Department of Youth Affairs to host BRICS Youth Council Meeting (See 'Corp Brief') IBC - Only crystallised claims as on effective date are payable on pro-rata basis from designated Operational Creditors Settlement Amount: SC (See 'Legal Desk') RDDBFI - Borrowers cannot cherry-pick figures from bank certificates while ignoring standard accounting treatment of interest after NPA classification: SC (See 'Legal Desk') IPR - Holding subsequent trademark registration does not override prior court injunction protecting visual get-up: HC (See 'Legal Desk') PSB Confluence 2026 - deposit mobilisation, banking for youth & investment cycles on agenda (See 'Corp Brief') A&C - Continuation of arbitration proceedings against some guarantors while statutory interim moratorium u/s 96 of IBC is in effect regarding 'debt' violates fundamental policy of Indian law: HC (See 'Legal Desk') IBC - Rights issue that does not comply with the mandatory timing and procedural requirements under company law, and which reduces majority shareholders into minority and transfers control, constitutes oppression: NCLT (See 'Legal Desk') DFS highlights mechanism for Timely Redressal of Insurance Policyholders' Grievances (See 'Corp Brief') CCRAS-NIIMH signs MoU with Sevadhi Museum and Indological Research Institute for Digitization (See 'Corp Brief') IBC - Second proviso to Rule 30(9) of Companies (Incorporation) Rules, 2014, acts as mandatory statutory bar, which prevents Regional Director from allowing shifting of registered office while appeal against resolution plan is pending: HC (See 'Legal Desk') Over 2 Lakh Villages, Now 'Har Ghar Jal' Certified (See 'Corp Brief') Companies Act - Assets of a company belong to the entity and its creditors, not its shareholders; transfer of company assets seemingly to place them beyond creditors' reach is impermissible: HC (See 'Legal Desk') MSDE convenes India-Japan Stakeholder Consultation to strengthen skilling (See 'Corp Brief') Competition law - Dealership termination, even if commercially harsh, does not by itself become competition law violation unless there is material showing an anti-competitive agreement causing dominance and abuse: CCI (See 'Legal Desk') Naidu flags off Tiranga Rally under Har Ghar Tiranga Campaign 2026 (See 'Corp Brief') IBC - EPC contract cannot be said to be frustrated by efflux of time merely because works have been suspended due to non-payment: SC (See 'Legal Desk') Capital Market - Trading while in possession of Unpublished Price Sensitive Information automatically triggers insider trading liability: SC (See 'Legal Desk') States recognised for Strong Performance in Anemia Mukt Bharat Abhiyaan (See 'Corp Brief') Misc - Winding-up proceeding and civil suit for recovery of money are distinct and independent remedies, and initiation of one does not impact limitation for other: SC (See 'Legal Desk') Patents - Invoking common general knowledge as basis for rejecting patent application without identifying & substantiating source of such knowledge is impermissible in a quasi-judicial order u/s 15 of the Act: HC (See 'Legal Desk') Gaj Gaurav Awards 2026 conferred for Exemplary Contributions to Elephant Conservation (See 'Corp Brief') IPR - In infringement action u/s 29(2)(b) of Trade Marks Act, where marks are similar but not identical, burden lies strictly on plaintiff to establish that similarity is likely to cause confusion: HC (See 'Legal Desk') Competition - Business model of online food delivery inherently differs from direct restaurant sales - price differential between two does not per se establish abusive conduct per the Competition Act: CCI (See 'Legal Desk') Tete-a-tete around AI in banking sector often begins with algorithms (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
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.