Demystifying Prepack Insolvency Framework for MSMEs

IIIP of ICAI-WASME National Conference
Demystifying Prepack Insolvency Framework for MSMEs

Friday, 10 September, 2021 | Time: 4.00 PM – 6.00 PM

-Registration Link-

About Conference

IBC 2016 has been in vogue for nearly five years and has provided effective succor to creditors in an expeditious manner. The code and processes therein have reasonably evolved and stabilized. The raging pandemic in the form of Covid 19 with the attendant adverse impact on economy accompanied by stress to various industries including MSMEs fueled the thought process of the policy makers leading up to the realization that a Pre-packaged Insolvency Resolution Process (PPIRP) may be need of the hour. PPIRP has been envisaged as a subset of the IBC code and an additional option for resolving insolvency, given the obvious fact that normal CIRPs would not yield the outcome as desired by the IBC code due to the anticipated dearth of Resolution Applicants in the aftermath of the adverse impact of Covid 19. It was at this juncture that the Government thought it fit to promulgate Pre-pack Insolvency Resolution Process (PPIRP) with the avowed objective for aiding the existing insolvency framework by cutting costs and the time taken for resolution process.

MSMEs are considered as the engines of economic growth and for promoting equitable development in the country. MSMEs play crucial role in providing large employment opportunities at comparatively lower capital cost than large industries and also help in industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth. The MSME sector’s contribution to India’s GDP is significant and has been measured at around 30%. Moreover, MSME Sector contributes to about 48% of the total exports of the country.

Given the criticality and noble underlying objectives, WASME along with IIIPI, the frontline regulator and the largest insolvency professional agency in India, is organizing a web-conference to bring about better awareness among the stakeholders of the MSME sector. We are pleased to inform you that TDP Global is the strategy and implementation partner of WASME. We trust that the active participation of your prestigious organization will add value for successfully conducting the conference.

KEY DISCUSSION TOPICS-
-Demystifying Prepack Insolvency Framework for MSMEs
-key features of PPIRP, MSMEs’ perspectives
-COC’s perspectives
-Expectations of MSMEs from the framework and likely challenges
-Emerging jurisprudence around PPIRP, issues envisaged and likely solutions,
-COC role & expectation,
-Roles of IPs, balancing rights of stakeholders,
-Direction for best practices and self-regulation

Target Participants:
Including- MSME Sector, Directors, Promoters, Finance Officers, IP Professionals, CAs, CMAs, CSs, Senior Staff and Officers from Regulators, Credit Institutions, Banks, NBFC, Asset Reconstruction, Insolvency professionals, Legal Firms, Financial Institutions, Real Estate, Investors, Consultants, Academician and Research Scholars, Lawyers, Investment funds.

There is no participation fee.

The link for attending the session will be sent to all the registered participants.

Kindly register at https://forms.gle/Yt4KRXkAnnMsYrzE8