CA. Charanjot Singh Nanda
Vice President, ICAI
The Insolvency and Bankruptcy reforms in our country were ushered in by the enactment of the Insolvency and Bankruptcy Code, 2016. Through the resolution of the corporate debtor and the implementation of liquidation, the Code has proven effective in mitigating the vulnerabilities linked to financial stress caused by endogenous factors and the vulnerabilities linked to economic stress caused by exogenous factors resulting from changes in the business environment brought about by innovation and policy shifts. With a strong emphasis on promoting going concern status through revival and resolution, this ground- breaking law created a comprehensive, modern, and complex framework for handling both corporate and individual insolvency.
Valuation exercise is one of the crucial activities under IBC important for guaranteeing the timely settlement, maximizing value, and balancing the rights of all the stakeholders involved. The IBC and the recent regularisation of the valuation profession in the light of the requirements of the IBC have rightfully earned acclaim as a significant reform, providing much-needed stability to stakeholders across the nation.
I am thrilled to extend a warm invitation to all of you for the International Convention on Insolvency and Valuation, themed "RESOLVE-2024: Enabling Resolution, Maximizing Value," slated for 12 th and 13 th July 2024 in New Delhi.
This prestigious event is organized by the ICAI through its Insolvency & Valuation Standards Board (I & VSB) in collaboration with the Indian Institute of Insolvency Professionals of ICAI and ICAI Registered Valuers Organisation hosted by Northen India Regional Council of ICAI.
The Convention is thoughtfully designed to address the evolving concerns of insolvency and valuation practitioners, with tailored sessions aimed at meeting participants' learning needs while exploring significant thematic issues. These include discussions on Emerging Trends in Debt Resolution, the Role of Regulators and Policymakers in fostering an effective ecosystem, the pivotal role of valuation in the insolvency regime, the standardization of valuations, and the development of valuation standards to fortify the overall insolvency framework. Additionally, deliberations will focus on the evolution of the global insolvency profession and harnessing technology for process integration. Esteemed domain experts will share their invaluable knowledge and insights during the convention.
I urge each of you to seize this opportunity to be part of a collective effort towards shaping the future of insolvency and valuation. Your participation is not just encouraged, but essential in driving meaningful change and fostering innovation.
Together, let us unlock new possibilities, establish lasting connections, and pave the way for a stronger, more resilient insolvency and valuation landscape.