One National Colloquium has been organised by the GNLU Center for Corporate and Insolvency Law (GCCIL) in joint collaboration with the Insolvency and Bankruptcy Board of India (IBBI) in the topic “Corporate Insolvency Resolution Process – Understanding the Emerging Issues and Challenges” on 4th April 2020.
ABOUT THE COLLOQUIUM
With the enactment of the Insolvency and Bankruptcy Code, 2016, a new era of company law practice has been initiated with numerous legal issues and challenges. Starting from the constitutional validity of the IBC, existence of
disputes,issues pertaining to home buyers as creditors, disqualification of default promoters in bidding process,stay of proceedings during CIRP, scheme of Mergers and Acquisitions post the CIRP, etc. are a few to mention. Although,
the jurisprudence has been evolved through the intervention of the Hon’ble Supreme Court through a plethora of judgments,however,many issues are yet to be resolved.is colloquium is to explore the possible areas of research pertaining to legal issues and challenges raised from time to time during the CIRP under the IBC, since the notification of the provisions of the IBC and to deliberate on potential legal solutions.
CALL FOR PAPERS
The IBC provides for institutionalized creditor-in-control mechanism for reorganization and insolvency resolution of corporate entities, including corporate debtors and personal guarantors thereof, in a time-bound manner for
maximizing the value of assets of such entities. However, as per the latest available data from IBBI’s Quarterly Newsletter, July September, 2019, out of 2,542 cases admitted until September 2019, only 7% cases closed on
appeal/revision, 6% approved for resolution plan, 5% withdrawn, and 59% pending closure and only 23% has commenced for liquidation. Besides liquidation several other reasons have been flagged by the experts working in the field. In this backdrop, the GCCIL invites students, academicians, Insolvency professionals,researchers and practitioners to submit presentation proposals for the colloquium critically examining and exploring the main theme ‘Corporate Insolvency Resolution Process: Understanding Emerging Issues and Challenges’.