The GNLU Centre for Corporate and Insolvency Law, in collaboration with the Insolvency & Bankruptcy Board of India (IBBI), is organising the 1st Edition of ‘GCCIL – IBBI National Mock – Corporate Insolvency Resolution Process (CIRP) Competition, 2024′ from 4th April, 2024 to 6th April, 2024.
This competition aims to provide students with a comprehensive understanding of the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC). The primary objective is to enhance participants’ procedural knowledge of CIRP and raise awareness about the resolution process outlined in the IBC.
During the competition, students will brainstorm and develop resolution plans for distressed debtors, considering various financial, economic, and legal aspects. These plans will be presented before a Committee of Creditors (CoC) and the National Company Law Tribunal (NCLT) (Artificial). The fate of the debtor will be determined through a vote by the CoC and NCLT (Artificial).
KEY DETAILS OF THE COMPETITION:
– Event: GCCIL-IBBI National Mock-Corporate Insolvency Resolution Process (CIRP) Competition, 2024
– Objective: To inculcate procedural understanding of CIRP under IBC-2016 and make students aware of the resolution process under IBC
– Date: 4-6th April 2024
– Venue: Gujarat National Law University, Gandhinagar, Gujarat
– Format: Teams will develop resolution plans and present them before a Committee of Creditors (CoC) and NCLT (Artificial)
IMPORTANT DATES:
1. Last date for registration of Teams: 08th March, 2024
2. Release of Problem (only to registered teams): 11th March, 2024
3. Last date to apply for Clarifications: 18th March, 2024
4. Submission of CIRP DOSSIER & Resolution Plan: 31st March, 2024
REGISTRATION FEE: INR 5,000 per team (Including accommodation on a sharing basis and food).
