India is in the process of establishing a robust insolvency framework with the enactment of Insolvency and Bankruptcy Code 2016. The Code has made rapid strides in short time and is one of the success stories of recent Indian economic reforms. A first in India, the Centre for Insolvency and Bankruptcy has been set up as an apex institute of learning in insolvency through education and training by active stakeholder engagement and participation.
The GIP will be delivered through the Centre and its initiatives.
The Centre will also serve as an apex school of learning on insolvency and related areas, in association with the key stakeholders and institutions. The Chairs will be headed by eminent experts and thinkers who will lead the thinking and execution by the Centre.
Dr K.L Dhingra is the Head of Centre for Insolvency & Bankruptcy.
The Graduate Insolvency Programme (GIP) is the first of its kind programme for those aspiring to take up the discipline of insolvency professional as a career or seeking to take up other roles in the value chain, in India and in foreign jurisdictions. A student who completes the GIP will be eligible for registration as insolvency professional under the Insolvency and Bankruptcy Code 2016, without having to wait to acquire the 10-year experience as required by the Code at present.
For those aspiring to become in-house counsels or serve as advisors to stakeholders in insolvency, liquidation, bankruptcy or turnaround process, the GIP will benefit at entry level and in career growth. The GIP will also be great value to those who elect to become academics or researchers or work in media houses.
An insolvency professional, serving as a licenced practitioner or in any other capacity, needs not only the domain knowledge but also a range of skills, multiple abilities and extra-ordinary qualities. It also needs a fair degree of appreciation of cultures, social and other factors surrounding an insolvency proceeding. An insolvency professional also has ethical and moral obligations. The GIP offers all that the market expects from a high-quality insolvency professional. A student can also start earning in the second year.
Recognised by the Insolvency and Bankruptcy Board of India and curated by a group comprising eminent economists, insolvency, financial, legal and other experts, GIP is designed to provide exposure to real-time situations and on-ground training. The programme offers opportunities to work with leading insolvency professionals and other stakeholders providing the graduates the skill and experience that will help them to take their career tot he next level and increase marketability to employers.
Preparatory Phase
The preparatory phase provides GIP students with a strong base of knowledge that will enable them to adapt to changing conditions, including the dynamic insolvency and bankruptcy regime in India. Moreover, the students will be able to appreciate and apply the specialized courses in insolvency and bankruptcy that follow the Preparatory phase.
Specialisation Phase
The Specialization subjects would impart a deep understanding of the Code and its evolution, along with the legal framework within which insolvency professionals are required to operate. This will empower GIP students to “hit the ground running” for their internships. The IPs gain as much practical experience as possible and would make the students employable in any sphere of the insolvency ecosystem, and fulfill a key objective of the Code: 'producing a cadre of top-quality IPs who can deliver world-class services as resolution professionals, liquidators, or in other capacities…'.
Personal Development
The Personal Development phase focuses on developing all-round personalities of the students. Some of the topics covered are, Leadership, Problem Solver: Data Analysis, Consensus Building and Negotiation, Communication / Writing Skills, Grooming / Persona / Gravitas, Thought Leadership, Emotional Intelligence, Self-Management, Time Management, Dealing with Stakeholders, Ethics and managing moral dilemmas and Assessment and readiness for internship.
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