The Indian Institute of Corporate Affairs (IICA), Ministry of Corporate Affairs, inaugurated the sixth batch of its flagship Post Graduate Insolvency Programme (PGIP) in Manesar, on 8th July 2024. The ceremony was graced by distinguished luminaries including Hon’ble Justice Sh .S. Ravindra Bhat, Judge, Supreme Court of India (Retd.), Dr. Ajay Bhushan Prasad Pandey, Director General and CEO, IICA & Chairperson of National Financial Reporting Authority, Dr Alok Srivastava, Former Technical Member, NCLAT, Shri Sudhaker Shukla, Whole Time Member of IBBI, and Dr. K.L Dhingra, Head of the Centre for Insolvency and Bankruptcy at IICA. In his address on the occasion, Mr. Sudhaker Shukla, WTM of IBBI, highlighted the observations of the Prime Minister of India on the recent occasion of the 90th Anniversary of the RBI wherein the PM spoke on the ‘strategy of recognition, resolution and recapitalisation’. He said that the problem of twin balance sheets is a problem of the past. Mr. Shukla also mentioned that the success of IBC can be seen from the number of Resolutions (close to 1000) during the current year, the number of withdrawal of applications under IBC and 131 percent of resolutions over liquidations from the last 8 years. He also stated that the creation of IBBI as a regulator for Insolvency and Bankruptcy and the PGIP for the young professionals are the first of its kind innovations.