Summaries by M. S. Sahoo, Raghav Pandey

2 summaries by this author.

Balanced

Personal guarantee muddle: no insolvency process can manufacture asset value that doesn't exist

India's IBC isn't a recovery law; large "haircuts" reflect economic reality, not legal failure. The Subhash Chandra case highlights the crucial distinction between claims and available assets. A personal guarantee is a contingent obligation, its value tied to the guarantor's estate. The article advocates for stronger investigative mechanisms in Part III of the IBC to identify hidden assets. It stresses that the law cannot create non-existent value. Scrutiny should enhance process effectiveness, not fault the law for estates lacking inherent value.

LiveMint · M. S. Sahoo, Raghav Pandey · Sep 21, 2026 at 8:30 AM

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Critical

Who moved my cheese? The IBC was designed to offer insolvent businesses beyond revival an exit path

Spencer Johnson's "Who Moved My Cheese?" underpins the IBC's core: accepting change and "letting go." India's IBC enforces timely economic adjustment. However, stakeholders—government, promoters, creditors, and judiciary—persistently resist this discipline. This collective discomfort with loss fuels endless litigation, causing costly delays and destroying value. The system now prioritizes resolution over liquidation, misinterpreting liquidation as failure. This systemic unwillingness to let go prevents the IBC from achieving its purpose: efficient resource reallocation, becoming a collective denial of changed economic realities.

LiveMint · M. S. Sahoo, Raghav Pandey · May 28, 2026 at 1:30 AM

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