insolvency and Bankruptcy Code 2016 must be repealed outright. Under her dual ministries the IBC has delivered its true design—nearly one lakh mostly elderly DHFL depositors stripped of 77 percent of their AAA-rated savings while ₹45,050 crore in proven fraud claims were sold to the acquirer for one rupee and wiped clean by the retrospective shield of Section 32A. A law sold as swift justice now averages 688–853 days, recovers only 31–33 percent, and has been rewritten by at least six parliamentary amendments plus 122 regulatory tweaks in nine years. Financial firms were smuggled in by executive notification, tribunal orders protecting higher offers for depositors were ignored, and the very Committee of Creditors that decided the fate of public money cannot account for its own spending. This is not failure; it is architecture working exactly as built—public risk socialised, private reward privatised. Scrap the Code. Replace it with a depositor-first resolution law passed by Parliament. Question the chair. #Resign_Nirmala_Sitharaman,. #SCRAP_IBC,

FINANCE MINISTER and CORPORATE AFFAIRS MINISTER: RESIGN! SCRAP IBC! by DebaprasadBandyopadhyay Via Flickr: onceinabluemoon2021.in/2026/07/23/finance-minister-corpor... In the shadow of nationwide student uprisings demanding the resignation of Education Minister Dharmendra Pradhan and the overhaul of NEET and the NTA, this manifesto stands in unbreakable solidarity and expands the battlefield: Finance and Corporate Affairs Minister Nirmala Sitharaman must resign, and the Insolvency and Bankruptcy Code 2016 must be repealed outright. Under her dual ministries the IBC has delivered its true design—nearly one lakh mostly elderly DHFL depositors stripped of 77 percent of their AAA-rated savings while ₹45,050 crore in proven fraud claims were sold to the acquirer for one rupee and wiped clean by the retrospective shield of Section 32A. A law sold as swift justice now averages 688–853 days, recovers only 31–33 percent, and has been rewritten by at least six parliamentary amendments plus 122 regulatory tweaks in nine years. Financial firms were smuggled in by executive notification, tribunal orders protecting higher offers for depositors were ignored, and the very Committee of Creditors that decided the fate of public money cannot account for its own spending. This is not failure; it is architecture working exactly as built—public risk socialised, private reward privatised. Scrap the Code. Replace it with a depositor-first resolution law passed by Parliament. Question the chair. #Resign_Nirmala_Sitharaman,. #SCRAP_IBC,

The Bankruptcy Bazaar: How India’s Ill-Conceived Insolvency and Bankruptcy Code (IBC) Turns Public Money into Private Profits by DebaprasadBandyopadhyay Via Flickr: onceinabluemoon2021.in/2026/01/05/the-bankruptcy-bazaar-h... This article delivers a comprehensive indictment of India’s Insolvency and Bankruptcy Code (IBC), 2016, exposing it as a structurally predatory regime that facilitates crony expropriation rather than genuine resolution. Through doctrinal analysis, tribunal data, and emblematic case studies—Videocon, Aircel, Essar Steel, Bhushan Power, Reliance Communications, and most starkly DHFL—it demonstrates how time-bound resolution is a legal fiction, recoveries are abysmally low, avoidance provisions are systematically neutralised, and fraud is laundered through procedural finality. The DHFL case emerges as the perfect crime scene: mass dispossession of 2.5 lakh retail savers, assignment of vast avoidance recoveries at notional value to the acquirer, and judicial deference that extinguished constitutional claims. Situated within a wider political economy of crony capitalism and opaque political funding, the IBC is shown not as a failed reform but as rule by plunder—an insolvency regime that has gone rogue.

The Bankruptcy Bazaar: How India’s Ill-Conceived Insolvency and Bankruptcy Code (IBC) Turns Public Money into Private Profits by DebaprasadBandyopadhyay Via Flickr: onceinabluemoon2021.in/2026/01/05/the-bankruptcy-bazaar-h... This article delivers a comprehensive indictment of India’s Insolvency and Bankruptcy Code (IBC), 2016, exposing it as a structurally predatory regime that facilitates crony expropriation rather than genuine resolution. Through doctrinal analysis, tribunal data, and emblematic case studies—Videocon, Aircel, Essar Steel, Bhushan Power, Reliance Communications, and most starkly DHFL—it demonstrates how time-bound resolution is a legal fiction, recoveries are abysmally low, avoidance provisions are systematically neutralised, and fraud is laundered through procedural finality. The DHFL case emerges as the perfect crime scene: mass dispossession of 2.5 lakh retail savers, assignment of vast avoidance recoveries at notional value to the acquirer, and judicial deference that extinguished constitutional claims. Situated within a wider political economy of crony capitalism and opaque political funding, the IBC is shown not as a failed reform but as rule by plunder—an insolvency regime that has gone rogue.

The Bankruptcy Bazaar: How India’s Ill-Conceived Insolvency and Bankruptcy Code (IBC) Turns Public Money into Private Profits by DebaprasadBandyopadhyay Via Flickr: onceinabluemoon2021.in/2026/01/05/the-bankruptcy-bazaar-h... This article delivers a comprehensive indictment of India’s Insolvency and Bankruptcy Code (IBC), 2016, exposing it as a structurally predatory regime that facilitates crony expropriation rather than genuine resolution. Through doctrinal analysis, tribunal data, and emblematic case studies—Videocon, Aircel, Essar Steel, Bhushan Power, Reliance Communications, and most starkly DHFL—it demonstrates how time-bound resolution is a legal fiction, recoveries are abysmally low, avoidance provisions are systematically neutralised, and fraud is laundered through procedural finality. The DHFL case emerges as the perfect crime scene: mass dispossession of 2.5 lakh retail savers, assignment of vast avoidance recoveries at notional value to the acquirer, and judicial deference that extinguished constitutional claims. Situated within a wider political economy of crony capitalism and opaque political funding, the IBC is shown not as a failed reform but as rule by plunder—an insolvency regime that has gone rogue.

The Bankruptcy Bazaar: How India’s Ill-Conceived Insolvency and Bankruptcy Code (IBC) Turns Public Money into Private Profits by DebaprasadBandyopadhyay Via Flickr: onceinabluemoon2021.in/2026/01/05/the-bankruptcy-bazaar-h... This article delivers a comprehensive indictment of India’s Insolvency and Bankruptcy Code (IBC), 2016, exposing it as a structurally predatory regime that facilitates crony expropriation rather than genuine resolution. Through doctrinal analysis, tribunal data, and emblematic case studies—Videocon, Aircel, Essar Steel, Bhushan Power, Reliance Communications, and most starkly DHFL—it demonstrates how time-bound resolution is a legal fiction, recoveries are abysmally low, avoidance provisions are systematically neutralised, and fraud is laundered through procedural finality. The DHFL case emerges as the perfect crime scene: mass dispossession of 2.5 lakh retail savers, assignment of vast avoidance recoveries at notional value to the acquirer, and judicial deference that extinguished constitutional claims. Situated within a wider political economy of crony capitalism and opaque political funding, the IBC is shown not as a failed reform but as rule by plunder—an insolvency regime that has gone rogue.