This report by Once in a Blue Moon Academia indicts the IBC (Amendment) Act, 2026 as a high-speed polish on a structurally flawed regime. While promising faster resolutions and marginal creditor safeguards, it leaves untouched the core contradictions — especially the tension between Section 66 (fraud recovery for creditors) and Section 32A (clean-slate immunity) — that enabled the DHFL heist, where retail depositors lost 75–80% while fraud upside flowed to Piramal. The amendment accelerates crony capture rather than correcting it, turning bankruptcy into a profitable tool for the superrich at the expense of the common people.