PR No – 72
8th April, 2024
New Delhi
Virtual Roundtable Discussion on Practical Challenges during CIRP under Insolvency & Bankruptcy Code, 2016
NCLT & IBC Committee of PHDCCI organized a Virtual Roundtable Discussion on Practical Challenges during CIRP under Insolvency & Bankruptcy Code, 2016 on 5th April 2024.
Mr. G P Madaan, Chair, NCLT & IBC Committee, PHDCCI, in his opening remarks highlighted some of the practical challenges being faced by the stakeholder during CIRP and Liquidation. Even some of the recent judicial pronouncements have led to the remanding back of the approved resolution plans to the CoC even during implementation.
Ms. Manisha Chaudhary, Co- Chair, NCLT & IBC Committee, PHDCCI welcomed all the participants and encouraged them to be an active part of the session to make it fully immersive and interactive. She broadly touched upon the various topics to be discussed and invited comments from all the participants. During the course of the webinar, she added her point of views and opened the forum for meaningful discourse and finding solutions for the ground realities being faced by the various stakeholders during CIRP or Liquidation.
Mr. Abhishek Anand, Co- Chair, NCLT & IBC Committee, PHDCCI welcomed all participants and thanked PHDCCI and the NCLT & IBC committee for the opportunity to have the webinar. He mentioned the plight of homebuyers and all stakeholders on the pending resolution plans in real estate cases due to the recent decision of Hon’ble Supreme Court treating GNOIDA/NOIDA as a secured Creditor.
Mr. Karan Mehra, Co- Chair, NCLT & IBC Committee, PHDCCI was grateful to all the stakeholders for participating in the first webinar organized by the newly constituted committee. His main focus was on the conflicting rulings on various issues causing turbulence in the IBC Regime.
Dr. Jatinder Singh, Assistant Secretary General, PHDCCI discussed some of the practical challenges during the Corporate Insolvency Resolution Process (CIRP) under the Insolvency & Bankruptcy Code, 2016.
In a nutshell, it was a very fruitful discussion wherein each participant got to learn about the intricacies on the subject and proved to be a valuable platform for knowledge exchange. The Committee has decided to hold more such Virtual Discussions for the benefit of the stakeholders.
The roundtable was attended by more than 50 participants.
Warm Regards,
Media Division
PHD Chamber of Commerce and Industry