ICSI President’s Message

CS (Dr.) Shyam Agrawal

Greetings from the President of the Institute of Company Secretaries of India (ICSI).

At the outset, I would like to congratulate the marathon initiative of the Government in bringing out the Insolvency and Bankruptcy Code, 2016 ("Code") in a short period of time since the constitution of Bankruptcy Law Reforms Committee on August 22, 2014. The Code consolidates individual insolvency, insolvency of LLPs and unlimited liability partnerships as well as corporate insolvency and aims at a resolution process that can be synchronous, less costly and can help efficient recovery.

The ICSI Insolvency Professionals Agency (ICSI IPA), is a wholly owned subsidiary of ICSI, registered as a Section 8 Company and plays a vital supporting and oversight role for the Insolvency Professionals enrolled with ICSI IPA. It is the endeavour of ICSI IPA to enrol, promote, develop and train the Insolvency Professionals.

I congratulate the Insolvency Professionals who have taken up a lead in the development of the emerging profession. An Insolvency Professional has to play a vital role in the insolvency resolution and liquidation process, taking ownership of affairs of the company that calls for business, professional and ethical acumen and meeting of challenges. I am confident that Insolvency Professionals would sail through these challenges and I wish them the best in their endeavours.