Doctoral research programme in insolvency and bankruptcy in offing

New Delhi, May 4 (IANS) With an objective to promote high-quality research in the field of insolvency and bankruptcy, the Indian Institute of Insolvency Professionals of ICAI (IIIPI) along with the National Law University Delhi (NLUD) will award a fellowship to pursue Ph.D in the domain of insolvency and bankruptcy laws and regulations.

Ashok Haldia, Chairman of IIIPI's governing board, told IANS that this fellowship shall be available for admission from the next academic year (2024). It shall be disbursed in instalments over three years of the Ph.D. programme.

Risham Garg, a professor at NLUD, said that insolvancy is itself a new law, introduced only in 2016.

"So there are only a few scholars in India who are persuing or have done their research in insolvency. Here at NLUD, one seat for a Ph.D scholar is being sponsored by the IIIPI," Garg said.

To start this new fellowship programme, IIIPI and NLUD have reached on a common platform after inking an MOU.

"We are discussing with several other institutions for sponsored fellowship in this research programme," Garg said.

As per the MoU, the main topic and sub-topics of research will be decided by NLUD's doctoral committee in accordance with the guidelines of the University Grants Commission (UGC). The university will also hold a consultation with the IIIPI.

NLUD shall be responsible for selecting the appropriate candidate for the Ph.D programme as per the UGC guidelines. There will also be a mechanism for evaluating the progress of research work as per the Ph.D regulations.

On successful completion of the programme, NLUD will award Ph.D degree to the scholar while IIIPI will publish the research work.

IIIPI, promoted by the Institute of Chartered Accountants of India (ICAI), is the largest frontline regulator under IBC in India with about 63 per cent of insolvency professionals as its members.

IIIPI works under the aegis of the Insolvency and Bankruptcy Board of India (IBBI) to build professionals' capacity and to provide policy inputs to regulators.

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