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The Institute of Chartered Accountants of India (ICAI); a statutory body by an Act of Parliament presents RESOLVE-2023 which is an International Convention on Insolvency Resolution especially designed for the professional fraternity. The event, in its inaugural edition, would provide unique learning opportunity for the Professionals across the world to learn and share the best practices and developments in the space of insolvency resolution. It will also facilitate networking and indulge in deep insight and cross jurisdiction experience sharing with globally diverse practitioners through interactive discussion. The Convention assumes enormous significance as we experience vast economic uncertainties across the globe coupled with dynamic inflation and interest rates worries.
4th- 5th August 2023
Grand Copthorne Waterfront Hotel Singapore
Committee on Insolvency & Bankruptcy Code of ICAI
Insolvency and Bankruptcy Board of India
and
Indian Institute of Insolvency Professionals of ICAI
The Institute of Chartered Accountants of India, Singapore Chapter
CA. Aniket Sunil Talati
President ICAI
A comprehensive and coherent Insolvency Resolution Framework is one of the core pillars of economic growth of any nation and a strong resolution framework is indispensable for laying down the foundation for future sustainable development.
The Insolvency and Bankruptcy Code, 2016 (“Code” / “IBC”), was enacted in India to streamline the existing legal framework pertaining to insolvency resolution and to ensure resolution in a time bound manner, while maximizing value of assets, promoting entrepreneurship, facilitating availability of credit and balancing interest of all stakeholders. The Code over these years has established a strong ecosystem in the country.
CA. Ranjeet Kumar Agarwal
Vice President ICAI
Economic stability and prosperity require an effective insolvency resolution framework. In 2016, India took a historic step in this regard by enacting the Insolvency and Bankruptcy Code, 2016 ("IBC" or "Code"), which established a strong, contemporary, and complex insolvency framework. The IBC is the country's first comprehensive statute addressing corporate and individual insolvency. The Code's goal is to promote the going concern status through revival and resolution, and it has been praised as a significant reform in the insolvency resolution system, providing much-needed stability to stakeholders. As per reports, in FY23, the National Company Law Tribunal (NCLT) admitted 1,255 applications from creditors for initiation of the Corporate Insolvency Resolution Process (CIRP), which is also one of the highest numbers since 2019.
