CA. Gyan Chandra Misra
Chairman, Insolvency & Valuation Standards Board
The Insolvency and Bankruptcy Code (IBC), enacted in 2016, has firmly established itself as a transformative pillar of India’s economic and financial architecture. Over the years, with six comprehensive amendments and over 120 regulatory updates, the IBC has evolved into a dynamic and responsive framework capable of addressing the complexities of modern insolvency scenarios. This adaptability has not only strengthened creditor rights and enhanced recovery mechanisms but has also positioned India as a progressive jurisdiction in the global insolvency and restructuring landscape. Recent improvements in large-case recoveries and institutional reforms underscore the growing maturity of the ecosystem.
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 has been introduced in the Lok Sabha on 12th August 2025. The IBC Amendment Bill, 2025 seeks to address several gaps by refining claim verification and valuation, clarifying that security interests arise only from contractual arrangements, and limiting secured creditors’ claims to the value of their collateral. It also introduces clearer inter-se priority among secured creditors and widens the look-back period for avoidance transactions. Collectively, these changes are aimed at reducing litigation, enhancing certainty, and ensuring better realisation of value in insolvency cases.
Valuation has become increasingly central to the insolvency ecosystem, as accurate and independent assessment of assets and claims directly impacts creditor recoveries, stakeholder confidence, and the overall resolution process. In today’s volatile economic landscape, valuation reports prepared by qualified professionals serve as critical decision-making tools ensuring fair asset assessments, transparency in resolution plans, and optimal recovery outcomes. With regulators and market participants emphasising the need to curb inflated claims and “valuation shopping,” strengthening valuation discipline is seen as essential to minimising haircuts and preserving value in distressed assets. As valuation standards continue to align with international benchmarks, their role in defining fair market value, supporting strategic debt resolution, and guiding liquidation priorities has become indispensable, reinforcing the need for robust practices that safeguard stakeholder interests and preserve economic value throughout the resolution lifecycle.
In an era marked by the continuous evolution of insolvency frameworks and increasing global collaboration, it is vital for professionals to remain informed about international best practices, regulatory developments, and modern valuation techniques. In this journey, the Institute of Chartered Accountants of India (ICAI) has been at the forefront, championing professional excellence and fostering global dialogue in insolvency and valuation.
Further, taking forward the legacy of two tremendous successful international editions held in Singapore in 2023 and New Delhi in 2024, Insolvency & Valuation Standards Board (I&VSB) of ICAI is again coming up with “RESOLVE-2025”, the 3rd Edition of International Convention on Insolvency Resolution and Valuation which is scheduled on 01st and 02nd December 2025 at Hotel Aurika, Mumbai International Airport and hosted by WIRC of ICAI. The Convention has emerged as a premier global forum where professionals across jurisdictions converge to exchange insights, share best practices, and collectively shape the future of insolvency resolution and valuation frameworks.
“RESOLVE-2025” is envisioned as a unique confluence of ideas, insights, and innovations, reinforcing India’s leadership role in shaping globally harmonised insolvency and valuation standards while fostering cross-border cooperation and professional excellence.
Embark on the journey to “RESOLVE-2025”, where global experts, changemakers, and industry professionals come together to redefine the future of insolvency and valuation. Be a catalyst in shaping innovative solutions that drive economic strength and sustainable recovery.