The Post Graduate Department of Commerce, St. Agnes College (Autonomous) organized a National Webinar on the topic Insolvency and Bankruptcy Code and Its Impact on Indian Industry on 19 October 2020 on the Google Meet platform. The Key Note Speaker was Prof. Dr. T Mallikarjunappa, Head of the Department of Commerce and International Business School of Business Studies, Central University of Kerala, Kasargod, Kerala.
The Webinar was commenced by Ms. Dolan C Banerjee, the HOD of Commerce, giving an overview about the National Webinar Series “Building Core Competencies to Negotiate Challenges”. Associate Professor Dr. Catherine Nirmala, Convenor of the Webinar welcomed the gathering and introduced the Keynote Speaker. Prof. Dr T Mallikarjunappa began his session by interacting with the students and faculty and started to explain the concept of long term loans. Prof. Mallikarjunappa highlighted the Insolvency and Bankruptcy Code where, an Act to consolidate and amend the law relating to reorganization and Insolvency resolution to promote entrepreneurship and to ensure the availability of credit and to balance the interest of all the stakeholders was discussed. Application of the provision of the code was discussed by the speaker. Prof. Dr T Mallikarjunappa enlightened the audience regarding the concept of Insolvency Resolution and Liquidation for Corporate persons and the Process of Corporate Insolvency Resolution under which he discussed the various concepts like person who may initiate the Corporate Insolvency Resolution Process and initiation of corporate insolvency resolution process by financial creditors. The Key note speaker further continued giving insight on Declaration of Moratorium and Public Announcement, Liquidation Process and Fast Track Corporate Insolvency Resolution process. The Speaker concluded by highlighting the Impact on Indian Industry where he said a number of companies are being referred to IBC after IBC Code 2016 and further included that IBC is suspended due to COVID reason further he added saying, new investments in India plunged to 14 -year-low. The Webinar was presided by Sr Dr Venissa AC, Principal, St. Agnes College (Autonomous) and Sr Dr Vinora AC, PG Coordinator. In her presidential address, Sr Venissa pointed out the relevance of the topic during the present economic slowdown caused by the pandemic and several companies facing severe financial distress.
The session came to an end with the question and answer session where, the participants interacted with the speaker and Ms. Jasmine Melisa Saldanha, student, II MCom proposed the Vote of Thanks.
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