Insolvency Law Academy entered into a Memorandum of understanding with the Federation of Indian Micro And Small & Medium Enterprises (FISME) to collaborate for research and policy development in the areas of SME insolvency in 2022.
FISME also agreed to support the ILA National short story contest on Insolvency and Bankruptcy and the winner of the contest was announced on 4th February 2023.
Literature is a powerful medium to sensitise people and build awareness. Stories in particular are impactful and leave a deep and long-lasting impression on the reader. They bring forth invaluable data based on real time experiences and observations or popular perceptions about insolvency. They have a longer shelf life and recall value.
By way of the ILA National Short Story (Insolvency and Bankruptcy) Contest, the Insolvency Law Academy invites short stories on the theme of insolvency and bankruptcy from the public, in accordance with the Guidelines for Participation and Submissions.
The Contest seeks to gather resource material for further research to assist in impact assessment of the basic elements of the Code, build awareness about the benefits of insolvency and bankruptcy law and aim at dispelling the perception of stigma and other negative notions that may serve as an impediment in implementation of Part III of the Insolvency and Bankruptcy Code, 2016 (Code). The Contest aims to promote the much-needed conversation on individual insolvency and help to create awareness of the functioning of sole entrepreneurship or partnerships and their businesses under current bankruptcy law.
The winner of the 2022 edition was Ms. Sakshi Vijay, Associate Professor, Jindal Global Law School. The award of Rs. One Lakh was announced by Ms. Asha Batra, Partner Kesar Dass B. & Associates and Mr. Sanjay Bhatt, Managing Partner, Kesar Dass B. & Associates and was presented by Justice Rajiv Shakdher, Hon’ble Judge, Delhi High Court.
