After 30 years of building Su-Kam, I walked through liquidation myself. Here is what the IBC actually does to an entrepreneur — and why the Delhi High Court’s judgment in my case is a turning point.
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I had arranged a 250-crore rescue for Su-Kam. Then Section 29A, a law that did not yet exist, was made retrospective and used to disqualify me from saving the company I built.
When NCLT ordered liquidation of Su-Kam Power Systems, 2000 people lost jobs in one day. The founder tells what really happens when the system shuts down a company — the families, the theft, the destruction. Part 2 of The IBC Files series.
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