MoS says literacy and education must be reimagined as instruments of empowerment (See 'Corp Brief') Workshop on Data Harmonisation for Data Driven Governance held (See 'Corp Brief') DAHD strengthens Surveillance, Vaccination and Disease-Control Measures (See 'Corp Brief') PM-SETU strengthens Industry-Led ITI Transformation (See 'Corp Brief') Competition Act - Allegations of anti-competitive agreements and abuse of dominant position cannot be sustained on basis of information which is generic, speculative, lacking in foundational facts & not backed by cogent evidence: CCI (See 'Legal Desk') DFPD and FCI sign MoU for to Strengthen Efficiency in Foodgrain Management (See 'Corp Brief') STPI Organises Electropreneur Summit 2026 at IIIT-Delhi (See 'Corp Brief') India-Japan Joint Working Group Meeting on Forests held at Bengaluru (See 'Corp Brief') AI keeps an Eye on 'Cattle of the Hills' (See 'Corp Brief') IBC - Act of IRP in releasing direct payments to an un-engaged secondary advocate without a formal direct engagement letter, independent invoices in payee's name, violates professional standards & regulatory requirements under IBC Code of Conduct, irrespective of subsequent ratification by CoC: IBBI (See 'Legal Desk') Next-Gen Aquaculture in India: Harnessing RAS and Bio-floc Technology in Blue Economy (See 'Corp Brief') Fighting Air Pollution is continuous Programme: EFCC Secretary (See 'Corp Brief') From Struggles to Success: KVIC is Inspiring Entrepreneurial Journeys (See 'Corp Brief') NI Act is not primarily punitive rather is compensatory in nature, with focus on recovery of amount in question: HC (See 'Legal Desk') India should target 10 Million Medical Value Tourists Annually: Goyal (See 'Corp Brief') CIL's daily Average Production Rises 35% (See 'Corp Brief') e-FAST India launches PACT to support accelerated zero-emission freight deployment in India (See 'Corp Brief') Chouhan reviews action plan for strengthening KVKs through greater State participation (See 'Corp Brief') CPC - leave granted u/s Clause XII of the Letters Patent confers jurisdiction exclusively on High Court & does not bind or preserve the territorial jurisdiction of a subordinate civil court upon transfer: HC (See 'Legal Desk') Minister says early industry participation can make technologies market-ready (See 'Corp Brief') Dynamic Local Level Planning imperative for documenting Local Biodiversity: Yadav (See 'Corp Brief') National Zoological Park Organises Sunday Bird, Butterfly and Dragonfly Walks to Promote Science (See 'Corp Brief') SEBI - Writ court's intervention is required in a private contractual dispute between petitioner & broker where any contractual or statutory remedies available under SEBI Act is not invoked: HC (See 'Legal Desk') 1st Batch of Corporate Mitra Course Commences with 2879 Learners registered (See 'Corp Brief') SAIL posts strong sales and production growth in August 2026 (See 'Corp Brief') SEBI - Any notice or assessment order is invalid where passed in respect of an entity that has been struck off Register of Companies & has since been dissolved: SEBI (See 'Legal Desk') MoS felicitates 'Team India School Children' for Historic Best-Ever Performance (See 'Corp Brief') Coal India Output and Dispatch Set to Accelerate as Monsoon Effect Wanes (See 'Corp Brief') Wow! 7.8% growth but it also does not reveal many things! (See CORP EINSICHT)

Print

IICA inaugurates 6th batch of Post Graduate Insolvency Programme

Published: Jul 10, 2024

 

By TIOLCorplaws News Service

NEW DELHI, JULY 10, 2024: THE Indian Institute of Corporate Affairs (IICA), Ministry of Corporate Affairs, inaugurated the sixth batch of its flagship Post Graduate Insolvency Programme (PGIP) in Manesar, on 8th July 2024. The ceremony was graced by distinguished luminaries including Hon'ble Justice S. Ravindra Bhat, Judge, Supreme Court of India (Retd.), Dr. Ajay Bhushan Prasad Pandey, Director General and CEO, IICA & Chairperson of National Financial Reporting Authority, Dr Alok Srivastava, Former Technical Member, NCLAT, Sudhaker Shukla, Whole Time Member of IBBI, and Dr. K.L Dhingra, Head of the Centre for Insolvency and Bankruptcy at IICA.

In his inaugural address as the Chief Guest, Hon'ble Justice S. Ravindra Bhat highlighted the journey of IBC over the last eight years and compared the objectives of IBC, 2016 with RDB Act 1993 and SARFEASI Act 2002 and how the earlier laws were fragmented. The role of NCLT, NCLAT, CIRP, the role of IPs under IBC and its unified & time-bounds process were highlighted. The Hon'ble Justice also spoke about the importance of an efficient resolution process, prioritisation, and the importance of CIRP over Liquidation. The Chief Guest also flagged the challenges before the IBC, 2016 such as timely resolution, infrastructure issues, resolution and recovery etc. He further touched upon the role of IPs including the skill sets required by them such as Resolution and Negotiation Skills, Management Skills and their role in collecting claims, assets, finances, constitution of CoC, regulating the voting process in CoC and changes in credit culture post introduction of IBC 2016 in India.

Dr. Alok Srivastava, former Union Secretary, Law & Justice and former Member (Technical), NCLAT, shared his experience about the IBC matters and also highlighted the IPs role as a fulcrum in the entire resolution process. He spoke about the ease of doing business, the law of limitation, and related party transactions that were addressed in the IBC process besides covering the IBC model borrowed from the UK Common Law system.

In his address on the occasion, Mr. Sudhaker Shukla, WTM of IBBI, highlighted the observations of the Prime Minister of India on the recent occasion of the 90 th Anniversary of the RBI wherein the PM spoke on the ‘strategy of recognition, resolution and recapitalisation'. He said that the problem of twin balance sheets is a problem of the past. Mr. Shukla also mentioned that the success of IBC can be seen from the number of Resolutions (close to 1000) during the current year, the number of Withdrawal of Applications under IBC and 131 percent of resolutions over liquidations from the last 8 years. He also stated that the creation of IBBI as a regulator for Insolvency and Bankruptcy and the PGIP for the young professionals are the first of its kind innovations.

Dr. K.L Dhingra, Head of the Centre for Insolvency and Bankruptcy narrated the success stories of PGIP alumni and the role of this course in the Insolvency and Bankruptcy space; and the role of ethics in the resolution process.

Earlier, in his welcome address, Dr. Ajay Bhushan Prasad Pandey, DG and CEO of IICA, spoke about the robust insolvency framework and the bedrock for a healthy credit culture it provides to creditors. He said that insolvency resolution is the key to unlocking productive assets and preventing value destruction. He also highlighted the pivotal role insolvency professionals play in maintaining public faith in the financial system. He also stated that the IBC has much larger objective of contributing to strengthening the national economy, as compared to being used as a tool for NPAs' resolution.

The inauguration of the sixth batch of the Post Graduate Insolvency Programme at IICA signifies a commitment to create young and skilled professionals for excellence and leadership in the field of Insolvency and Bankruptcy in India. The programme has been received very well by the different stakeholders in India, after its start in the year 2019.

The start of Post Graduate Insolvency Programme at IICA represents a concerted effort of IBBI and IICA to enhance knowledge and expertise in corporate insolvency and bankruptcy. It aims to equip participants with advanced skills and insights crucial for navigating the complexities of corporate restructuring and insolvency proceedings. Dr. Pyla Narayana Rao, Associate Professor, IICA proposed a vote of thanks in the programme.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.