Indian Institute of Insolvency Professionals of ICAI (IIIPI), an Insolvency Professional Agency (IPA), has joined hands with Indian Institute of Management, Ahmedabad (IIMA) to roll out the first-ever residential “Management Development Program for Insolvency Professionals” in India. 

Both the institutes have signed a Memorandum of Understanding (MoU) to this effect recently. 

The process of announcing the first batch of the programme and shortlisting candidates among the professional members of IIIPI is underway.

Evolving profession

Ashok Haldia, Chairman-IIIPI said, “The insolvency profession is a multidisciplinary profession unlike any other, requiring constant capacity building of professionals. IIIPI is committed to upgrade the knowledge quotient of its members as its constant endeavor.”

The ‘Management Development Program’ (Residential) for IIIPI’s members would focus on building the leadership and managerial capacity of professionals in the context of managing distressed corporate debtors as de facto CEO under the provisions of IBC. 

It will be a five days residential program conducted at the IIMA campus. 

M P Ram Mohan, Faculty Chair of Program at IIMA, said, “Insolvency profession is evolving in India. Professionals are undertaking critical business and management functions once they are appointed as Resolution Professionals. This requires an understanding of how business functions, how the management of a firm thinks and acts etc. The course organised by IIMA for IIIPI brings the nuances of management and leadership training to Insolvency Professionals”. 

IIIPI, promoted by The Institute of Chartered Accountants of India (ICAI), is the largest frontline regulator under Insolvency Bankruptcy Code (IBC) in India with about 63 per cent Insolvency Professionals as its Members.

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