By Chandan Singh | Page 3 News Worldwide | New Delhi 

MoU to strengthen PGIP with industry-led teaching, joint research, data sharing and placement support

NEW DELHI: The Indian Institute of Corporate Affairs (IICA), under the Ministry of Corporate Affairs, has signed a five-year Memorandum of Understanding (MoU) with the Association of ARCs in India to strengthen industry linkages, professional training and research in insolvency resolution and corporate restructuring.

The agreement aims to enhance the industry relevance of IICA’s Post Graduate Insolvency Programme (PGIP), run by its Centre for Insolvency and Bankruptcy, which seeks to develop skilled insolvency professionals and turnaround specialists.

The MoU was signed in the presence of IICA Director General and Chief Executive Officer Gyaneshwar Kumar Singh by IICA Chief Administrative Officer Amrinder Puri and Association of ARCs in India CEO Hari Hara Mishra.

Addressing the gathering, Singh highlighted the evolving role of Asset Reconstruction Companies (ARCs) in India’s insolvency resolution framework, including their eligibility to participate as resolution applicants under the Insolvency and Bankruptcy Code (IBC), subject to regulatory conditions.

He referred to the Reserve Bank of India’s regulatory framework issued on October 11, 2022, following the recommendations of the Sudarshan Sen Committee. The framework permitted eligible ARCs to act as resolution applicants under the IBC, 2016, expanding their potential contribution to corporate insolvency resolution, debt restructuring and the management of stressed assets.

The IICA–ARC India partnership seeks to bridge the gap between academic learning and industry practice by integrating professional expertise into the PGIP curriculum and promoting applied research, internships and knowledge sharing.

Mishra described the collaboration as a partnership with significant potential, stressing the importance of developing a skilled talent pool and generating research insights to maximise value for stakeholders in the distressed-assets ecosystem. He also called for an early implementation strategy, with particular emphasis on strengthening the academic and industry orientation of the PGIP course.

Three pillars of collaboration

The MoU establishes a framework for cooperation across three key areas:

• Industry-oriented education: ARC professionals will contribute to teaching and faculty support, helping align PGIP modules with emerging industry requirements.
• Research and knowledge sharing: The institutions will pursue joint research on debt restructuring, financial markets, stressed assets and insolvency resolution. Data sharing will be subject to applicable legal, regulatory, confidentiality and access requirements.
• Industry engagement and career opportunities: The partnership will explore internships, placement-related support and greater interaction between PGIP participants and industry professionals. An annual joint conference will facilitate discussions on emerging challenges and the dissemination of research findings.

The collaboration is expected to equip PGIP participants to address the complexities of insolvency resolution, corporate restructuring and financial distress management more effectively.

Joint conference proposed for February 2027

The institutions also discussed the possibility of organising a joint conference in February 2027 around the milestones of IBC@10 and SARFAESI@25. The theme and programme will be finalised jointly.

In his vote of thanks, Col. Amandeep Singh Puri described the MoU as a distinctive industry collaboration, emphasising that its success would depend on effective implementation, coordinated efforts and measurable outcomes.

The five-year agreement provides a structured framework for sustained engagement between IICA and the Association of ARCs, with the institutions expected to pursue collaborative research, expert-led teaching and regular reviews of progress.