IICA National Conference on India's Restructuring Ecosystem
The Indian Institute of Corporate Affairs (IICA), under the Ministry of Corporate Affairs, in partnership with the Association of Insolvency Professional Entities (AIPE), hosted the National Conference on "Redefining India’s Restructuring Ecosystem: A Decade of Learning – Directions for the Future" at the Pradhan Mantri Sangrahalaya Auditorium, New Delhi. The event marked the 10-year anniversary of the Insolvency and Bankruptcy Code (IBC) and included the Convocation Ceremony of the 6th Batch of the Post Graduate Insolvency Programme (PGIP).
Key Addresses and IBC Impact Assessment
Justice Ashok Bhushan, Chairperson of NCLAT, described the period from 2016 to 2021 as the "era of establishment" and the current phase as the "era of refinement," noting that the Insolvency and Bankruptcy Code (Amendment) Act, 2026 reflects the maturity of legislation that continues to evolve. Justice Anupinder Singh Grewal, President of NCLT, emphasized the need for sustained judicial coordination and highlighted the importance of adopting the UNCITRAL Model Law on Cross-Border Insolvency to strengthen India's position as a global restructuring destination.
Smt. Deepti Gaur Mukerjee, Secretary of Ministry of Corporate Affairs, described the IBC as a "behavioral revolution" and revealed that nearly ₹4 lakh crore has been recovered through resolution processes, with creditors realizing approximately 170% of liquidation value. Additionally, more than 32,000 cases have been settled before formal admission, preserving credit worth nearly ₹14 lakh crore.
PGIP Convocation and Academic Excellence
The event featured the convocation of the 6th Batch of PGIP, IICA's flagship two-year full-time residential programme approved by the Insolvency and Bankruptcy Board of India (IBBI). A total of 40 students were conferred degrees, enabling them to register as Insolvency Professionals without the conventional ten-year experience requirement. Across seven batches, the programme has built an alumni network of 239 professionals. Three students received cash prizes for academic excellence: Ashish Kumar (₹50,000 for first position), Arun Kumar (₹30,000 for second position), and K Geetha Vaishnavi (₹20,000 for third position), sponsored by AZB & Partners.
Conference Initiatives and Thematic Discussions
The conference featured the release of a National Conference Souvenir documenting the IBC's evolution, announcement of the PM Vidya Lakshmi merit-cum-means scholarship for PGIP students, and extension of the One Nation One Subscription (ONOS) platform to IICA for access to global academic resources.
Four panel discussions addressed critical dimensions: India's preparedness for adopting the UNCITRAL Model Law on Cross-Border Insolvency; the newly introduced Creditor-Initiated Insolvency Resolution Process (CIIRP) and pre-packaged mechanisms; the evolution of India's distressed asset market and role of ARCs and AIFs; and future-oriented reforms including early warning systems, technology integration, and artificial intelligence in insolvency processes.