ABOUT THE DOUBLE CREDIT COURSE
The Centre for Banking and Insurance Laws of National Law University Odisha organised the “Practical Aspects of Insolvency Law” course, which was designed to equip legal professionals, financial experts, and business advisors with the practical knowledge and skills required to navigate the complex landscape of insolvency law. Delving beyond theoretical frameworks, this course focused on real-world applications, case studies, and hands-on exercises to provide a comprehensive understanding of the practical implications and challenges of insolvency law.
The Centre conducted a total of 14 sessions, each lasting 2 hours, spanning over 14 weeks or 3+ months and covering various aspects of The Insolvency and Bankruptcy Code 2016. The course emphasized practical aspects of the code, featuring experts in the field of Bankruptcy and Insolvency. An overview of each session has been provided herein.
The course was offered to students of NLUO as well as non-NLUO students, professionals, and academicians interested in the subject. The registration fee for the course was Rupees Five Hundred (Rs. 500) for NLUO students and Rupees One Thousand Five Hundred (Rs. 1500) for non-NLUO participants. The course attracted a total of 207 participants from across India.
This course was conducted online via Google Meet over 14 weeks, the course featured sessions from prominent legal experts from IBBI, NLUO, and other notable firms specializing in the Insolvency and Bankruptcy Code. Further we had a overwhelming response of over 200+ participants.
RESOURCE PERSONS
Name | Designation |
Dr. Mayank Tiwari | Associate Professor of Law, NLUO |
Dr. Ankeeta Gupta | Assistant Professor of Law, NLUO |
Dr. Dolly Jabal | Professor of Law, NLUO |
Mr. Snehal Kamdar | Representative from IBBI |
Mr. Surendra Garg | Representative from IBBI |
Mr. Utkarsh Trivedi | Associate, S&R Associates |
Dr. Dinkar T Venkat Subhramanian | Representative from IBBI |
Dr. M.S. Sahoo | Chairman, IBBI |
Mr. Aditya Parolia | Partner, PSP Legal, Advocates & Solicitors |
Mr. Piyush Singh | Partner, PSP Legal, Advocates & Solicitors |
Mr. Debajyoti Ray Chaudhari | MD and CEO, National E-Governance Service (NeSL) |
Dr. Abha Yadav | Assistant Professor of Law, National Law University, Delhi |
Dr. Risham Garg | Assistant Professor of Law, National Law University, Delhi |
Mr. Raghav Maheshwari | Manager at Insolvency and Bankruptcy Board of India |
SESSION OVERVIEW
Session | Keynote Speaker | Topic |
1 | Dr. Mayank Tiwari | History and Background of Insolvency Laws |
2 | Dr. Ankeeta Gupta | Overview of IBC |
3 | Dr. Dolly Jabal | Adjudicatory Mechanism in IBC |
4 | Mr. Snehal Kamdar | The Process of CIRP |
5 | Mr. Surendra Garg | Initiation of CIRP – Drafting of Documents |
6 | Mr. Utkarsh Trivedi | The Process of Making Information Memorandum |
7 | Dr. Dinkar T Venkat Subhramanian | The Process of Strategizing during CIRP |
8 | Dr. M.S. Sahoo | The Process of Strategizing by Resolution Applicant |
9 | Mr. Piyush Singh | Implications of Sector Specific Restrictions |
10 | Mr. Aditya Parolia | The Position of Home Buyers |
11 | Mr. Debajyoti Ray Chaudhari | Role of Information Utilities |
12 | Dr. Abha Yadav | Role of a Regulator |
13 | Dr. Risham Garg | The Role of Personal Guarantors |
14 | Mr. Raghav Maheshwari | Development of IBC and Cross-Border Applications |
SUMMARY OF ALL THE SESSIONS, EACH OF WHICH WAS OF 2+ HOURS
Session | Keynote Speaker | Topic | Description |
1 | Dr. Mayank Tiwari | History and Background of Insolvency Laws | Overview of insolvency laws evolution, focusing on reforms by the Bankruptcy Law Reform Committee (2014), enactment of IBC (2016), and the establishment of adjudicatory bodies to enhance transparency and efficiency. |
2 | Dr. Ankeeta Gupta | Overview of IBC | Insight into IBC’s key provisions, impact on recovery rates, efficiency, and protections for financial creditors, emphasizing its role in economic growth and financial stability. |
3 | Dr. Dolly Jabal | Adjudicatory Mechanism in IBC | Challenges faced by NCLT in adhering to IBC timelines due to complex cases, resource constraints, and surge in filings, with solutions for improving efficiency. |
4 | Mr. Snehal Kamdar | The Process of CIRP | Fundamentals of CIRP, including the role of resolution professionals, Committee of Creditors (CoC), and the importance of adhering to strict timelines for effective resolution. |
5 | Mr. Surendra Garg | Initiation of CIRP – Drafting of Documents | Essential documentation for initiating CIRP, including petitions, financial statements, and proof of default, highlighting the importance of procedural compliance. |
6 | Mr. Utkarsh Trivedi | The Process of Making Information Memorandum | Role of Information Memorandum (IM) in CIRP, focusing on data collection, analysis, and the importance of adhering to IBC timelines for efficient resolution. |
7 | Dr. Dinkar T Venkat Subhramanian | The Process of Strategizing during CIRP | Strategies in CIRP to maintain business continuity and maximize asset value, including operational stability, deal negotiation, and stakeholder collaboration. |
8 | Dr. M.S. Sahoo | The Process of Strategizing by Resolution Applicant | Strategies for resolution applicants in CIRP, including due diligence, robust resolution plans, creditor negotiations, and adaptability to navigate distressed business challenges. |
9 | Mr. Piyush Singh | Implications of Sector Specific Restrictions | Impact of sector-specific restrictions on CIRP, particularly in regulated sectors, emphasizing the need for regulatory compliance and collaboration for successful resolutions. |
10 | Mr. Aditya Parolia | The Position of Home Buyers | Evolution of home buyers’ status under IBC, reclassified as “financial creditors” with rights in CIRP and the ability to initiate insolvency proceedings against developers. |
11 | Mr. Debajyoti Ray Chaudhari | Role of Information Utilities | Role of Information Utilities (IUs) like NeSL in insolvency proceedings, ensuring transparency and efficiency by providing centralized financial data. |
12 | Dr. Abha Yadav | Role of a Regulator | Responsibilities of the Insolvency and Bankruptcy Board of India (IBBI), including setting standards, regulating professionals, and ensuring transparency in insolvency processes. |
13 | Dr. Risham Garg | The Role of Personal Guarantors | Role and liabilities of personal guarantors in CIRP, emphasizing the need for legal counsel and understanding of CIRP intricacies to mitigate risks. |
14 | Mr. Raghav Maheshwari | Development of IBC and Cross-Border Applications | Fundamental principles of insolvency, roles of stakeholders, and cross-border applications of IBC, emphasizing international cooperation and efficient resolution mechanisms. |
