New Delhi [India], June 9 (ANI): The Insolvency and Bankruptcy Board of India (IBBI) is organising a one-day iconic event on Friday, at the Habitat Centre, New Delhi, to mark the glorious conclusion of the ongoing celebrations across 75 locations across the country, to trace the journey of reforms in the three stages of a business, informed the Ministry of Corporate Affairs.
Markets need freedom, broadly, at three stages of a business - to start a business (free entry), to continue the business (free competition) and to discontinue the business (free exit), said the ministry.
As per the ministry, the Insolvency and Bankruptcy Code, 2016 offers a market directed, time-bound mechanism for resolution of insolvency, wherever possible, or exit, wherever required, and thereby ensures the ultimate freedom, the freedom to exit, facilitating ease of doing business.
Justice Ashok Bhushan Chairperson, National Company Law Appellate Tribunal will grace the occasion as Chief Guest, said the ministry.
Rajesh Verma, Secretary, Ministry of Corporate Affairs; Ashok Kumar Gupta, Chairperson, Competition Commission of India; and Praveen Kumar, DG & CEO, Indian Institute of Corporate Affairs will be the Guests of Honour at the event. The Conference shall be followed by a half-day Insolvency Professional Conclave.
A publication titled, "Anusandhaan: Exploring New Perspectives on Insolvency" containing 26 research papers that emerged out of an international research conference organized by IBBI and IIM Ahmedabad recently is also scheduled to be released during the inaugural session of the Conference.
A large number of stakeholders of the IBC ecosystem, from across the country, including insolvency professionals, registered valuers, economists, financial creditors, service providers, researchers, students, professionals, regulators, academia and government officers are expected to join the Conference both in physical well as online mode.
Azadi Ka Amrit Mahotsav (AKAM) is an initiative of the Government of India to celebrate and commemorate 75 years of progressive India and the glorious history of its people, culture and achievements. Since the beginning of AKAM celebrations which was started on March 12, 2021 by the Prime Minister, Narendra Modi. IBBI has organized several activities and events as part of the Mahotsav. (ANI)