“Cracking the Code – IBC 2016 & the Employee Rights & Plight !” – THE NATION WANTS TO KNOW !

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“Cracking the Code – IBC 2016 & the Employee Rights & Plight !” – THE NATION WANTS TO KNOW !

Corporate Galaxy Human Capital in association with Treating People Right presents “Cracking the Code – IBC 2016 & the Employee Rights & Plight !” DOES ANYBODY CARE ENOUGH ?

Corporate Galaxy Human Capital

in association with 

Treating People Right

presents  

“Cracking the Code – IBC 2016 & the Employee Rights & Plight !”

 DOES ANYBODY CARE ENOUGH ?  

“As many as 10,860 cases under the Insolvency and Bankruptcy Code were pending before the National Company Law Tribunal (NCLT) at the end of September 2019. As per the data provided by NCLT, a total of 19,771 cases were pending with NCLT benches on 30.09.2019, which included 10,860 cases under Insolvency and Bankruptcy Code (IBC), 2016.

Out of 18,782 cases filed under IBC, 2016 at the end of June 2019, 2,173 cases were admitted under the Code. Out of 2,173 admitted cases, 1,274 cases were ongoing under different stages of resolution process, 129 cases had resulted in resolution, 491 cases had been approved for commencement of liquidation process, 279 cases had been closed. 

The above nos. and news of September 2019 of  Pre-Covid times seem very benign in comparison to what is on the horizon in September 2020. The COVID19 has broken the already strained backbone of the Indian economy with the total demolition of demand. While the Government of India and the Reserve Bank of India have initiated measures to mitigate the situation and arrest a free fall, the inevitable is inevitable !

The impact of failing businesses on the  economy and society is acute and in the centre of  this entire maze is the common man – the salaried employee – bearing the brunt of the a lethargic, complicated, often corrupted and shameless “system”.

If we assume just 100 employees at work in each of the 10860 companies facing IBC proceedings, we are talking about more than 10 lakh employees undergoing serious financial hardship alongwith the companies they work for – this is subject to the assumption that the companies are still operational. This figure also does not include thousands of proprietory firms which don’t come in the ambit of NCLT.

  • What are the provisions safeguarding the interests of an employee of a firm undergoing the CIRP ?
  • Why the IBC has left out the bonafide interests of the employee ?
  • Who ensures the workmen and employee rights ?

Come join us and get all your answers !

 

Presentation Schedule

Time Slot    Presentation
11:10 – 11:25 am Ms. Seoula Vas The IBC – 2016 – Genesis and Evolution
11:25  – 11:40 am Ms. Prajakta Menezes A step by step primer of the CIRP
11: 40 – 12:00 pm Mr. Lancy D’Souza The Employment & Employee Angles in CIRP
12:00 – 12:15 pm Mr. Manan Sanghai  The Role of IBBI, NCLT, NESL and the RBI in speedy resolution of CIRP
12 :15  – 12:30 pm Mr. Vimal Sanghavi The Gaps in IBC 
12:30 pm – 1:00 pm Q & A

 

 

 

  

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