Insolvency and Bankruptcy Board of India in association with Insol India organized an International Conclave 2024 on ‘Insolvency Resolution: Evolution and Global
Rbi Deputy Governor Shri M Rajeshwar Rao highlighted the important role of IBC in improving the quality of bank assets.
Mr. Ravi Mital, Chairman, IBBI stressed on the need to consider innovative methods such as arbitration, lender-led settlement process and group bankruptcy mechanism
The Insolvency and Bankruptcy Board of India (IBBI), in association with Insole India, has organised an international conclave on ‘Insolvency Resolution: Evolution and Global Perspective’. The event brought together eminent experts and physicians from various fields to share understanding and experience in resolving insolvency.
Reserve Bank of India Deputy Governor M Rajeshwar Rao was the chief guest on the occasion. He highlighted the transformative journey of the Insolvency and Bankruptcy Code (IBC) since 2016 and its important role in improving the quality of bank assets and facilitating substantial pre-admission resolution of underlying loans of over Rs 10 lakh crore. While acknowledging the substantial progress made in cleaning up the balance sheets of banks, the Deputy Governor also highlighted the potential areas of improvement. Emphasis on restructuring and recovery, as well as collaborative efforts among stakeholders.
Rajnish Kumar, former Chairman, State Bank of India delivered the special address. Based on his early experience as SBI Chairman in the early stages of IBC, he described the IBC as the most important economic reform and highlighted its transformative impact on the banking ecosystem. He emphasized that the real success of IBC should be measured not only by the recovery rate, but also by its massive success in restructuring the lender-lender relationship and enhancing the overall health of the banking sector. He stressed on the importance of the Committee of Creditors (CoC) to pursue the larger objective of price rise.
Dr Sonali Aberatne, Technical Director, Insol International also delivered a special address. In his address, he highlighted the core work and current initiatives of the organisation. He specifically discussed Insol International’s relationship with Insol India and emphasized the importance of international cooperation and glow sharing.
There were three panel discussions at the conclave. The first panel discussion was on the theme
There were three panel discussions at the conclave. The first panel discussion was on the theme “Problems in restructuring and bankruptcy in various sectors, recent developments and new trends”. The session was presided over by Sumant Batra, President, Insolvency Law Academy. Craig Martin, Global Co-Chair, Restructuring and Management Partner, DLA Piper, was the keynote speaker at the session. Josh Carles, Managing Partner, Charles, Kuesta, Spain; Mrs. Lauren Tang, Managing Partner, Virts Law, Stephenson Harwood; and Mr. Devanshu Mukherjee, Co-Founder and Head, Vidhi Centre for Legal Policy. The session was moderated by Ashwin Bishnoi, partner of Khaitan & Co.
The second panel discussion was on the theme of “Enforcement of ideas, asset recovery and personal guarantees”. The session was presided over by MCA joint secretary Anita Shah Akela. Steven Kargman, founder and president of Kargman Associates, was the guest of honour. Mrs. Amelia Tan, Counsel, Kerry Olsen Singapopo. read more
