IBBI and INSOL India hold International Conclave 2024 on insolvency resolution
On 7 December 2024, in New Delhi, the Insolvency and Bankruptcy Board of India and INSOL India held an International Conclave on 'Insolvency Resolution: Evolution & Global Perspective', with RBI Deputy Governor M Rajeshwar Rao as Chief Guest.
Summary
On 7 December 2024, in New Delhi, the Insolvency and Bankruptcy Board of India (IBBI), in association with INSOL India, organised an International Conclave on 'Insolvency Resolution: Evolution & Global Perspective'. RBI Deputy Governor M Rajeshwar Rao, the Chief Guest, highlighted the journey of the Insolvency and Bankruptcy Code (IBC) since 2016, its role in improving bank asset quality and in facilitating pre-admission settlements of underlying debts of over Rs 10 lakh crore. IBBI Chairperson Ravi Mital urged innovative approaches such as mediation, creditor-led resolution and group insolvency mechanisms.
Key facts
- Date / place
- 7 Dec 2024, New Delhi
- Organisers
- IBBI with INSOL India
- Theme
- Insolvency Resolution: Evolution & Global Perspective
- Chief Guest
- RBI Deputy Governor M Rajeshwar Rao
- IBC pre-admission settlements
- Over Rs 10 lakh crore
- IBBI Chairperson
- Ravi Mital
Practice MCQs 3 questions
With which organisation did the Insolvency and Bankruptcy Board of India organise the International Conclave 2024 in New Delhi on 7 December 2024?
Show answer
Correct answer: B — INSOL India
PIB (8 Dec 2024) and RBI speech (7 Dec 2024): IBBI in association with INSOL India organised an International Conclave on 'Insolvency Resolution: Evolution & Global Perspective' in New Delhi.
Who was the Chief Guest at the IBBI-INSOL India International Conclave held on 7 December 2024?
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Correct answer: D — M Rajeshwar Rao
PIB (8 Dec 2024): RBI Deputy Governor M Rajeshwar Rao graced the occasion as Chief Guest; Ravi Mital is the IBBI Chairperson. The RBI published his inaugural address dated December 7, 2024.
According to the RBI Deputy Governor at the IBBI conclave on 7 December 2024, the IBC has facilitated pre-admission settlements of underlying debts of over:
Show answer
Correct answer: C — Rs 10 lakh crore
PIB (8 Dec 2024): M Rajeshwar Rao emphasised the IBC's role in improving bank asset quality and facilitating substantial pre-admission settlements of underlying debts of over Rs 10 lakh crore.