‘IBC is a good medium for a time-bound liquidation’

Source: The Hitavada      Date: 20 May 2018 09:37:27


 

Business Bureau,

The Nagpur Branch of WIRC of The Institute of Chartered Accountants of India (ICAI) organised a two day training programme for preparation of Insolvency and Bankruptcy Board of India’s (IBBIs) Limited Insolvency Examination for chartered accountants.


The chief guest and keynote speaker, Anantramiah Shridhar, Asst General Manager of Bank of India inaugurated the training programme. He said, “Proper valuation of the company undergoing corporate insolvency process plays a major roles in deriving the true benefits through the Insolvency and Bankruptcy Code, 2016”. He said, “Insolvency Bankruptcy Code (IBC) is a good medium for a time bound resolution and liquidation”. He informed the participants that the IBC Code 2016 is more focused to protect corporate lenders so that the lenders do not suffer adversely due to the initiation of insolvency process. He said that the liquidation proceeding should be resorted as the last option and efforts should be taken by the insolvent professionals that a good resolution plan should be chalked out in the interest of the all stakeholders.


Chairman CA Umang V Agrawal highlighted that huge professional opportunity lies for chartered accountants by way of representing clients under both the Acts. The training programme had speakers CA Swapnil Agrawal, CA Charudutt Marathe, CA Priti Savla, Regional Council Member and CS Rishikesh Vyas, Past Chairman of WIRC of ICSI as expert faculty who guided the participants on various aspects related to the IBC, 2016.