What began as academic curiosity gradually evolved into a defining professional pursuit. My engagement with the Insolvency and Bankruptcy Code, 2016 (IBC) started during my LL.M. dissertation, where I was first introduced to the conceptual and legal framework of insolvency law. At that stage, I often perceived IBC as quicksand—complex, layered, and difficult to navigate. Yet, it was precisely this complexity that sparked a deeper interest and sustained curiosity. That curiosity ultimately led me to the Post Graduate Insolvency Programme (PGIP) at the Indian Institute of Corporate Affairs (IICA).
Upon joining PGIP, I was exposed to the real insolvency ecosystem—an experience that initially felt unfamiliar, despite my postgraduate training in Corporate and Industrial Law. Over time, I understood the reason for this disconnect. Until then, my exposure had largely been academic and institutional, limited to classrooms, courts, and tribunals. PGIP introduced me to a far more integrated and practice-oriented environment, where insolvency is not merely a legal process but a dynamic ecosystem involving law, finance, governance, leadership, and strategic decision-making.
The programme provided structured exposure to diverse dimensions of insolvency practice. Alongside legal analysis, I gained insights into financial statement analysis, turnaround strategies, financial restructuring, leadership development, entrepreneurial thinking, and personality enhancement. As the programme progressed, the “quicksand” that once overwhelmed me began to draw me deeper—prompting me to question why an insolvency professional must acquire such multidisciplinary skills and how these competencies collectively contribute to effective resolution outcomes. This phase of learning was both demanding and energising, reshaping my understanding of professional capability in the insolvency domain.
PGIP gave me a practical understanding of what multitasking truly means within the insolvency ecosystem. Coming from a legal background, the programme enabled me to evolve into a professional who understands the legal architecture of insolvency, can analyse corporate financial statements, guide teams through leadership skills, take financially viable and commercially sound decisions, and appreciate the nuances of reviving distressed enterprises. These were not theoretical additions but essential tools for preserving value and ensuring sustainable resolution.
Before joining PGIP, my understanding of the role of an Insolvency Professional was limited and largely procedural. Through this programme, I was trained in direct alignment with the objectives of the IBC resolution, value maximisation, and revival of viable businesses. PGIP reinforced the idea that an Insolvency Professional is not merely an administrator of processes, but a central figure responsible for balancing legal compliance, financial prudence, stakeholder interests, and economic outcomes.
A defining strength of PGIP lies in its ecosystem-based exposure. The Insolvency and Bankruptcy Code rests on four foundational pillars - the Insolvency and Bankruptcy Board of India (IBBI), Insolvency Professionals (IPs), Information Utilities (IUs), and the Adjudicating Authorities. During the programme, I had the opportunity to learn from all four pillars through interactions with officials from IBBI, leadership and key personnel from Information Utilities, experienced Insolvency Professionals who shared practical challenges and solutions, and sessions involving members of the Adjudicating Authorities. This comprehensive exposure offered a holistic understanding of how the insolvency framework operates in practice.
The programme’s design also reflects a forward-looking institutional vision. The age criterion for admission underscores the belief that the future of India’s insolvency and governance framework lies with well-trained young professionals. Equally significant is the mandatory internship component, which reinforces the principle that while a degree demonstrates learning, an internship demonstrates the ability to contribute meaningfully. PGIP consistently bridges the gap between academic knowledge and professional application.
Most importantly, PGIP transformed my mindset from answering questions to solving problems. While I once described IBC as quicksand, today I find myself confidently navigating and engaging deeply with the insolvency ecosystem. When I reflect on my journey before PGIP and where I stand now, the shift is unmistakable. PGIP has not merely enhanced my knowledge; it has shaped my professional identity and prepared me to contribute responsibly to India’s evolving insolvency and corporate governance landscape.