The Insolvency and Bankruptcy Code, 2016 (‘Code’) has transformed the insolvency landscape in India by creating a comprehensive ecosystem to resolve insolvency and provide faster and efficient exit framework for corporates. With the present economic rebound, Insolvency reforms are slowly regaining momentum with an underlying imperative to aid businesses cope with the financial impact of the pandemic by swift recovery of debts, resolution of insolvencies and faster liquidation of unviable businesses. The Code is a dynamic legislation that needs to be reviewed from time to time to respond to emerging market needs, implementation hurdles and challenges of stressed assets globally.

Against this backdrop, CII along with National Foundation for Corporate Governance (NFCG) – a Ministry of Corporate Affairs led initiative and Insolvency and Bankruptcy Board of India (IBBI) organized a one-day Conference titled “Insolvency and Bankruptcy Code - Evolving Paradigms and Reforms” on Thursday, 13 April in New Delhi.

The Conference focused on the following key themes:

• Insolvency And Bankruptcy Code - Journey till Date - Global trends in Insolvency and Bankruptcy landscape; Roadblocks, Experience, Solutions, Success and Nuances of IBC; Evolving jurisprudence since inception of Code and ADR in IBC framework

• Reforms To Strengthen Processes Under IBC - Success of Resolution vs. Liquidation; CIRP - Reduction of delays and value maximization; Streamlining the Liquidation process and Code of conduct for Committee of Creditors

• Pre-Pack Mechanism and Cross Border Insolvency - Nuances of Pre-pack mechanism; Extension of pre-pack provisions to large corporate debtors; Carve-outs in Indian context and Flexibility/ relaxation in CIRP of foreign companies

• Stressed Assets – New Investment Avenues - Investment in stressed assets - Scope and opportunities; Valuation framework and ecosystem; India distressed assets market – the time is .