The Indian Institute of Corporate Affairs (IICA), an autonomous body under the Ministry of Corporate Affairs, signed a five-year Memorandum of Understanding with the Association of ARCs in India, which represents Asset Reconstruction Companies registered with the Reserve Bank of India. The MoU was signed in the presence of Shri Gyaneshwar Kumar Singh, Director General & CEO of IICA, by Shri Amrinder Puri, Chief Administrative Officer of IICA, and Shri Hari Hara Mishra, Chief Executive Officer of the Association of ARCs in India.
The primary objective of the MoU is to deepen industry linkages for IICA's Post Graduate Insolvency Programme (PGIP), which develops skilled Insolvency Professionals and Turnaround Specialists. This strategic alignment was decided in a meeting convened by the Ministry of Corporate Affairs on September 2, 2026.
The collaboration establishes a framework built around three key pillars: industry-oriented curriculum and capacity building through ARC experts contributing to teaching and faculty support; research, data sharing and knowledge creation through joint projects in debt restructuring, financial markets, stressed assets and insolvency resolution; and joint programs and industry engagement including internships, placement opportunities, and an annual joint conference.
Shri Gyaneshwar Kumar Singh highlighted the role of ARCs in the insolvency resolution ecosystem, noting that the significant regulatory development occurred on October 11, 2022, when RBI issued its regulatory framework following the Sudarshan Sen Committee recommendations, permitting eligible ARCs to act as resolution applicants under the Insolvency and Bankruptcy Code, 2016, subject to prescribed conditions.
The institutions will work toward tangible outcomes through defined implementation strategies, collaborative research, expert-led teaching, and regular progress reviews. They are exploring the possibility of organizing a joint conference in February 2027 around the milestones of IBC@10 and SARFAESI@25, with the theme and program to be finalized jointly.