The Insolvency & Bankruptcy Code: Ease of Debt Burden

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Event Details

The Insolvency & Bankruptcy Code: Ease of Debt Burden - Aug 29, 2017

Significance of calling the meet & Introduction :

The Banking, Finance & Economic Affairs of Bombay Chamber conceptualize  an exclusive session on 'The Insolvency & Bankruptcy Code' and to support this initiative the Committee is kindly joined by National Stock Exchange of India Ltd (NSE).

 

RBI and Ministry of Corporate Affairs work towards Insolvency Resolution and hence main agenda is Restructuring, Resolution and Reconciliation in respect of viable entity and liquidation in respect of non-viable units. 

 

As the burden on banks increases with bad loans/stressed assets especially some Banks, Govt. undertaking have reported loss incurred in the 1st Qtr assessment, higher than the RBI approximation. Some banks (leading lenders) have taken external source, advisory services on board to tackle Resolution. 

 

While the Insolvency Proceedings and Litigations need to have some substantial return and assurance to the petitioner mostly creditors, periodicity of the entire process too cannot be ignored. 

IBC 2016: It has been evaluated and advocated to resolve the long- standing dues.

 

Doable Remedial Strategy - This will take care of "Creditor's Claim, Repayment to Banks, Workers and Operational Creditors", Tax recovery during the Insolvency Proceedings.  In short as per the revised order of priorities in repayment to all the bonafide Creditors, Govt. & Workers

 

Further, Does Liquidation serve the Purpose?

IBC Expert's View -  RS Loona , Senior Lawyer  

IBC is being perceived as a unique tool to provide expeditious restructuring for viable business entities and faster liquidation for such entities that cannot be revived. For running units, restructuring has to be the first and most preferred choice. Earlier legal and regulatory efforts for restructuring through BIFR, CDR, SDR or S4A have failed to yield the desired results and it is expected that the new legal frame work through NCLT will prove effective. It will however depend on various factors including compliance of stringent time lines provided by IBC, competence of insolvency resolution professionals, cooperation of promoters and so on.

 

Sub-sessions theme line :

  • Financial Contagion & NPAs in Trade Credit

  • Economic Scenario, Impediments & Corrections

  • Restructuring and Resolution Strategy on relevance of CDR & SDR Mechanism    

  • Insolvency Resolution & Legal Framework: Challenges- Law Firm

  • Legal Provisions Governing Restructuring with case Studies 

  • Impact of Insolvency Code on listed Entities 

  • Tax Recovery during Insolvency proceedings, Guidance & updates Income Tax Department, Govt. of India  

  •  Advisory & Service Firm:Perspective 


9:15 –9:45 am
Registration & Tea
Sub-Sessions  & Speakers
9:45-10:10 am
Welcome & Introductory  Remarks
Mr. Vikram Limaye Managing Director & CEO,
National Stock Exchange of India Ltd. (NSE)
 
Mr. Vijay Srirangan,Director General
Bombay Chamber
Followed by Introduction of Speakers - Sanskrity Sharan, Deputy Director, BFE
10:10- 10:40 am
Economic Scenario, Impediments & Corrections
Financial Contagion & NPAs in Trade Credit
I-Macro-Economy
Economist*
10:40- 11:10 am
Special Address by Guest of Honour-ED RBI
Restructuring & Resolution Strategy: Relevance of CDR Mechanism & SDR Scheme
II-Banking
Mr. Sudarshan Sen
Executive Director, RBI
11:10 -11:30 am
Limitations & Challenges of Corporate & Industry
III-Industry Representation
Mr. Pradeep Bhandivadekar-COO
Tata Capital
11:30- 12:30 pm
Insolvency Resolution, Litigation  & Proceedings: Legal Framework & Challenges
Legal Provisions Governing Restructuring
With Case Studies
Legal Experts on IBC
IV-Law
Mr  R.S. Loona  
Senior Partner , Dhaval Vussonji & Associates
 
Mr. Bahram N Vakil
Founding Member, AZB & Partners
12:20-12:40 pm
Impact of Insolvency Code on Listed entities
V- Stock Exchange
Dr. V R Narasimhan
Chief Regulatory Officer, ‘NSE’ National Stock Exchange Ltd.
12:40 – 1:30 pm
Special Guidance & Updates:  I-T Department & Advisory Services: Perspective Tax Recovery during  the Insolvency proceedings &   Insolvency  Proceedings: Code, Decoded
VI- I-Tax Dept, Research  & Advisory Services/Financial Institutions, Advisory  Service Firm 
IRS, Department of Revenue (Government of India)*
 
Mr. Uday Bhansali
President - Financial Advisory
Deloitte
Q & A
1:30 - 2: 00 pm
Exclusive Interactive  Session  with Speakers
Followed by Vote of Thanks
Business Networking Luncheon At 2:00 Pm

 * confirmation awaited

National Stock Exchange Auditorium, Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra 400051

Sanskrity Sharan || Deputy Director
Tel. (D) + 91 22 49100 220
Service -  Executive Kit, PPT (conditional, where applicable),  Refreshments & Luncheon Category
Prior Confirmation & registration is required for us to make necessary arrangements- Security Check, Executive Folder, Badges for Delegates, Seating.
Participation Fee :    Avail Group Discount on Participation of 2 or more  
Members  Rs. 2000 +18% GST
Non-Members  Rs. 3000 +18% GST
 

Bank Details for NEFT

Beneficiary Account No.

10996680930

IFSC CODE

SBIN0000300

Bank Name

State Bank of India

Branch Address

Mumbai Main Branch, Mumbai Samachar Marg, Mumbai- 400 001

MICR Code   

40000 2010

Cheque /Demand Draft should be drawn in favor of “BOMBAY CHAMBER OF COMMERCE AND INDUSTRY”.
 

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