With growing demand for insolvency professionals, Indian Institute of Corporate Affairs (IICA) has launched a graduate insolvency programme (GIP).

Approved by the Insolvency and Bankruptcy Board of India (IBBI), GIP offers course for those individuals who want to join the insolvency profession or seeking other roles in the value chain, in the country and in foreign jurisdictions.

“An insolvency professional is a key institution of the insolvency regime. The graduates of the GIP will add immense value to the insolvency ecosystem and contribute to its further development,” IBBI chairperson M S Sahoo said.

IICA is established by the ministry of corporate affairs as a think tank that supports initiatives of the Ministry on all matters relating to corporate affairs.

Sahoo said the demand of insolvency professional is growing.

There are 2,500 insolvency professional exists when only corporate insolvency resolution process is presently there, he said.

“A bigger segment which is waiting to come is individual insolvency resolution and individual bankruptcy and when it comes, the demand for such insolvency professionals will increase,” Sahoo said, adding the process to bring in individual insolvency regime is on.

The course provides hand-on experience of real-time situations, cultivates soft skills for the dynamic socio-cultural milieu, and builds domain expertise over two years comprising one year of residential classroom and another year of internship. #casansaar (Source - The Hindu Business Line)