#IBBIAnnualDay | The Insolvency and Bankruptcy Board of India (IBBI) celebrated its Seventh Annual Day with great fervor. Justice Shri Ashok Bhushan, Chairperson, National Company Law Appellate Tribunal graced the occasion as Chief Guest, lauding the transformative journey of India’s corporate insolvency landscape since the introduction of the Insolvency and Bankruptcy Code (IBC). He commended IBBI for its proactive regulatory approach and emphasized the importance of continuous innovation and capacity building in the ecosystem.
Chief Justice (Retd) Shri Ramalingam Sudhakar, in his Annual Day lecture, applauded IBBI’s achievements in the short span of 7 years. He highlighted the significant efforts by the Government and IBBI in reviewing the IBC provisions and emphasized the role of AI in achieving better and faster outcomes in proceedings.
Dr. Manoj Govil, Secretary, Ministry of Corporate Affairs (MCA), acknowledged the highest number of resolutions witnessed in the year 2022-23 and praised IBBI’s role in bringing expertise and efficiency to insolvency proceedings. Shri Ravi Mital, Chairperson, IBBI, noted the remarkable recovery of three lakh crore through IBC, enabling creditors to lend multiple times more in the market.
The event also marked the release of insightful publications, offering diverse perspectives on the IBC, its origin, judicial interpretations, technological advancements, real-world case studies, and potential next-generation reforms. The 7th Annual Day of IBBI brought together esteemed dignitaries, stakeholders, and experts in the field of insolvency and bankruptcy, reflecting on the achievements and contributions in this domain.
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