This book is a unique book for Bankers, on resolution of stressed assets with a special emphasis on Insolvency and Bankruptcy Code, 2016 (‘IBC’).
The Present Publication, authored by Mr. M.R. Umarji (former Executive Director, RBI and former Chief Advisor – Legal, IBA), incorporates the following contents:
· Module A: Overview of Credit Recovery and Insolvency Laws in India
o Credit Recovery Laws for Banks
o Evolution of Insolvency and Bankruptcy Code
· Module B: Evolution & Practice of Insolvency and Bankruptcy Code
o Bankruptcy Laws – Cross Country Experience
o Structure of the IBC
· Module C: Corporate Insolvency Resolution Process (‘CIRP’)
o Initiation of CIRP
o Commencement of CIRP
o Roles and Duties of CIRP
o Catalyzing Successful Resolution Plan
o Fast Track CIRP
o Failure of CIRP or Business: Liquidation & Voluntary Liquidation
· Module D: Insolvency Resolution Process for Non-Corporate Entities
o Insolvency Resolution process for Individuals and Firms
· Module E: Other Important Provisions/Matters
o Adjudication, Appeals, Offences & Penalties
o Regulatory & Miscellaneous Aspects
o Important Case Laws
o Appendix I | Application to Adjudicating Authority: Formats for Applications
o Appendix II | RBI Circular on Prudential Framework for Resolution of Stressed Assets, Dated – 07-06-2019
Established in 1928 as a Company under Section 25 of the Indian Companies Act, 1913, Indian Institute of Banking & Finance (IIBF), is a professional body of banks, financial institutions and their employees in India.
With its membership of over 776 banks and financial institutions as institutional members and about 7,77,566 of their employees as individual members, IIBF is the largest Institute of its kind in the world.
About the Certificate Course on Resolution of Stressed Assets with Special Emphasis on Insolvency and Bankruptcy Code, 2016 for Bankers
Insolvency & Bankruptcy Code, 2016 (‘IBC’) is an Act to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner. The certificate course aims to:
o Develop among banking professionals and employees an understanding of the Code,
o Enable bankers to better understand the procedure to be followed for resolution of stressed assets and their roles in an insolvency resolution process,
o Further strengthen their capacity to discharge their duties and responsibilities, including commercial decisions with utmost care and diligence, in the best interests of all stakeholders.
· Subject of Examination:
Insolvency and Bankruptcy Code, 2016
· Medium of Examination
Examination will be conducted in English only.
· Examination Fees:
Subsequent each attempt
*Plus Convenience charges and Taxes as applicable.
· Pattern of Examination:
o 100 objective type multiple choice questions for 100 marks
o Examination will be held in the remote proctored mode only
o No negative marking for wrong answers.
· Passing Criteria:
Minimum marks for pass in the subject is 50 out of 100.
· Duration of Examination:
The duration of the examination will be of 2 hours.
o Examination will be conducted on pre-announced dates published on the website of the Institute
o Institute conducts the examination on 2nd & 4th Saturday and on all Sundays. However, periodicity of the examination may be changed depending upon emerging requirements.