Insolvency and Bankruptcy Code reforms helped easing financial distress in MSME sector: IBBI Chief

New Delhi, Feb 5 (KNN) The reforms initiated in the Insolvency and Bankruptcy Code substantially helped to mitigate the financial distress faced by the MSME sector due to covid-19, said Dr. Navrang Saini, Chairperson, IBBI.

He was addressing the inaugural session of International Conference on MSMEs earlier this week. 

He highlighted the importance of MSMEs and its significant contribution to the Indian economy along with various challenges faced by them. 

The Insolvency and Bankruptcy Board of India (IBBI) organised a one day online International Conference on “MSMEs: Legislative and Regulatory Challenges”. 

It was held in association with UNCITRAL RCAP, Gujarat National Law University (GNLU) and Tamil Nadu National Law University (TNNLU).

The Conference included four technical sessions and an international roundtable. 

The sessions covered issues relating to MSMEs: Legal and Regulatory Challenges; MSMEs and Indian Economy: Role of Government; MSMEs and IBC and MSMEs and Impact of COVID-19. 

Ritesh Kavdia, Executive Director, IBBI chaired the international roundtable.

Robert Walters, Professor of Law Victoria University, Australia; Monica Canafoglia, Legal Officer, ITLD Office of Legal Affairs, UNCITRAL Vienna; Lyn Martin Professor, Anglia Ruskin University, UK; Stephanie Rohlfing-Dijoux, Professor, University of Paris; Dr. Rajendra Prasad Gunputh, Dean, School of Law University of Mauritius; Poonam Sinha Director, Entrepreneurship Education, NIESBUD; Anurag K. Agarwal, Professor, IIM – Ahmedabad; Debajyoti Ray Chaudhuri, MD & CEO, NeSL; Dhananjay Singh (IRS), Deputy Commissioner, CBDT; Prof.(Dr.) Mamata Biswal, Dean of Faculty & Academic Affairs & Professor of Law and ICSSR Senior Research Fellow, Gujarat National Law University and Rajesh Kumar Gupta, Chief General Manager, Insolvency and Bankruptcy Board of India were the other eminent speaker who joined the discussion. (KNN Bureau)