India has recently overhauled its archaic regional insolvency laws with the introduction of its Insolvency and Bankruptcy Code 2016. The introduction of the new Code is one of a number of measures aimed at improving India’s corporate reorganisation regime. India aspires to be within the World Bank top 50 rankings over the next few years.
ICAEW has signed an agreement with the Indian Institute of Insolvency Professionals of the Institute of Chartered Accountants of India (IIIPI), to be its knowledge partner in relation to insolvency regulation and education.
The agreement, signed on our behalf by Duncan Wiggetts, Executive Director, Professional Standards and Nilesh Vikamsey, ICAI's president, will see colleagues from our Quality Assurance (QA) team provide educational webinars and consultancy advice to the IIIPI to assist them develop their insolvency regulatory framework.
Commenting on our signed agreement, Bob Pinder, QA regional director, said; ‘We are delighted to support ICAI as they start their journey to be the leading regulator of insolvency in India.’