Indian Institute of Corporate Affairs Launches 7th Batch of Postgraduate Program
The Indian Institute of Corporate Affairs (IICA) in Manesar, Gurugram, celebrated the launch of the 7th Batch of the Postgraduate Insolvency Programme (PGIP) on July 21, 2025. The event featured notable speakers, including Hon’ble Justice S.J. Mukhopadhyay and Hon’ble Justice M.M. Kumar, who shared insights on the importance of the Insolvency and Bankruptcy Code (IBC) and its evolving nature. The ceremony also included messages of encouragement from government officials and highlights of the IICA’s role in enhancing India’s governance.
Inaugural Ceremony Highlights
The launch ceremony of the PGIP was marked by the presence of distinguished guests, including former judicial leaders in the insolvency sector. Hon’ble Justice S.J. Mukhopadhyay delivered the inaugural address, emphasizing the necessity of adhering to strict timelines under the IBC. He pointed out that any deviations from these timelines must be justified formally. Justice Mukhopadhyay also stressed the importance of resolution professionals conducting thorough due diligence before presenting plans to the Committee of Creditors, warning against the submission of unverified proposals.
Insights from Justice M.M. Kumar
In his special address, Hon’ble Justice M.M. Kumar discussed the dynamic nature of the IBC, noting its continuous evolution in response to market changes. He identified several areas needing clarity, such as limitation laws and the treatment of large cases referred by the Reserve Bank of India. Justice Kumar welcomed the introduction of pre-packaged insolvency processes but noted their limited adoption. He also highlighted the increase in the default threshold from ₹1 lakh to ₹1 crore, which has not significantly impacted the number of cases. Encouraging students, he advocated for the values of honesty and sincerity and recommended reading biographies of influential figures as a means of learning.
Messages from Government Officials
During the event, a message from Smt. Deepti Gaur Mukherjee, Secretary of the Ministry of Corporate Affairs, was shared with the attendees. She congratulated the IICA for establishing itself as a center of excellence and acknowledged the positive influence of its programs on India’s governance. Smt. Mukherjee extended her best wishes to the new batch of students, highlighting the importance of their training in shaping future leaders in the corporate sector.
Contributions to the IBC
Shri Gyaneshwar Kumar Singh, Director General of IICA, addressed the participants, crediting the leadership of the event’s dignitaries for their roles in the successful implementation of the IBC. He emphasized that the success of the IBC is not solely measured by recovery rates or reduced non-performing assets (NPAs) but also by its broader impact on transforming the credit culture in India. Mr. Sudhaker Shukla, the newly appointed Course Director of PGIP, welcomed the guests and acknowledged their foundational contributions to the IBC during its early years, underscoring the importance of their leadership in shaping the current landscape of corporate insolvency in India.
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