IP Foundation Jointly with Insolvency and Bankruptcy Board of India (IBBI) and Vidarbha Industries Association Economy & Finance Forum organized a “Half day conference on Insolvency and Bankruptcy Code” today at VIA.
While inaugurating the conference chief guest, Dr. (Ms.) Mukulita Vijayawargiya, Whole Time Member, the Insolvency and Bankruptcy Board of India, New Delhi, stated the Insolvency and Bankruptcy Code, 2016 (IBC) Role is a very deep economic reform initiated in the recent years in the country and yet there is no parallel to the swift enactment and implementation of the law.
Tracing the path of economic reforms in the country, she stated that some businessmen earlier had ‘vested interests’ in failing businesses, and as a result, there was no competitive spirit among the entrepreneurs. The Code has introduced competition for entrepreneurship and capital. It encourages entrepreneurs to compete with one another to utilise the resources locked up in inefficient or defunct firms.
The objective of organizing this conference in the format of panel discussion is to create Legal literacy and awareness amongst participants about the recent developments and implication of Insolvency and Bankruptcy Code.
Eminent panellists were CA Snehal Kamdar (Managing Trustee – IP Foundation); CA Abizer Diwanji (Head restructuring E&Y); Sanjeev Pandey (SBI – DGM NCLT) and CA Prasad Dharap discussed on IBC embedding financial discipline in Indian economy & its importance in long run.
In the another discussion on “IBC valuations and real insight for entrepreneurs and investors” panellists were CMA Dushyant Dave; CA Pratik Singhi; Adv. Abhijeet Shinde (CAM); CA Rajesh Haldipuri (Tax Sutra), which was followed by concluding plenary.
Earlier Rohit Agrawal, Chairman of VIA Economy & Finance Forum addressed and shared his views on IBC and its impact on MSME industry.
IP Foundation Managing Trustee also shared his vision and object of the trust and announced a forming of Nagpur Chapter to be headed by CA Prasad Dharap. Further it was announced that IP Foundation will start IP Clinics and Insolvency Helpdesk at Nagpur shortly.
Prominently present were CA Jaideep Shah, CA Abhijeet Kelkar, CA Surendra Durugkar, CA Girish Deodhar, CA Omprakash Bagdia.
Bankers, Industry Members, Bankers, Practicing Corporate Lawyers and Advocates, Insolvency Professionals, Chartered Accountants, Company Secretary, Cost and Management Accountants were attended the program in large numbers.