The International Women’s Insolvency & Restructuring Confederation (IWIRC) India recently hosted a conference themed as ‘Combating Insolvency & Bankruptcy Intelligently – A Conversation with IBC Experts’. With over a reasonable seeding time to the Insolvency & Bankruptcy Code 2016 (IBC), the conference aimed at deliberating upon the various hits and misses it has had so far. The gathering was a blend of IPs, IPEs, Lawyers, In-House Counsels, Chartered Accountants, Bankers, Financial Experts and Company Secretaries from various industry domains of the India Inc. The conference was an insightful set of discussions in terms of how the Code has transitioned over the last two years and the role that the professionals and regulatory authorities have played in order to ensure, it achieves its objectives.
“It was indeed an interesting session by the experts from various domains at the IWIRC India Conference 2019. IWIRC is a strong networked confederation committed to deliberate and share knowledge amongst experts and professionals across the globe.” said Ms. Maneesha Dhir, Co-Chair, IWIRC India.
The event commenced with the inaugural address by Mr. Amarjit Singh Chandhiok, Senior Advocate who presented an overview of the Insolvency & Bankruptcy Code 2016 (IBC), the role of Insolvency Professionals (IP) and the various amendments to the Code. The inaugural speech was followed by individual addresses of the dignitaries encompassing various aspects of the code and the practicalities involved in decoding the intricacies of the Act.
Ms. Meenakshi Arora, Senior Advocate, debated the dichotomy created between operational and financial creditors under the IBC with real life examples. She also focused on the earlier ambiguity faced by home buyers, who were later given the status of ‘financial creditors’.
Ms. Alka Kapoor, CEO of ICSI Insolvency Professional Agency, discussed the ‘Regulatory Expectations from Insolvency Professionals’ and cited landmark judgments of Supreme Court as well as NCLAT and their impact on IPs.
Mr. Anuj Jain, Partner, Deal Advisory team of BSRR & Co. shared his perspective as a Resolution Professional and the practical challenges faced by the RPs under the IBC.
Mr. Alok Dhir, Managing Partner, Dhir & Dhir Associates concluded the session with discussion on the existing framework of the IBC and interpretations by various judicial forums.
Founded in 1994, IWIRC is the premier networking organization devoted to the advancement of professionals in insolvency and restructuring. Initially, it was an organisation for the advancement of women professionals, but now it has evolved and diversified to include both men and women attorneys, insolvency professionals, insolvency professional entities, General Counsels, turnaround managers, bankers, financial advisors and other restructuring practitioners. In its 25th year, IWIRC has been connecting professionals worldwide. IWIRC Network has now grown to 5 continents, 22 countries with 45 networks of more than 1,300 members. The membership fees is $75 and you may register online at the following link https://www.iwirc.com/ user/register For more information, visit us at www.iwirc.com
The India Network of IWIRC was established in 2014. The 2017 India board includes Maneesha Dhir, Kosturi Ghosh, Mamta Binani, Upasana Rao, Riddhi Dalal, Poonam Rawat and Srishti Dhir.w
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