Media Release

Mangaluru, Oct 21: The Post Graduate Department of Commerce of St Agnes College (Autonomous) organized a national webinar on the topic 'Insolvency and Bankruptcy Code and Its Impact on Indian Industry' on October 19 on the Google Meet platform.

The keynote speaker was Prof Dr T Mallikarjunappa, the head of the department of Commerce and International Business School of Business Studies, Central University of Kerala, Kasargod, Kerala.

The webinar was commenced by Dolan C Banerjee, the HOD of Commerce, giving an overview of 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. Professor Dr T Mallikarjunappa began his session by interacting with the students and faculty and explained the concept of long term loans. Professor 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.

The application of the provision of the code was discussed by the speaker. Professor 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 persons who may initiate the Corporate Insolvency Resolution Process and initiation of corporate insolvency resolution process by financial creditors. The keynote speaker further continued giving insight on the Declaration of Moratorium and Public Announcement, Liquidation Process and Fast Track Corporate Insolvency Resolution Process. The speaker concluded by highlighting the Impact on the 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 the COVID reason. He further added that new investments in India plunged to a 14-year low. The webinar was presided over by Sr Dr Venissa AC, the principal of 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 a question and answer session where, the participants interacted with the speaker and Jasmine Melisa Saldanha, student, II MCom proposed the vote of thanks.