Graduate Insolvency Program

Government has plans to create a pool of 45 Bankruptcy professionals in order to deal with India’s Bad loans.

• The Government will be introducing an Academic Course which is the first course of its kind in the world to create a pool of 45 Bankruptcy professionals.
• This will be a similar course like that of graduating to top honours at Indian Institute of Management of Indian Institute of Technology.
• This will be a 27 months program, which will set a global benchmark for insolvency professionals.
• India has plans to remove around Rs. 10 lac crores in soured loans category.
• By February 2019 the Insolvency and Bankruptcy Board of India (IBBI), will launch it and the preparations are already in its advanced stage.
• A working group consisting of 6 members has come out with the final outlines of course like
  • Date of first Admission
  • Course Fees
  • Study Modules etc.,
• This program has been coined by IBBI to groom world class insolvency professionals and will be launched from the forthcoming academic year.
• Following personnel with a minimum percentage of marks can sit for the elimination examination to qualify for the course. Five seats would be reserved for foreign nationals.
  • Chartered Accountants
  • Cost Accountants
  • Company Secretaries
  • Law Graduates
  • Post Graduates in Economics, Finance, Management and Commerce
• The elimination examination will be in line with the Common Admission Test (CAT) since there is expected to be a tough competition for an entry.
• The course fee will be around Rs. 7 lacs to Rs. 10 lacs annually.
• The course module will have around 3-5 segments which includes a campus classroom training besides domestic and foreign internships.
• Expression of Interest has been called from eligible institutions for delivery of course.

Advantages:

1. For the first time India will be able to export talent in a niche area like Bankruptcy Professionals
2. Pass out personnel will be able to deal with tough bankruptcy cases, which will bring a check on the long pending cases which take more time in settlements.
3. After completion a student will have the option to
   1. Either opt to be an Insolvency professional and run the day to day business of a company undergoing insolvency proceedings within a stipulated period or
   2. Can choose to advise other stake holders.