As part of the ongoing ‘Azadi Ka Amrit Mahotsav’ celebrations, the Insolvency and Bankruptcy Board of India (IBBI), in association with the Foreign Commonwealth and Development Office, UK (FCDO), organised a two day ”Train the Trainer” event on “Usage of Alternate Dispute Resolution Techniques to aid the Insolvency Resolution Process”. The event was conducted on 22nd and 23rd October 2021, in online mode.
The “Train the Trainer” programme focused on capacity building and the development of the insolvency framework in India to the next level. As part of the initiative, participants were provided with in-depth practical training and extensively covered the areas related to changing the way to look at disputes, the efficacy of mediation techniques and merits of soft evaluation etc. The initiative is expected to upgrade the skill sets of the participants to enable them to, in turn, act as trainers for Insolvency Professionals and other stakeholders, for further strengthening of the insolvency ecosystem in India.
Dr. (Ms.) Mukulita Vijayawargiya, Whole Time Member, IBBI in her inaugural address, highlighted the advantages of Alternate Dispute Resolution (ADR) Techniques vis-à-vis litigation and discussed various aspects of the insolvency law where ADR techniques may be utilised for better and swifter outcomes. As part of the event, Ms Shikha Parekh, Senior Financial Policy Advisor at the British Deputy High Commission delivered the welcome address and emphasized that IBBI- FCDO partnership has been time tested and growing strong with time.
Forty-five Insolvency professionals, nominated by their respective Insolvency Professional Agencies, participated in the programme. The programme envisages a set of a few more similar sessions on emerging issues in the insolvency landscape in future.
The eminent faculty included Mr Andrew Miller (QC, United Kingdom), Mr Stefano Cardinale (Italy), Mr Anuroop Omkar (Bridge Policy Think Tank) and Ms Kritika Krishnamurthy (Bridge Policy Think Tank).
Disclaimer : This is an official press release by PIB.