Mint Explainer | IBC’s clean slate: How new law gives firms a true fresh start, voids old debt claims

The IBC, in its original form, embodied this spirit in its intention for the new investor to have a fresh start and for all past claims to be eliminated except those provided for in the corporate rescue plan. But this is an area that is often the subject of litigation, where creditors, including government authorities, go after the rescued company under the management of its new owner.