NEW DELHI. The Indian Institute of Corporate Affairs (IICA), in collaboration with the Association of Insolvency Professional Entities, organised a National Conference on “Redefining India’s Restructuring Ecosystem” at the Pradhan Mantri Sangrahalaya Auditorium to commemorate ten years of the Insolvency and Bankruptcy Code (IBC). The event also witnessed the convocation of the sixth batch of the Post Graduate Insolvency Programme (PGIP), during which 40 graduates were awarded degrees. Academic excellence awards sponsored by AZB & Partners were presented to top performers Ashish Kumar, Arun Kumar and K. Geetha Vaishnavi. Welcoming the gathering, IICA Director General and CEO Gyaneshwar Kumar Singh highlighted the significance of the two-year residential programme, which enables graduates to qualify as insolvency professionals without the conventional ten-year experience requirement.
Delivering the convocation address, Justice Ashok Bhushan, Chairperson of the National Company Law Appellate Tribunal (NCLAT), said the Insolvency and Bankruptcy Code has evolved significantly over the past decade, with major legal and operational issues now settled through landmark judicial pronouncements. He described the period from 2016 to 2021 as the “era of establishment” and the current phase as the “era of refinement,” noting that the Insolvency and Bankruptcy Code Amendment Act, 2026, reflects the legislation’s continued evolution. Justice Anupinder Singh Grewal, President of the National Company Law Tribunal (NCLT), in his keynote address, emphasized the need for stronger judicial and institutional coordination to ensure timely insolvency resolutions and advocated the adoption of the UNCITRAL Model Law on Cross-Border Insolvency to enhance India’s attractiveness as a global restructuring destination.
Addressing the conference, Ministry of Corporate Affairs Secretary Deepti Gaur Mukerjee described the Insolvency and Bankruptcy Code as a transformative reform that has reshaped India’s financial and corporate ecosystem. She highlighted that nearly ₹4 lakh crore has been recovered through resolution processes, with creditors realizing around 170 percent of liquidation value, while more than 32,000 cases were settled before formal admission, preserving credit worth nearly ₹14 lakh crore. Referring to the recently enacted Insolvency and Bankruptcy Code Amendment Act, 2026, she said the reform would further strengthen the insolvency framework and support the national vision of building a developed India under Viksit Bharat.
