12 July, 2018: The Indian Institute of Management Bangalore is organizing a workshop on Insolvency and Bankruptcy Code (IBC) on July 22 (Sunday), 2018 at the IIMB Auditorium.
The workshop coordinator is Prof. Jayadev M from the Finance and Accounting Area at IIMB. Email: jayadevm[at]iimb[dot]ac[dot]in
The topics to be covered at the workshop are:
IBC: Its provisions, structure and amendments of 2018; mechanisms for operational creditors, financial creditors and home buyers.
- Recovery Mechanisms under IBC vis-a-vis SARFAESI, Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and other legal mechanisms.
- Restructuring Mechanism – Asset restructuring companies, Takeover of management and Corporate financial restructuring strategies.
- Role of Insolvency Professionals, Insolvency Professional Agencies and Information Utilities.
The speakers of the workshop are leading law professionals, NCLT members, insolvency professionals, corporate financial consultants and academia. The speakers include Dr. Ashok Kumar Mishra, Member Technical NCLT Bangalore, Aparna Ravi, Samvad Partners, Sumana Rao, insolvency professional, Thirpal Gorgie, insolvency professional, and M Ramana, advocate.
Enactment of Insolvency and Bankruptcy Code (IBC) is a recent development in strengthening the institutional environment and governance.
This code formulates a legal mechanism for recovery of debts, and corporate restructuring. With the introduction of this code India rank jumped to 103 among 190 nations for resolving insolvency with an increase of 8% points from its previous ranking and on ease of doing business rank jumped to 100.
Insolvency and Bankruptcy Code (IBC) is a landmark law which consolidates the laws relating to insolvency of companies, partnerships and individuals, presently contained in several legislation's, into a single legislation.
This is intended to promote entrepreneurship and balance the interests of various stakeholders by protecting the value of assets and minimization of financial risks. It protects the corporates and creditors' interest without disrupting the functioning of the enterprise.
The recent amendments to the code, protecting rights of the home-buyers against the unscrupulous practices of the real-estate companies and safeguarding the Micro and Small Enterprises against the forceful recovery of debt are worth commendable.
IBC is an architecture developed on a strong reinforcing pillars with DRT and NCLT acting as Adjudicating Authorities, Insolvency and Bankruptcy Board of India (IBBI) as regulatory oversight over Insolvency Professionals, Insolvency Professional Agencies and Information Utilities.
Since its commencement in a short period of time, more than 700 cases have been admitted at all India level in 12 NCLT benches, while there have been 87 cases in which liquidation proceeding have been started and 22 cases got approval for their resolution plan. This is a remarkable achievement in Indian legal system.
This code is providing several opportunities for banks in recovery of the stressed debt and facilitate restructuring opportunities for corporate entities and promoting healthy business environment. This code also provides challenging career opportunities in the areas of insolvency resolution, corporate restructuring and liquidation.
12 July, 2018: The Indian Institute of Management Bangalore is organizing a workshop on Insolvency and Bankruptcy Code (IBC) on July 22 (Sunday), 2018 at the IIMB Auditorium.
The workshop coordinator is Prof. Jayadev M from the Finance and Accounting Area at IIMB. Email: jayadevm[at]iimb[dot]ac[dot]in
The topics to be covered at the workshop are:
IBC: Its provisions, structure and amendments of 2018; mechanisms for operational creditors, financial creditors and home buyers.
- Recovery Mechanisms under IBC vis-a-vis SARFAESI, Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and other legal mechanisms.
- Restructuring Mechanism – Asset restructuring companies, Takeover of management and Corporate financial restructuring strategies.
- Role of Insolvency Professionals, Insolvency Professional Agencies and Information Utilities.
The speakers of the workshop are leading law professionals, NCLT members, insolvency professionals, corporate financial consultants and academia. The speakers include Dr. Ashok Kumar Mishra, Member Technical NCLT Bangalore, Aparna Ravi, Samvad Partners, Sumana Rao, insolvency professional, Thirpal Gorgie, insolvency professional, and M Ramana, advocate.
Enactment of Insolvency and Bankruptcy Code (IBC) is a recent development in strengthening the institutional environment and governance.
This code formulates a legal mechanism for recovery of debts, and corporate restructuring. With the introduction of this code India rank jumped to 103 among 190 nations for resolving insolvency with an increase of 8% points from its previous ranking and on ease of doing business rank jumped to 100.
Insolvency and Bankruptcy Code (IBC) is a landmark law which consolidates the laws relating to insolvency of companies, partnerships and individuals, presently contained in several legislation's, into a single legislation.
This is intended to promote entrepreneurship and balance the interests of various stakeholders by protecting the value of assets and minimization of financial risks. It protects the corporates and creditors' interest without disrupting the functioning of the enterprise.
The recent amendments to the code, protecting rights of the home-buyers against the unscrupulous practices of the real-estate companies and safeguarding the Micro and Small Enterprises against the forceful recovery of debt are worth commendable.
IBC is an architecture developed on a strong reinforcing pillars with DRT and NCLT acting as Adjudicating Authorities, Insolvency and Bankruptcy Board of India (IBBI) as regulatory oversight over Insolvency Professionals, Insolvency Professional Agencies and Information Utilities.
Since its commencement in a short period of time, more than 700 cases have been admitted at all India level in 12 NCLT benches, while there have been 87 cases in which liquidation proceeding have been started and 22 cases got approval for their resolution plan. This is a remarkable achievement in Indian legal system.
This code is providing several opportunities for banks in recovery of the stressed debt and facilitate restructuring opportunities for corporate entities and promoting healthy business environment. This code also provides challenging career opportunities in the areas of insolvency resolution, corporate restructuring and liquidation.