ILA and Dvara Research Foundation (’Dvara’) have jointly established a Chair for Personal Insolvency (“Chair”) to serve as a home for various research projects relating to personal insolvency, and micro, small and medium enterprises. The Chair will focus on the opportunity for research to help strengthen India’s insolvency and bankruptcy framework for individuals. While the initial deliverables by the Chair, including, research areas, case studies, papers and policy briefs have been identified, the Chair will have the flexibility to take up other relevant areas in its term.

The initial term of the Chair is three years. The Chair will be “topical” and not “person- focused”, and no individual will formally occupy the Chair unless Dvara and ILA decide otherwise. A Steering Committee will administer the Chair.

Memorandum of Understanding

An agreement to establish the Chair and collaborate on various areas of common interest was executed and exchanged by the two foundations today in Dvara’s office in Chennai on Tuesday, 13th June, 2023. While Dvara Executive Director, Dr. Indradeep Ghosh signed the agreement for Dvara, Sumant Batra, ILA President executed the agreement for ILA.