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Business Standard
3 days ago
- Business
- Business Standard
Best of BS Opinion: Myanmar tensions, Dubai's Malathon, and Sindoor lessons
The Insolvency and Bankruptcy Code (IBC) Amendment Bill aims to reinforce core principles while streamlining processes. By undoing the Vidarbha Industries and Rainbow Papers rulings, it restores the original insolvency trigger and prioritises secured creditors over government dues. It strengthens the 'clean slate' principle, binds all stakeholders to approved resolution plans, and safeguards existing licences. Tighter timelines for adjudicating authorities, incorporation of regulatory provisions into the Code, and new rules for creditor committees are notable steps. Yet, as M S Sahoo points out, persistent inequities — such as the gap between recoveries for financial and operational creditors — remain unaddressed, and cross-border provisions risk concentrating power with the executive. Shifting to the Northeast, political developments in Myanmar and Manipur carry significant regional implications. Myanmar's plan to hold elections in December 2025 comes even as civil war leaves border states vulnerable to Chinese influence. These tensions spill over into Mizoram, Nagaland, and Manipur, where infiltration from Myanmar is tied to ethnic strife between Meitei and Kuki-Zo groups. Measures like scrapping the Free Movement Regime and initiating border fencing may take years to complete. Resistance groups with cross-border ties remain active. As Aditi Phadnis notes, while President's rule in Manipur has reduced violence, incidents like the June 2025 protests show underlying divisions remain ahead of pivotal elections in Myanmar, India, and Bangladesh. In Dubai, coping with August heat that touches 50 degree Celsius has taken a novel turn. The 'Mallathon,' organised by the Dubai Sports Council, opens shopping malls early for walkers and joggers, creating climate-controlled fitness spaces. About 500 people participate daily, including corporate teams, with attractions like robotic humanoid races adding flair. Inspired by similar practices in colder regions abroad, the initiative, says Sandeep Goyal, has been embraced as an inclusive and practical response to extreme weather, even if some critics dismiss it as image-building. Meanwhile, Operation Sindoor has reignited debate on air force doctrines. The Pakistan Air Force traditionally focuses on fleet preservation and air-to-air combat tallies, while the Indian Air Force prioritises strategic objectives, even at higher aircraft loss rates. As Shekhar Gupta observes, the IAF's strikes on preselected targets contrasted sharply with the PAF's defensive posture, reflecting a longstanding divergence in approach. Finally, Kumar Abishek delves into the science of randomness, distinguishing it from unpredictability and highlighting its role in cryptography, simulations, and secure communications. Advances in quantum computing now allow certified randomness generation, a reminder of both technology's reach and nature's limits. Stay tuned!
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Business Standard
4 days ago
- Business
- Business Standard
IBC Amendment: More clarity, less reform, focuses on incremental fixes
By sidestepping deeper structural issues and leaning on delegated legislation, it offers incremental fixes where the system needs a transformative overhaul M S Sahoo Mumbai Listen to This Article The IBC Amendment Bill uses the phrase 'it is hereby clarified' 17 times. One such clarification restores the original trigger for initiating corporate insolvency resolution: Admission if a default exists, rejection if it does not, and no other grounds. This undoes Vidarbha Industries (2022) and reaffirms what the Bankruptcy Law Reforms Committee, the original notes on clauses, and Innoventive Industries (2017) had already settled. Another restores the original liquidation waterfall by overturning Rainbow Papers (2022), which had put government dues under the Gujarat Value Added Tax Act, 2003, at the same level as secured creditors. The Bill makes it clear
