Supreme Court judge Justice Sanjeev Sachdeva on Tuesday said that the Insolvency and Bankruptcy Code should not be viewed as “a corporate death warrant,” emphasising that its primary objective is the revival of financially distressed companies through resolution rather than liquidation.
Speaking at the launch of IBC Mantra: The Law & Practice of the Insolvency and Bankruptcy Code, authored by Senior Advocate Tarun Gulati and Advocate Kumar Sambhav, Justice Sachdeva said the enactment of the IBC marked a “tectonic shift” in India’s insolvency framework.
According to him, it replaced a fragmented regime with a unified, creditor-in-control system.
“A common misconception is that IBC is a corporate death warrant. It is not. The primary…