IBBI to celebrate its Eighth Annual Day tomorrow

The Insolvency and Bankruptcy Board of India (IBBI) is celebrating its Eighth Annual Day on 1^st October 2024. The main event to mark the occasion is being organised in New Delhi. Chief Justice (Retd.) Mr Ramalingam Sudhakar, the  President of the National Company Law Tribunal, will be the Chief Guest and will deliver a keynote address. Mr. Amitabh Kant, India’s G20 Sherpa and Former CEO of NITI Aayog will deliver the Annual Day lecture. Dr. V. Anantha Nageswaran, Chief Economic Advisor, Ministry of Finance and Ms. Deepti Gaur Mukerjee, Secretary, Ministry of Corporate Affairs will also address on the occasion. The Annual Day Lecture Series and a host of other activities will also be a part of the celebrations.

To mark the occasion, an annual publication, “IBC के आठवर्ष: शोध एवं विश्लेषण” will be released.

Further, the winners of the 5^th National Online Quiz on IBC (Insolvency and Bankruptcy Code) will be awarded a merit certificate, medal, and cash prize.

Over the past eight years, the IBC has significantly accelerated the resolution of insolvency cases, bolstering investor and stakeholder confidence and fostering a more favourable environment for business growth. The Code’s deterrent effect, enabling the transfer of control of a Corporate Debtor, has significantly influenced debtor behaviour. The risk of ownership transfer is a strong incentive, encouraging disciplined management and discouraging insolvency-triggering actions.

Senior officers of the Government and regulatory bodies will grace the occasion. The occasion will witness the presence of stakeholders of the insolvency regime, namely, the insolvency professionals, registered valuers, other professionals, debtors, creditors, business leaders, academicians, and researchers on invitation.