As part of the ongoing ‘Azadi Ka Amrit Mahotsav’ celebrations, the Insolvency and Bankruptcy
Board of India (IBBI), in association with the State Bank of India (SBI) and the Indian Banks’
Association (IBA), organised a one-day workshop, in hybrid mode, on the subject titled
“Committee of Creditors: An Institution of Public Faith” on 13th December 2021.
- This is the eighth such workshop in the series of events organized by the IBBI for the benefit
of officers of scheduled commercial banks and financial institutions who represent financial
creditors in the Committee of Creditors (CoC), under the Insolvency and Bankruptcy Code, 2016
(Code). Seventy-Three senior officers (Assistant General Manager and above) representing
seventeen scheduled commercial banks and financial institutions participated in the workshop.
- Mr. Ritesh Kavdia, Executive Director, IBBI; Mr. Subrata Biswas, Deputy Managing Director
(SARG), SBI and Mr. V. Chandrasekar, Senior Advisor, IBA delivered the inaugural address
setting the context for the workshop. Mr. Giridhar Kini, CGM (SARG), SBI and Mr. Rajesh
Kumar Gupta, CGM, IBBI delivered the valedictory address.
- The eminent faculty included Mr. Sanjeev Pandey, DGM (NCLT), SBI; Mr. Satish Kumar
Gupta, Insolvency Professional; Mr. Vijay V. Iyer, Insolvency Professional; Dr. (Ms.) Kokila
Jayaram, DGM, IBBI; and Mr. Suhail Nathani, Founding Partner, Economic Laws Practice.
- The workshop aimed at developing a better understanding of the role of and expectations from
the CoC and to build the capacity of financial creditors to ensure that the CoC:
(a) Discharges its statutory duty and responsibility with utmost care and diligence;
(b) Develop capability and motivation to prudently apply it’s commercial wisdom. and
(c) Consider and balance the interest of all the stakeholders in a resolution process.