Once in a Blue Moon Academia (OBMA)

  FINANCE MINISTER and CORPORATE AFFAIRS MINISTER: RESIGN! SCRAP IBC! Posted on 23rd July, 2026 (GMT 11:55 hrs) ABSTRACT In the shadow of nationwide student uprisings demanding the resignation of Education Minister Dharmendra Pradhan and the overhaul of NEET and the NTA, this manifesto stands in unbreakable solidarity and expands the battlefield: Finance and Corporate Affairs Minister Nirmala Sitharaman must resign, and the Insolvency and Bankruptcy Code 2016 must be repealed outright. Under her dual ministries the IBC has delivered its true design—nearly one lakh mostly elderly DHFL depositors stripped of 77 percent of their AAA-rated savings while ₹45,050 crore in proven fraud claims were sold to the acquirer for one rupee and wiped clean by the retrospective shield of Section 32A. A law sold as swift justice now averages 688–853 days, recovers only 31–33 percent, and has been rewritten by at least six parliamentary amendments plus 122 regulatory tweaks in nine years. Financial f...

  Manifesto for Scrapping the Ill-Conceived Insolvency and Bankruptcy Code (IBC) 2016 Posted on 22nd January, 2026 (GMT 07:55 hrs) ABSTRACT This manifesto advances a sustained, evidence-based critique of India’s Insolvency and Bankruptcy Code (IBC), 2016, arguing that the regime has evolved into a structurally predatory legal apparatus that facilitates large-scale transfer of public, depositor, and taxpayer-backed wealth into private corporate hands under the guise of “efficient insolvency.” Drawing on IBBI data up to 2025, landmark cases such as DHFL, Bhushan Power & Steel, Videocon, and Aircel, and recent Supreme Court jurisprudence, the analysis demonstrates how the IBC has systematically failed its own statutory promises of time-bound resolution, value maximization, equitable treatment, fraud recovery, and economic revival. Instead, prolonged delays, extreme haircuts averaging 67–68%, marginalization of retail depositors and public-interest claims, laundering of fraud ...