The 7th batch of the Postgraduate Insolvency Programme (PGIP) commenced at IICA, Gurugram, marked by reflections from eminent jurists on the evolving insolvency landscape in India and the critical role of resolution professionals in upholding the integrity of the Insolvency and Bankruptcy Code (IBC).
Highlights:
- Launched on 21st July 2025 at IICA, Manesar, Gurugram
- Inaugural addressed by Hon’ble Justice S.J. Mukhopadhyay & Justice M.M. Kumar
- Emphasis on timelines, due diligence, evolving laws, and professional ethics
- Message from Smt. Deepti Gaur Mukherjee lauded IICA’s impact on governance
- DG Shri Gyaneshwar Kumar Singh highlighted IBC’s transformational role
- Former IBBI Member Shri Sudhaker Shukla assumed role as PGIP Course Director
The Indian Institute of Corporate Affairs (IICA), Manesar, Gurugram, inaugurated the 7th batch of its Postgraduate Insolvency Programme (PGIP) on 21st July 2025. The event was honoured by the presence of Hon’ble Justice S.J. Mukhopadhyay, former Chairperson of NCLAT, and Hon’ble Justice M.M. Kumar, former President of NCLT.
Justice Mukhopadhyay, in his inaugural address, stressed the paramount importance of adhering to the Insolvency and Bankruptcy Code (IBC) timelines, asserting that any delay must be properly justified. He emphasized the vital role of resolution professionals in ensuring thorough due diligence, warning that unverified resolution plans must not be placed before the Committee of Creditors.
Justice Kumar’s special address focused on the evolving nature of the IBC and its responsiveness to market dynamics. He called for greater clarity on various fronts including limitation laws, RBI-referred cases, time value of money, and classification of buyers as financial creditors. While acknowledging pre-packaged insolvency as a step forward, he noted its limited adoption and pointed out that the raised default threshold from ₹1 lakh to ₹1 crore has not significantly impacted case volumes. He urged the students to adopt honesty, sincerity, and cultivate reading habits, recommending biographies of great personalities as learning resources.
A message from Smt. Deepti Gaur Mukherjee, Secretary, Ministry of Corporate Affairs, was read during the event, in which she congratulated IICA on its emergence as a centre of excellence and recognized the significant contribution of its training programmes to strengthening India’s governance framework.
Shri Gyaneshwar Kumar Singh, Director General, IICA, praised the contributions of the dignitaries in establishing and nurturing the IBC, noting that its success lies not just in recovery rates or NPA reduction, but in its broader transformation of credit culture.
Welcoming the dignitaries, Mr. Sudhaker Shukla, former IBBI Member and now PGIP Course Director, highlighted their instrumental roles in shaping IBC’s foundation. The ceremony concluded with a vote of thanks by Dr. K.L. Dhingra, Head, Centre of Insolvency and Bankruptcy, IICA.
The event underscored the pivotal role of education, integrity, and leadership in sustaining and advancing India’s insolvency regime.
