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SIPI-INDIA | A Think Tank For Insolvency Industry
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An independent think tank for the
insolvency industry

ABOUT US

History

An independent think tank for the insolvency industry, SIPI was founded in the year 2009 as the Society of Insolvency Practitioners of India as an initiative of the Ministry of Corporate Affairs (MCA), Government of India, to serve as a not-for-profit self-regulatory body of insolvency practitioners under the insolvency regime proposed to be introduced as part of amendments to the Companies Act, 2013. However, the insolvency related amendments to the Companies Act, 2013 were not notified and a new legal framework for licensing and regulation of insolvency professionals was provided under the Insolvency and Bankruptcy Code, 2016.
With introduction of the new regulatory regime under the Code, an Empowered Group was established under the chairmanship of Mr. Jitesh Khosla, former Additional Secretary, Ministry of Corporate Affairs to re-visit the role of the organisation in the new insolvency regime. The Empowered Group comprised of the following:

Mr. Jitesh Khosla, IAS (Retd.) former Additional Secretary, Ministry of Corporate Affairs (Chairman)
Mr. Sumant Batra, Head – Insolvency, Kesar Dass B & Associates
Mr. Varun Gupta, KPMG
Mr. Vinayak Bahuguna, President and CEO, Asset Reconstruction Company of India
Mr. Shrikant Johri, Senior Executive, Legal, Indian Bank’s Association
Mr. Sajeve Deora, Integrated Capital Services
Prof. Vaneeta Patnaik, WB National University of Juridical Sciences
Mr. Harish Chander, Executive Vice President, Edelweiss Asset Reconstruction Company Ltd.
Mr. Vivek Sibal, Advocate

Based on the recommendations of the Empowered Group, the Society of Insolvency Practitioners of India was converted into an independent think tank for the insolvency industry. It was also re-named as SIPI. SIPI is registered as a society under the Societies Registration Act, 1860.

Role

Policy Development Support

SIPI contributes to robust policy making by studying the impact of the insolvency framework, investigating its strengths, weaknesses, opportunities and threats on a regular and on-going basis, and providing feedback to policy makers based on international best practices, country dynamics and experience of implementation on ground. Our recommendations have led to issuance of clarifications under the Code by the Ministry of Corporate Affairs, and changes in regulations by the Insolvency and Bankruptcy Board of India and Securities and Exchange Board of India. SIPI works towards strengthening the interaction between the policy makers,thinkers, experts and academics.
SIPI is not a lobbying body for any stakeholders and functions as an independent body for the benefit of the insolvency industry by assisting in constant development of the insolvency framework, eco-system and soft infrastructure.

Development of Best Practices and Standards

A key hallmark of SIPI is to develop best practices and standards for the insolvency industry.
Soon after the implementation of the Code commenced, SIPI set up a Task Force on Best
Practices. In the first phase of its work, the Task Force drafted voluntary best practices
guidelines for the insolvency professionals. The Insolvency and Bankruptcy Board of India
sought guidance from these guidelines while reviewing the regulations in respect of role and
duties of insolvency professionals in the insolvency resolution process.

Capacity Building

Another thrust of SIPI is to assist the insolvency industry in the development of a world class soft infrastructure by cultivating a high-end cadre of insolvency professionals, insolvency tutors and other stakeholders by developing and delivering providing educational and training programmes.

Knowledge Development

SIPI produces and disseminates deeply researched reports and papers on various dimensions and aspects of the insolvency market to enhance and update the knowledge of market players. We also collect, collate and analyse data and material to document and map the progress and impact of insolvency industry.

Designing of insolvency courses

We design insolvency courses for law and business schools, and help in delivering courses by mobilising resources.

Technical Partnership for Conferences and Seminars

SIPI collaborates as technical partner in conferences, seminars, workshops, by producing the technical content, designing the technical programme, identifying and sourcing speakers.

STRUCTURE

PRESIDENT

Sumant Batra

NATIONAL CONVENER

Harish Chander

BOARD OF GOVERNORS

Cyril Shroff

Bahram Vakil

T.K. Viswanathan

Sagar Shankar

REGIONAL ROUNDTABLES

Mumbai

Delhi

Hyderabad

OUR WORK

Policy Development Support

Improving implementation of the Insolvency and Bankruptcy Code 2016 After operationalization of the Insolvency and Bankruptcy

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Technical Partnerships for Conferences

SIPI has served as a knowledge partner for the successful conferences and seminars on insolvency organized in the

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Stakeholder Engagement

SIPI has organized many roundtables on the request of IBBI to obtain market feedback and for the dissemination of best practices.

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Designing Insolvency Courses

Insolvency Laws – spreading knowledge far and wide – An Edelweiss-SIPI initiative In July & August 2017, SIPI partnered with the

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Asian Principals of Restructuring

Mr. Sumant Batra, Member, Advisory Board of the Asian Business Law Institute Singapore has been appointed as Member of the Global

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Best Practices Task Force

In March 2017, SIPI set up a Task Force on Insolvency Best Practices to recommend voluntary best practices in the areas of insolvency

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Insolvency Moot Competition

Insolvency is a sophisticated and complex economic law. It is one of the most critical components of the financial architecture of any

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GRR Award Hosting

India won the prestigious GRR Award for the most improved jurisdiction on 26 June 2018. This global award recognizes the jurisdiction

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OUR PUBLICATIONS

Effective Implementation of Insolvency and Bankruptcy Code

Year : 2017

Insolvency and Bankruptcy Code, 2016 and Distressed Assets Opportunities

Year : 2018

Insolvency Research Foundation – Report of Joint Steering Committee

Year : 2019

ROUNDTABLES

The Mumbai Roundtable was inaugurated by Dr. M.S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India on 7 November 2017. The Roundtable serves as an independent platform to engage with the eminent experts, insolvency practitioners and stakeholders from the western region of the country to gather their views on the key insolvency developments, share experiences on the functioning of the Code, synthesize their views and suggestions and share the feedback with the policymakers to assist in the development and improve the efficiency of the insolvency framework.

 

Chairperson 
Mr. Bahram Vakil, Founder Partner, AZB Partners is the chairperson of the Mumbai Roundtable. The SIPI Chairperson is the ex-office co-chair of Mumbai Roundtable. The Chairperson of the Roundtable is the ex-office member of the Governing Board of SIPI.
Members
The Roundtable comprises of 12 permanent members and a maximum of 12 special invitees. The Roundtable may, from time to time, hold discussions with a larger audience.
Meetings
The Roundtable meets frequently in Mumbai.
Reporting
The Roundtable reports to the Governing Board.
 

The Roundtable serves as an independent platform to engage with the eminent experts, insolvency practitioners and stakeholders from the northern region of the country to gather their views on the key insolvency developments, share experiences on the functioning of the Code, synthesize their views and suggestions and share the feedback with the policymakers to assist in the develop and improve the efficiency of the insolvency framework.

 

Chairperson
Mr. T.K. Viswanathan, Chairman, Bankruptcy Law Reforms Committee is the chairperson of the Delhi Roundtable. The SIPI Chairperson is the ex-office co-chair of Delhi Roundtable. The Chairperson of the Roundtable is the ex-office member of the Governing Board of SIPI.
Members
The Roundtable comprises of 16 permanent members and a maximum of 12 special invitees. The Roundtable may, from time to time, hold discussions with a larger audience.
Meetings
The Roundtable meets frequently in Delhi.
Reporting
The Roundtable reports to the Governing Board.
 

The Hyderabad Roundtable was launched by Dr. M.S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India on 19 January 2019. The Roundtable serves as an independent platform to engage with the eminent experts,
insolvency practitioners and stakeholders from the Southern Region of the country to gather their views on the key insolvency developments, share experiences on the functioning of the Code, synthesize their views and suggestions, and share the feedback with the policymakers to assist in the development and improve the efficiency of the insolvency framework.

 

Chairperson
Ms. Aparna Ravi, Partner, Samvad, is the chairperson of the Hyderabad Roundtable. The SIPI Chairperson is the ex-office co-chair of Hyderabad Roundtable. The Chairperson of the Roundtable is the ex-office member of the Governing Board of SIPI.
Members
The Roundtable comprises of 16 permanent members and a maximum of 12 special invitees. The Roundtable may, from time to time, hold discussions with a larger audience.
Meetings
The Roundtable meets frequently in different locations in Southern part of India.
Reporting
The Roundtable reports to the Governing Board.
 

CONTACT US

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Phone

Email

Subject

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Please, drop us a note.

Address

15, Birbal Road, Jangpura Extension, New Delhi-110014.

Phone

011 49785744

Email

info@sipi-india.com

contact@sipi-india.com

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Insolvency Research Foundation