A BRIEF INTRODUCTION: TO THE INSOLVENCY AND BANKRUPTCY CODE, 2016
The Insolvency and Bankruptcy Code, 2016 (IBC) was passed by the Parliament on 11 May 2016. The new legislation aims at bringing a paradigm shift in the existing bankruptcy and insolvency ecosystem. It aims to bring in a regime of ‘Creditor in control’ by changing the erstwhile regime of ‘Debtor in possession’. The IBC 2016 is a great move in the direction of consolidating all existing insolvency related laws. Furthermore, it has amended multiple legislations including the Companies Act to bring the entire bankruptcy and insolvency process under one umbrella. The Code has an overriding effect on all other laws and aims to resolve insolvencies in a strict time-bound manner. To achieve this purpose, the Code has established an Insolvency and Bankruptcy board as an independent body for the administration and governance of Insolvency & Bankruptcy Law.
The Insolvency and Bankruptcy Code passed by the Parliament is a welcome overhaul of the existing framework dealing with the insolvency of corporates, individuals, partnerships and other entities. It paves the way for much-needed reforms while focussing on creditor driven insolvency resolution.
THEME OF THE WORKSHOP:
Ever since its inception in the year 2016, “the Insolvency and Bankruptcy Code (IBC)” has been gaining great prominence and importance by streamlining the entire bankruptcy & insolvency process. The new code has not only consolidated the various erstwhile Insolvency and Bankruptcy legislations; but at the same time, it has also created new job avenues and employment opportunities for the students of different disciplines.
A brief knowledge regarding the IBC and the entire insolvency & bankruptcy process has become a sine-qua-non for any law student seeking a job at a corporate institution. Keeping the ever-growing utility of the IBC in mind, we propose to conduct a one-day workshop on the subject. The workshop will be conducted under the supervision of the experts having first-hand experience with the working of the IBC. This will help in appraising the participants with the nuances of this code.
Date: Sep 15, 2018.
✦ Registration: 10:00-10:30am
✦ Inaugural Session: 10:30-11:30am
✦ First Session: 11:30-1:00pm
✦ Lunch: 1:00-2:00 pm
✦ Second Session: 2:00-3:30 pm
✦ Third Session: 3:45-5:15 pm
✦ Closing Ceremony followed by High Tea: 5:15-5:30 pm
✦ Session 1: Imperatives for having the IBC and the insolvency and the bankruptcy ecosystem.
✦Session 2: Corporate Insolvency Resolution Process
✦ Session 3: Liquidation Process
✦Students of Banaras Hindu University: 300/-
✦Other Students: 500/-
✦The fee has to be submitted at the BA.LLB. office of the faculty of law, BHU.