I got pulled into restructuring practice at the age of 28. My exposure to insolvency systems outside of India began in 1997, when Late Shri Arun Jaitley, the then Minister of Law and Justice of the Government of India, invited me to join INSOL India as its founding secretary. One thing led to another, and soon, I was selected by INSOL International to serve as a nominee director on its Board. I had the distinction of serving on INSOL International Board for 10 years, including as its Vice President and President (as the youngest and the first Asian to head the organisation). During this period, I also served as a senior consultant with the IMF, The World Bank Group, OECD and other multilateral developmental institutions, and had the opportunity to work in areas of insolvency in more than 20 countries.
During these 15 years, I had the privilege of learning about many insolvency systems, laws and best practices prevalent around the world. At INSOL International, I found a mentor in Neil Cooper, the grandfather of modernisation in insolvency reforms, to whom I owe my passion for insolvency policy development, capacity building and institution building.
In 2016, when the Insolvency and Bankruptcy Code (Code) was being considered for enactment by the Indian Parliament, it was time to focus back home, and apply my learning and experiences for the implementation of the Code and the development of a sound insolvency system in the country. I dedicated the next six years individually, and through the mediums of the Insolvency and Bankruptcy Board of India, SIPI, and other institutions, to help build a world-class insolvency industry.
The Code has moved forward in leaps and bounds in a very short span of time. The development of a sophisticated insolvency industry in a short period of time shows that the Indian establishment has the capacity to implement complex economic laws with great maturity, its stakeholders are quick learners, and Indian professionals are capable of providing high quality services. To top it all, the nation has judges who can produce high-end jurisprudence in a branch of economic law, new to the country.
Alongside addressing the implementation gaps, we need to build on our achievements and aim for a seat on the global head table of insolvency. In 2019, the Prime Minister envisioned making India a USD 5 trillion economy and a global economic powerhouse by 2024-25. To support this goal, we need a robust insolvency system that ranks as one of the best, globally. Institutions established within the framework of the Code are supporting this national aspiration, ably. It is now time for the private sector to take this effort to the next level and build new institutions which drive the growth and expansion of the insolvency system, vertically and horizontally, and support the goal of making India as one on the most attractive economies in the world.
The establishment of the Insolvency Law Academy stems from this goal and vision.
I firmly believe the Insolvency Law Academy is an idea whose time has come. An endeavour such as this can succeed only with support from those who have knowledge, experience, and resources to share. I humbly urge you to come forward, support and join us in making this vision a reality, contribute in developing a world-class insolvency system in India!
Sumant Batra
Founder
Insolvency Law Academy
During these 15 years, I had the privilege of learning about many insolvency systems, laws and best practices prevalent around the world. At INSOL International, I found a mentor in Neil Cooper, the grandfather of modernisation in insolvency reforms, to whom I owe my passion for insolvency policy development, capacity building and institution building.
In 2016, when the Insolvency and Bankruptcy Code (Code) was being considered for enactment by the Indian Parliament, it was time to focus back home, and apply my learning and experiences for the implementation of the Code and the development of a sound insolvency system in the country. I dedicated the next six years individually, and through the mediums of the Insolvency and Bankruptcy Board of India, SIPI, and other institutions, to help build a world-class insolvency industry.
The Code has moved forward in leaps and bounds in a very short span of time. The development of a sophisticated insolvency industry in a short period of time shows that the Indian establishment has the capacity to implement complex economic laws with great maturity, its stakeholders are quick learners, and Indian professionals are capable of providing high quality services. To top it all, the nation has judges who can produce high-end jurisprudence in a branch of economic law, new to the country.
Alongside addressing the implementation gaps, we need to build on our achievements and aim for a seat on the global head table of insolvency. In 2019, the Prime Minister envisioned making India a USD 5 trillion economy and a global economic powerhouse by 2024-25. To support this goal, we need a robust insolvency system that ranks as one of the best, globally. Institutions established within the framework of the Code are supporting this national aspiration, ably. It is now time for the private sector to take this effort to the next level and build new institutions which drive the growth and expansion of the insolvency system, vertically and horizontally, and support the goal of making India as one on the most attractive economies in the world.
The establishment of the Insolvency Law Academy stems from this goal and vision.
I firmly believe the Insolvency Law Academy is an idea whose time has come. An endeavour such as this can succeed only with support from those who have knowledge, experience, and resources to share. I humbly urge you to come forward, support and join us in making this vision a reality, contribute in developing a world-class insolvency system in India!
Sumant Batra
Founder
Insolvency Law Academy
