Mumbai: ENQUBE held a webinar Insolvency & Bankruptcy Code (2016) Journey So Far and Way Forward powered by News Karnataka on Tuesday September 28.
Indian Overseas Bank Former Chaiman/Managing Director/CEO M. Narendra hosted the programme. Many guest from various fields participated in the webinar and discussed on IBC.
In the beginning special guest Nikhil Sha said, “Lender community is very clear in legal aspects, and added that in entrepreneurship time matters much. “If process takes too much time both borrowers and lenders lose interest.”
Madan G. P., special guest of the programme said, “There is a need of positive and critical analysis of the system, and government. IBPA should come out of COC and also it should come out of guidelines.”
“We are finding that the trust is missing in this field, once you go into the insolvency. In this profession we have to religiously maintain ethics. Even after we lift our insolvency cases it haunts us for very long, ” said Mamata Binani.
Further, speaker Nirmal Gangawal, said “whenever there is gap between ambition and ability definitely it will create problems”.
Meanwhile another speaker Sanjeev Pandey said, “COB is creation of law. As part of SBI he also said that SBI is the front-runners in creating of entrepreneurs.”
Speaking at the webinar, Neelam Desai said, “IBC is very useful in this country.”
Lastly Arun Saxena said, “Insolvency profession should be made available for all in the nation.”
In the debate session, the speaker Abzeer answering to the question raised by host said that “many recommendations submitted by parliamentary commission are not functioning and it is not so easy to apply that recommendation. They all are based on regulation, and the price banding is an immature process.”
Another special guest Dubey V N said, “Indian law has giving the permission to attend the consultancy, but the greater challenge we face is with judiciary, and legislatory levels.”
