IBC and Role of Insolvency Professionals- Law Insider Certificate Course

IBC and Role of Insolvency Professionals Law Insider


Insolvency is such a financial state which is caused due to the inability of an individual or company to pay off outstanding debts timely to the creditors or banks because the assets are insufficient. This usually arises when the cash inflows of a person are less than the cash outflows. So, their income is not enough to cover up their liabilities.

In the case of a company, it means that the total money inflows and the assets combined are less than its liabilities. It is reflected in:

  • Cash flow crisis
  • Loss of business contracts
  • Fall in sales
  • Loss of customers
  • Poor Credit Ratings, etc.

Therefore, insufficient funds and liquidity can make the repayments of debts almost impossible, which makes a person insolvent.

Bankruptcy refers to the legal proceeding, with respect to a person who is not able to meet the financial obligations or has no such prospect of being able to repay the dues in the future when they fall due.

  • It starts when a petition is filed by the debtor himself or the creditor before an appropriate authority or court by sending an application, wherein the individual declares himself as insolvent.
  • So, it is up to the court to accept or dismiss the petition.
  •  On the acceptance of the petition, the court decides the appropriation of the personal assets of the insolvent among different creditors or banks.
  •  Hence, when a person files a petition regarding bankruptcy, he obliges to pay off what is owed by him for which he seeks help from the court.


  • Learn in-Depth Knowledge and the Process of IBC.
  • Nature of Bankruptcy & Insolvency
  • To Analyse difference between Insolvency & Bankruptcy.
  • Arising of Bankruptcy & Insolvency


The detailed Course outline is as follows:


Session 1 on 09/04/2022 (Saturday) at 5 P.M
Session 2 on 10/04/2022 (Sunday)  at 4 P.M

SESSION 1: (2.5 hours) – 09/04/2022 (Saturday) at 5 P.M

Insolvency and Bankruptcy Code and Procedure

  1. Introduction
    1. Difference between Insolvency, Bankruptcy and Liquidation
    2. Difference between Winding-up and Liquidation
    3. Background of insolvency laws in India
  2. Overview IBC
    1. Object and Applicability of the Code
    2. Need for the Code
    3. Understanding important terms in the IBC
    4. Authorities and Enforcement Mechanism in IBC
  3. Corporate Insolvency Resolution Process (CIRP)
    1. Who can initiate a CIRP
    2. Difference between Financial Creditor, Operational Creditor and Corporate Debtor
    3. Procedure of CIRP
    4. Timeline under CIRP
    5. Effects on admission of the insolvency application
  4. Liquidation Process
    1. Difference between insolvency resolution and liquidation process
    2. Initiation of liquidation process
    3. Consequences of initiation of liquidation proceedings
  5. Other Important concepts in IBC

SESSION 2:( 2.5 hours) 10/04/2022 (Sunday)  at 4 P.M

Insolvency Professionals

  1. Introduction
    1. Who are Insolvency Professionals
    2. Applicability of Law governing the Insolvency Professionals under the IBC.
  2. Role of Insolvency Professionals
    1. Eligibility for becoming an Insolvency Professionals.
    2. Can they sue anyone or anyone can sue them.
  3. Practical aspects governing Insolvency Professionals.
    1. Redressal authorities for and against Insolvency Professionals.
    2. Role and extent of IBBI vis-a-vis Insolvency Professionals.
    3. Procedure to be followed by an Insolvency Professionals before adjudicating authority and IBBI.


Legal Professionals/Advocates

Law Students

Bank Officials

Corporate Officials

Insolvency Agents


Question and Answer session will be there after every session.


Adv Gauri Saraswat– She is good at Legal Consulting, Corporate Law, Custom Software Development, Content Strategy, Bankruptcy Law.

Avineet Singh Chawla– He is an Arbitration Lawyer, Assistant Lecturer & Assistant Dean at Jindal Global Law School.

Event Concluded

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