An Insolvency Practitioners Bar Association (IPBA) has been formed and registered as a society under the Societies Registration Act, 1860..The Association has been formed by various professionals, including insolvency practitioners, chartered accountants, company secretaries, cost accountants and lawyers, who regularly practice in the company jurisdiction in India..The current executive committee is headed by advocate Sumant Batra, Managing Partner of Kesar Dass B & Associates as the President, advocate GP Madaan, Managing Partner Madaan Law Offices as the Vice President, and Vineet K Chaudhary as the Secretary. The by-laws of the association provide for a new executive committee to be elected as early as possible, not later than one year..As the new Companies Act provides for representation of litigants through the advocates, company secretaries, cost accountants and chartered accountants, the association provides for membership to professionals from all such institutions..The launch was held on August 11 at FICCI, and attended by the Supreme Court’s Justice AK Sikri as the Chief Guest, Virender Ganda, President NCLT & AT Bar Association, and various advocates, senior professionals and members of the Bar. Also in attendance was former Chief Justice of the Jammu & Kashmir High Court and President of the National Company Law Tribunal, Justice MM Kumar..Speaking to Bar & Bench, Sumant Batra, President of IPBA, said that this bar will play an important role in the insolvency system at this point of time. He said that the insolvency professionals sit at the heart of insolvency law and that there is a necessity of an independent perspective from the private sector. He also said that this body is something which will work to fill that gap..Further explaining the objectives of the Bar Association, he said that it will act as a representative body which will work on improving the quality of assistance rendered to the NCLT. Further, the Bar will work to strengthen the knowledge base of its members so that they can be understand and comprehend the law. This purpose shall be achieved by holding seminars, interactive sessions etc. His prime focus, initially, will be on developing the infrastructure of the NCLT..Speaking at the occasion, Justice Sikri said that this Bar Association is different from other traditional bar associations and is one of its kind so far in the country. He also said that in order to win the confidence of the international community and the stakeholders, the Insolvency and Banking Code, 2016 needs to be properly implemented.
An Insolvency Practitioners Bar Association (IPBA) has been formed and registered as a society under the Societies Registration Act, 1860..The Association has been formed by various professionals, including insolvency practitioners, chartered accountants, company secretaries, cost accountants and lawyers, who regularly practice in the company jurisdiction in India..The current executive committee is headed by advocate Sumant Batra, Managing Partner of Kesar Dass B & Associates as the President, advocate GP Madaan, Managing Partner Madaan Law Offices as the Vice President, and Vineet K Chaudhary as the Secretary. The by-laws of the association provide for a new executive committee to be elected as early as possible, not later than one year..As the new Companies Act provides for representation of litigants through the advocates, company secretaries, cost accountants and chartered accountants, the association provides for membership to professionals from all such institutions..The launch was held on August 11 at FICCI, and attended by the Supreme Court’s Justice AK Sikri as the Chief Guest, Virender Ganda, President NCLT & AT Bar Association, and various advocates, senior professionals and members of the Bar. Also in attendance was former Chief Justice of the Jammu & Kashmir High Court and President of the National Company Law Tribunal, Justice MM Kumar..Speaking to Bar & Bench, Sumant Batra, President of IPBA, said that this bar will play an important role in the insolvency system at this point of time. He said that the insolvency professionals sit at the heart of insolvency law and that there is a necessity of an independent perspective from the private sector. He also said that this body is something which will work to fill that gap..Further explaining the objectives of the Bar Association, he said that it will act as a representative body which will work on improving the quality of assistance rendered to the NCLT. Further, the Bar will work to strengthen the knowledge base of its members so that they can be understand and comprehend the law. This purpose shall be achieved by holding seminars, interactive sessions etc. His prime focus, initially, will be on developing the infrastructure of the NCLT..Speaking at the occasion, Justice Sikri said that this Bar Association is different from other traditional bar associations and is one of its kind so far in the country. He also said that in order to win the confidence of the international community and the stakeholders, the Insolvency and Banking Code, 2016 needs to be properly implemented.
