The Insolvency and Bankruptcy Board of India (IBBI) celebrated its Fifth Annual Day on 1st October, 2021. Dr. Bibek Debroy, Chairman, Economic Advisory Council to Hon’ble Prime Minister graced the occasion as the Chief Guest. Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs and Dr. Krishnamurthy Subramanian, Chief Economic Adviser, Ministry of Finance were Guests of Honour. Dr. M. S. Sahoo, Former Chairperson, IBBI graced the occasion as a special invitee.
To commemorate its establishment, IBBI has instituted an Annual Day Lecture Series since its inception. Dr. Bibek Debroy delivered the Annual Day Lecture on ‘From No Exit to Easy Exit ‐ A Case Study of IBC’. Calling IBC, a work in progress, he lauded that IBC and IBBI have made it easy for entrepreneurs to exit, however, endeavour has to be to make the processes still easier. On the occasion, Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs and Dr. Krishnamurthy Subramanian, Chief Economic Adviser, Ministry of Finance appreciated the development of IBC ecosystem and outcomes of Code in a short span of time. Dr. M. S. Sahoo, Former Chairperson, IBBI, spoke about the initial journey of IBBI and IBC, despite no prior experience of such market institution and mechanism in country. In his welcome remarks, Dr. Navrang Saini, Whole Time Member, IBBI, thanked all stakeholders who have been part of the successful journey of IBBI and IBC’s ecosystem. Dr. Mukulita Vijayawargiya, Whole Time Member, IBBI extended a hearty vote of thanks at the conclusion of the event.
As part of the Annual Day celebrations, a few flagship initiatives of IBBI, guided by Shri Sudhakar Shukla, Whole Time Member, IBBI, in celebration of the 5 years of IBC and IBBI, were unveiled. The dignitaries led by Dr. Subramanian released IBBI’s annual publication, ‘Quinquennial of Insolvency and Bankruptcy Code, 2016’. On the occasion, the IBBI, in collaboration with the Indian Institute of Insolvency Professionals of ICAI, released an e-book titled ‘5 years of facilitating ease of exit’ to commemorate five years of enactment of the Code. To commemorate five years of successful implementation of the Code, release of customised ‘My Stamp’ on the ‘Insolvency and Bankruptcy Code, 2016’ was facilitated by Shri Harpreet Singh, Postmaster General, Delhi Circle, Department of Posts, on the occasion. Dr. Subramanian also gave away the medal, certificate of merit and cash award to the best performer of ‘2nd National Online Quiz on Insolvency and Bankruptcy Code, 2016’ organised by IBBI, in collaboration with MyGov.in and BSE IPF from 1st to 31st August, 2021.