S1 Ep1 Can a Creditor Really Take Over Your Company? | IBC Series

Can a creditor take over my company if I default on a loan?This is the first in our Insolvency & Bankruptcy Code (IBC) Series, where we look at the story behind the IBC, understand why it was enacted, what actually happens when a company defaults and clear some of the biggest misconceptions around the insolvency process.Understanding the problem and then the law, we shall explain concepts like Corporate Debtor, Default, CIRP, Moratorium and the role of the Interim Resolution Professional (IRP) through a practical case study.Provisions covered applicable to:• The Insolvency and Bankruptcy Code, 2016• Sections 3(8), 3(11), 3(12)• Sections 5(7) and 5(8)• Sections 6, 7, 13, 14, 16 & 17Read the Provisions from here, the bare act itself : https://ibbi.gov.in/uploads/legalframwork/2026-04-07-115842-i5nsk-7ed69ef2a4d23a8b0d472cc0fcd55e79.pdf