INSOLVENCY ACT- Is it the time to meet your fortune teller?

Since the introduction of insolvency and Bankruptcy Code (IBC) fortunes of many had changed overnight. Till then, holding on to the ownership of an entity was considered as a divine right- a Right which no one can question. Since the introduction of the IBC, many stalwarts

who owned conglomerates had to step down from their adobes of comfort and face the hard reality of losing control over their business. In recent days many big corporate names appeared in newspaper headlines for wrong reasons.