Justice Vikram Nath, a Supreme Court Judge, stated that law should be “shared” rather than simply practised. This comment was made during the unveiling of “IBC Mantra: The Law and Practice of Insolvency and Bankruptcy Code,” a free online resource aimed at broadening access to legal knowledge. The event took place on August 5, 2026, at the S-Block Auditorium of the Delhi High Court, where Justice Nath discussed the vital role that legal commentaries play in developing jurisprudence.

He highlighted that a well-crafted commentary extends beyond merely detailing legal statutes; it explains the rationale behind legislative developments and the fundamental principles that inform them. Such insights are essential for both practitioners and judges in the legal community.

Comprehensive Resource for Legal Professionals

The digital platform, collaboratively authored by Senior Advocate Tarun Gulati and Advocate Kumar Sambhav, provides extensive commentary on the Insolvency and Bankruptcy Code (IBC) of 2016. It also includes updates on evolving jurisprudence from the Supreme Court, the National Company Law Appellate Tribunal (NCLAT), and the National Company Law Tribunal (NCLT). Notably, it is available at no cost to users.

Justice Manmohan praised the authors for offering this significant resource for free, referring to it as their “labour of love.” He expressed optimism that this initiative would motivate more accomplished legal professionals to contribute to the collective knowledge of the profession, particularly for newer members of the Bar.

Emphasising the increasing importance of access to legal knowledge, he noted that reliable resources will be vital as insolvency law continues to evolve.

Clarifications on Insolvency and Bankruptcy Code

Justice Sanjeev Sachdeva addressed common misunderstandings surrounding the IBC. He explained that the legislation is not intended to lead to the closure of companies. Instead, it aims to facilitate the resolution of financial distress, emphasising that liquidation should only be considered as a last option.

Chief Justice of the Delhi High Court, Devendra Kumar Upadhyaya, described the IBC as a pivotal legislative change in India since Independence. He stated that this law has reshaped the approach to financial distress by focusing on timely resolutions, preserving enterprise value, and balancing stakeholder interests. He pointed out that the effectiveness of any legal framework relies heavily on its interpretation and implementation.

Former Supreme Court judge, Justice (Retd.) Sudhanshu Dhulia, highlighted the IBC’s aim to consolidate fragmented insolvency laws and ensure timely resolutions. He welcomed the commentary as a valuable resource that would contribute to the effective judicial interpretation of the statute, which has been deemed “path-breaking” by the Supreme Court.

Authors’ Dedication and Project Details

In a brief overview of the project, Senior Advocate Tarun Gulati explained that the concept was initiated in 2019 and took a substantial period of seven years to complete. He stressed that the motivation behind this work was the belief that legal knowledge should remain accessible to all, particularly for young lawyers and students, regardless of financial constraints. The project is dedicated to the authors’ mentors.

Co-author Kumar Sambhav confirmed that the IBC Mantra platform is now live and freely available, underlining the significance of sharing knowledge alongside its publication. The launch event was attended by various legal professionals, including sitting judges from the Delhi High Court, senior advocates, insolvency experts, legal scholars, and law students.

During the ceremony, a hard copy of the commentary was presented to Senior Advocate N Hariharan, the President of the Delhi High Court Bar Association, marking a key moment in promoting access to legal resources.

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