Enhancing EPFO’s Insight on Corporate Insolvency Resolutions
The Pandit Deendayal Upadhyaya National Academy of Social Security (PDUNASS) in New Delhi hosted a half-day workshop today focused on the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The workshop brought together members of the Central Board of Trustees (CBT), sponsors from the CBT’s Investment Committee, and various officers from the Employees’ Provident Fund Organisation (EPFO). Its primary goal was to deepen the understanding of insolvency resolution and related administrative challenges faced by EPFO.
Government Officials Attend to Discuss Insolvency Framework
The event was virtually attended by Shri Ramesh Krishnamurthi, Central Provident Fund Commissioner (CPFC), alongside Ms. Roli Shukla Malge, Financial Adviser & Chief Accounts Officer (FA & CAO) of EPFO. They were joined by Shri Kumar Rohit, Director of PDUNASS, and Shri M.M. Ashraf, Additional Central P.F. Commissioner. A variety of representatives from the CBT, Investment Committee, and senior EPFO officials took part in the engaging discussions.
Emphasizing the Importance of Legal Knowledge
During the workshop’s opening remarks, Shri Ramesh Krishnamurthi stressed the importance of a robust understanding of the insolvency resolution framework set forth by the IBC. He indicated that informed decision-making in insolvency scenarios is critical, particularly for statutory bodies like EPFO. These efforts are aimed at protecting the rights of subscribers while ensuring adherence to the continually evolving legal landscape.
Workshop Encourages Knowledge Exchange Among EPFO Leadership
Shri Kumar Rohit elaborated on the necessity of such workshops, stating that they equip EPFO’s leadership with essential insights and confidence necessary for navigating complex legal and financial issues. The sessions included in-depth discussions on the insolvency resolution framework, the concept of legal finality under the IBC, and matters relating to post-resolution recovery and administrative closure. Attendees engaged in meaningful conversations regarding intricate insolvency-related topics, enhancing the collective expertise of EPFO’s officials.
Commitment to Capacity Building
This workshop is part of PDUNASS’s ongoing commitment to enhance the institutional readiness of EPFO to tackle legal and financial challenges posed by the Insolvency and Bankruptcy Code of 2016. By investing in training and capacity-building initiatives, PDUNASS aims to fortify EPFO’s operational framework in the face of insolvency issues.
About PDUNASS
The Pandit Deendayal Upadhyaya National Academy of Social Security (PDUNASS) serves as the premier training institution for the Employees’ Provident Fund Organisation (EPFO) under the auspices of the Ministry of Labour & Employment, Government of India. Established in 1990, PDUNASS focuses on training, research, and consultancy in the realm of social security.
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