Jab company apne debts repay nahi kar pati, to pura ecosystem – lenders, vendors, employees – risk me aa jata hai. Modern insolvency regimes ka focus simple hai: timely resolution, value preservation, aur clear priority rules.
Creditors (specially financial creditors) ko structured role diya jata hai – committee of creditors (CoC) bana ke wo decide karte hain ki company ko:
- Revival plan ke through rescue karna hai,
- Strategic buyer ko bechna hai,
- Ya irrecoverable situation me liquidation ka route lena hai.
Promoters historically company ke master the, lekin insolvency process me unka control drastically reduce ho sakta hai. Management ko professional resolution professional ke paas transfer kiya ja sakta hai. Promoter ke liye backdoor entry restrict karne ke liye disqualification norms bhi aaye hain in many jurisdictions.
Operational creditors (vendors, trade suppliers) ko bhi defined rights milte hain, lekin unka voting say limited ho sakta hai. Employees ka unpaid wages, statutory dues, secured lenders, government dues – sab ke liye waterfall priority structure hota hai.
Key message business community ke liye: insolvency ab endless limbo nahi, time-bound process hai. Discipline se pehle hi restructuring kar lena better hai, warna control aur value dono slip ho sakte hain.