4th Annual Insolvency Summit 2019
The IBC was hailed as a game-changing legislation and flagged by the banking regulator as the preferred mode of debt default resolution, at least in marquee cases involving large amounts of bad debt. It aimed at resolving corporate bankruptcy in a time-bound manner so that creditors recovered their dues partly while the said company was salvaged and given a fresh lease of life. The real picture however is that the NCLT infrastructure has proved inadequate for the humongous litigation unleashed by the IBC. Multiple factors including a shortage of judges, lack of well-established precedents, and challenges posed by former company owners, creditors and potential bidders have slowed down the pace of bad debt recovery apart from frustrating the efforts, time and money put in by investors seeking to close deals.
The recent Essar Steel Judgment has created quite a stir with questions like – “Has the NCLAT gone wrong in the Judgment, in order to bring the Insolvency Code to work better or in an attempt to be fair? Has the NCLAT over-interpreted the provisions of the IBC?” doing the rounds.
So, much as we’d like the IBC to steer India clear of debt and onto the road of a $10 trillion economy, this dream cannot be realized without a periodic review and refurbishment of the corporate insolvency resolution process. It is precisely with this objective in mind that Legal Era Magazine, with the support of Industry Experts & Thought Leaders, bring forth the key discussion at the 4th Annual Insolvency Summit 2019 on 18th October, 2019, at Taj Lands End, Mumbai, India.
The Summit will shine a light on critical issues concerning the IBC and help stakeholders plot their future course while taking into consideration both threats and opportunities.
Partner, National Leader, Financial Services
Amarjit Singh Chandhiok
Vice President & General Counsel
Justice A. K. Sikri
Justice S. J. Mukhopadhaya
Former Judge, Supreme Court of India
Jt. President & Head – Legal
Senior Managing Director
Nick S Wood
Head Legal, India & South East Asia
Padma Shri Dr. T.K. Viswanathan
R. K. Bansal
Managing Director & CEO
MD & Head
Partner, National Practice, Head - Banking & Finance
Shardul S Shroff
Siva S. Ramann
MD & CEO