India, Aug. 22 -- There's a saying in boardrooms: "We never saw it coming." But the truth? Most companies do. They just don't talk about it.
Before the Insolvency and Bankruptcy Code (IBC), 2016 entered the scene, insolvency in India was like being stuck in a maze with no exit signs. Promoters would shuffle between BIFR, DRT, and courtrooms-losing time, money, and eventually, value. For many, delay was the default strategy. But what got lost in the noise was hope. Hope that revival was even possible.
So why does a company really head into insolvency?
It's rarely just "bad business." It's often a mix of delayed decision-making, mismatch between ambition and working capital, external shocks, or-in some cases-a simple refusal to pivot.
Now...