The Indian Institute of Insolvency Professionals (IIIPI), an Insolvency Professional Agency (IPA), has joined hands with the Indian Institute of Management, Ahmedabad (IIMA) to launch the first-ever residential “Management Development Program for Insolvency Professionals” in India. The two institutes signed a Memorandum of Understanding (MoU) to this effect recently.
According to Ashok Haldia, Chairman of IIIPI, “The insolvency profession is a multidisciplinary profession, unlike any other, requiring constant capacity building of professionals. IIIPI is committed to upgrading the knowledge quotient of its members as its constant endeavor.” The ‘Management Development Program’ (Residential) for IIIPI’s members will focus on building the management and managerial capacity of professionals in the context of managing distressed company debtors as de facto CEO under the provisions of IBC.
The program will be a five-day residential course conducted on the IIMA campus. MP Ram Mohan, Faculty Chair of Program at IIMA, says, “Insolvency profession is evolving in India. Professionals are undertaking critical business and management functions once they are appointed as Resolution Professionals. This requires an understanding of how business functions, how the management of a firm thinks and acts etc. The course organized by IIMA for IIIPI brings the nuances of management and leadership training to Insolvency Professionals.”
IIIPI, promoted by The Institute of Chartered Accountants of India (ICAI), is the largest frontline regulator under the Insolvency Bankruptcy Code (IBC) in India with about 63% Insolvency Professionals as its Members.
The partnership between IIIPI and IIMA is a significant step in the evolution of the insolvency profession in India. The program will equip insolvency professionals with the skills and knowledge required