Indian Institute of Corporate Affairs and Association of ARCs Sign Five-Year MoU for Insolvency Education Enhancement

Key facts

• The Indian Institute of Corporate Affairs (IICA), an autonomous body under the Ministry of Corporate Affairs, signed a Memorandum of Understanding (MoU) with the Association of ARCs in India.
• The collaboration aims to strengthen the Post Graduate Insolvency Programme (PGIP) by integrating theoretical knowledge with practical industry experience.
• The MoU establishes a framework for industry experts from ARCs to contribute to teaching and faculty support to reorient PGIP course modules.
• The partnership promotes joint research projects in areas such as debt restructuring, financial markets, stressed assets, and insolvency resolution.
• The partners will explore internships and placement-related opportunities for PGIP participants; the MoU also envisages an annual joint conference.
• The Association of ARCs in India is the representative body for Asset Reconstruction Companies registered with the Reserve Bank of India.
• The regulatory framework issued by the Reserve Bank of India (RBI) on October 11, 2022, permitted eligible ARCs to act as resolution applicants under the Insolvency and Bankruptcy Code (IBC), 2016.
• The MoU has been signed for a period of five years.