The Indian Institute of Corporate Affairs (IICA) has launched a two-year Graduate Insolvency Programme (GIP) for individuals aspiring to join the insolvency profession or seeking other roles in the value chain, in India and in foreign jurisdictions.
IICA was set up in 2008 by the Ministry of Corporate Affairs (MCA) as a Society to function as a holistic, capacity building institution and think-tank for corporate regulation and reform.
“A student who completes GIP will be eligible for registration as an insolvency professional under the Insolvency and bankruptcy Code, 2016, without having to acquire the 10-year experience as required by the Code at present,” according to the Institute.
Sameer Sharma said GIP is a mix of law, economics, entrepreneurship and leadership. “The resolution professionals who operate companies during the resolution period have to have knowledge of law, economics, valuation, etc. These professionals enjoy the powers of a CEO,” said Sharma.
MS Sahoo, Chairperson, Insolvency and Bankruptcy Board of India, said “An insolvency professional is a key institution of the insolvency regime…The graduates of GIP will add immense value to the insolvency ecosystem and contribute to its further development.”
The education qualification for enrolling for the course is: Chartered Accountant, Law, Cost Accountant, Company Secretary, B.E./B.Tech, Post -Graduate with major subjects in Economics, Finance, Commerce, Management and Insolvency (with aggregate 50 per cent marks). The candidate should not be more than 28 years of age as on April 15, 2019.
Source: Business line, February 16,2019