Section 29A IBC: The Law That Bars Promoters from Bidding
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.
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.
How IBC manufacturing entrepreneurs are destroyed by banks, Section 29A, and CoC control—Kunwer Sachdev on India’s broken insolvency system.
Kunwer Sachdev on Su-Kam solar projects — the 1 MW Punjab Engineering College plant, Assam Rifles off-grid sites, Malawi’s wind-solar hybrid and 40,000 UP…
How Su-Kam built the Walmart Easyday power backup — a 25KVA inverter, 360V battery bank and a load-shedding ladder that kept Bharti Walmart’s stores running.
IBC amendments since 2016 have strengthened banks while ignoring entrepreneurs. Kunwer Sachdev on how India’s insolvency law became a bank recovery tool.
Su-Kam built India’s first Facebook solar community in 2009 — 143,000 members strong — years before digital marketing became a standard. Kunwer Sachdev on why he bet on social media when the entire industry was still running newspaper ads.
When the United Nations’ WIPO selected Kunwer Sachdev for a feature interview on Indian innovation and IP, it was recognition of Su-Kam’s patent legacy on a global stage. A personal account of what being featured by WIPO taught him about protecting Indian innovation.
How Su-Kam scaled from a single factory to 6 manufacturing plants across Gurgaon, Baddi and Katha. The Reliance-Temasek $10 million investment, the world-class corporate HQ, and the SMF battery factory — a dream project that taught one of the most expensive lessons in Indian manufacturing.
Between 2002 and 2005, Su-Kam launched three innovations that rewrote India’s power backup industry: the first DSP sine wave inverter (with Jagdeep Chauhan), the Solar Home Lighting System, and the ‘Home UPS’ — a new product category that the entire industry adopted within a year. Also: the first BEE 4-star inverter and how an airplane overhead panel inspired our LED indication system.