DEA-IGIDR Roundtable on Elements of a sound bankruptcy process

15th May, 2015
Mumbai Cricket Association, BKC, Mumbai

This is the third in the bankruptcy reform roundtables. In continuation of the second bankruptcy in March 2015, we extend the discussion about critical aspects of an efficient bankruptcy process. In this roundtable, we discuss multiple themes ranging from clarity on what the legal framework for bankruptcy resolution in India seeks to achieve, and the form of the law that may achieve it, learnings from other countries and clarity on information systems for land as collateral, the difference in the role of the bankruptcy professionals and the role of the adjudicating authority for the bankruptcy process going forward. A central feature of this thinking is the focus on building an efficient bankruptcy process. Where efficiency continues to be measured in terms of the time taken and the economic costs incurred. Unlike the previous roundtable, in this session, we explicitly address the question of both individual as well as corporate resolution processes for the new bankruptcy law.


10:00 - 10:30 BLRC thinking about the Indian Bankruptcy Code [presentation]
Susan Thomas, IGIDR, FRG
10:30 - 10:50 Learnings from other jurisdictions: Corporate insolvency in the U.K. and Singapore [presentation]
Rajeswari Sengupta, IGIDR and Anjali Sharma, IGIDR FRG
10:50 - 11:10 Learnings from other jurisdictions: Individual insolvency in the U.K. and Australia [presentation]
Renuka Sane, ISI Delhi
11:10 - 11:30 Bankruptcy information systems: Issues of land as collateral in bankruptcy [presentation]
K. P. Krishnan, Dept. of Land Resources, Venky Panchapagesan and Madalasa Venkataraman, IIM Bangalore
11:30 - 13:00 Panel discussion with:
Ajay Choudhary, RBI
Puneet Duggal, MCA
Saurabh Jayawant, IFMR Capital
K. P. Krishnan, Dept. of Land Resources
Debanshu Mukherjee and Priya, Vidhi Center for Legal Policy
Badri Narayan, Third Eye Capital
Kannan Rahul, JSA Law
Richa Roy and Bahram Vakil, AZB Partners
Ajay Shah, NIPFP
M R Umarji, IBA
T. K. Viswanathan, Chairman of the BLRC
13:00 - 14:00 Lunch
14:00 - 14:30 Building an institution of Insolvency Practitioners for India [presentation]
Anirudh Burman and Shubho Roy, NIPFP
14:30 - 15:00 Learnings from the Financial Sector Appelate Tribunal Task Force [presentation]
Anirudh Burman and Pratik Dutta, NIPFP
15:00--15:45 Panel discussion
15:45--16:00 Closing remarks