Gujarat on awareness spree!
Organises
Bankruptcy
Awareness
Programme
The
Insolvency and Bankruptcy Board of India (IBBI), in association with the three
Insolvency Professional Agencies, namely, the Indian Institute of Insolvency
Professionals of ICAI, the ICSI Institute of Insolvency Professionals, and the
Insolvency Professional Agency of Institute of Cost Accountants of India,
organised an Insolvency and Bankruptcy Awareness Programme at Vadodara, Gujarat
recently.
A
large number of stakeholders, including students, professionals, bankers, and
business persons participated in the programme.
While
inaugurating the programme, Hon’ble Mr. H. P. Chaturvedi, Member-Judicial,
National Company Law Tribunal-NCLT, Ahmedabad detailed the role of the
Adjudicating Authority in respect of Corporate Insolvency Resolution and
Liquidation Processes under the Insolvency and Bankruptcy Code, 2016 (Code).
He
stated that the Code is a dynamic law and is evolving continuously to meet
emerging needs. Resolution Professional is the fulcrum of the insolvency
resolution process. He conducts the process with all fairness and equity in
addition to managing operations of the ailing corporate debtor as a going
concern. He mentioned that an Insolvency Professional has a social
responsibility and accountability, as the outcome of the resolution process
directly or indirectly affects livelihood of many stakeholders.
In his presentation, Mr. Rameshwar Dhariwal,
Chief General Manager, IBBI mentioned that while the law is new, there has been
considerable learning over the last two years of its implementation and the law
is getting settled with judicial pronouncements. He provided an overview of the
Code and the role of IBBI in the ecosystem, besides clearing doubts of the
participants.
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