Series · Founder archive
The IBC Files
Eleven essays from inside India’s Insolvency and Bankruptcy Code — CIRP, Section 29A, liquidation, personal insolvency, and the operational-creditor wipeout — written by a founder who lived them.
This is the IBC series. It is separate from The Manufacturing Mirage (hardware, patents, VC, and reform spine).
All 11 essays
- Article 1: IBC Amendments: Who Do They Really Serve?
- Article 2: How IBC, Banks & Bureaucracy Destroy Manufacturing Entrepreneurs
- Article 3: IBC: A Debt Trap for Entrepreneurs — My Personal Ordeal
- Article 4: Fair Value vs Liquidation Value Under the IBC
- Article 5: Section 29A — The Law That Bars Promoters from Bidding
- Article 6: Inside the CIRP — 180 Days of Founder Helplessness
- Article 7: What Happens in NCLT Liquidation: The Su-Kam Case
- Article 8: The Entrepreneur as Criminal — Human Cost of the IBC
- Article 9: Personal Insolvency — The Last Straw
- Article 10: IBBI Penalised the RP & Liquidator — No Compensation for the Entrepreneur
- Article 11: The Silent Bloodbath — How IBC Wipes Out Operational Creditors
Start here
New to the archive? Begin with Article 6 — Inside the CIRP, then Article 11 — Silent Bloodbath for how suppliers are zeroed out.
Kunwer Sachdev
Founder, Su-Kam Power Systems (1988–2019) — the Inverter Man and Solar Man of India. Read his story →
Disclaimer: Kunwer Sachdev exited Su-Kam in 2019 and is not responsible for any activity of the company since. Full disclaimer →