Bhubaneswar, Odisha – Two Residential IBC Conclave 3.0, a landmark event, was successfully held at Hotel Mayfair in Bhubaneswar on 3rd & 4th August 2024. For the first timeever , this prestigious conclave featured a two-day residential program in Bhubaneswar, marking a significant milestone in the region’s professional landscape.
Organized by the Insolvency and Valuation Standards Board (IVSB) of The Institute of Chartered Accountants of India (ICAI) and hosted by the Eastern India Regional Council (EIRC) of ICAI, the event was supported by the Bhubaneswar and Cuttack Branches of EIRC of ICAI. The conclave saw participation from a diverse array of professionals, including Chartered Accountants, Company Secretaries, Cost Accountants, Bankers, Advocates, Regulators, legislators and many more. This diversity underlined the program’s role as a premier networking platform and an awareness catalyst for professionals practicing the Insolvency and Bankruptcy Code (IBC).
Bhubaneswar, the vibrant capital city of Odisha and a rapidly growing hub in Eastern India, was strategically chosen as the venue. This choice highlighted the city’s rising prominence and its suitability for hosting such a life experiencing significant event.
For the purpose of awareness of IBC, a press meet was organised on 2nd August, 2024 which was headed by CA Durgesh Kabra, Vice Chairman of IVSB of ICAI alongwith CA Vishnu K Tulsyan, Vice Chairman EIRC and Chairmanof Bhubaneswar Branch CA Jahnavi Deo and Vice Chairman of Bhubaneswar Branch CA Mahendra Sahoo.
First day of the event was graced in the presence of Smt. Surama Padhy, Hon’ble Speaker of the Odisha Legislative Assembly, as the Esteemed Chief Guest. In her insightful speech, she lauded the ICAI with special mentioning of CA Gyanchandra Mishra, Chairman of IVSB of ICAI, CA Durgesh Kabra, Vice Chairman IVSB ICAI, CA Vishnu K. Tulsyan, Vice Chairman EIRC & Chairman IBC Committee EIRC and CA Pradip Kumar Sahoo, Immediate Past Chairman Bhubaneswar Branch of EIRC for their commendable efforts in bringing this program to Bhubaneswar. She praised the fact that 60% of IBC practitioners are CA professionals. She emphasized the importance of understanding IBC laws and encouraged ICAI to organize more such programs to enhance professional knowledge and awareness in this region.
Smt. Padhy also expressed her delight over the special arrangements made for the delegates to visit the holy temple of Lord Shri Jagannath, adding a spiritual dimension to the event.
The IBC Conclave 3.0, with its theme “Catalyst for Growth: Evolution by Resolution,” proved to be a path-breaking initiative. It not only created greater awareness of IBC but also provided a robust platform for professional networking and growth. This pioneering event in the Eastern Region set a new benchmark for future programs, reinforcing the importance of such initiatives in the professional community.
Successful Completion of Day-1 IBC 3.0 Residential Program
Day-1 of the IBC 3.0 Residential Program at Mayfair Lagoon witnessed a significant turnout of industry experts, legal professionals, and key stakeholders who engaged in enriching discussions and knowledge-sharing sessions. The highlight of the event was the presence of the Hon’ble Speaker of the Odisha Assembly, Madam Surama Padhy, who served as the Chief Guest. In her keynote address, Madam Padhy applauded Team EIRC and IBC Committee Chairman Vishnu K. Tulsyan for organizing such an insightful program. She emphasized the critical role of the IBC in fortifying the economic framework of the country and praised the committee’s efforts in making substantial progress in insolvency resolution.
“The Insolvency and Bankruptcy Code has been instrumental in transforming India’s economic landscape. The commendable work of CA Vishnu K. Tulsyan and his team ensures the IBC remains a powerful tool for resolving insolvencies and protecting stakeholders’ interests,” stated bySmtSurama Padhy.
The program concluded with seven impactful sessions from 1PM to 9PM and covered various topics such as contributions of IBC to the Indian economy, navigating the complexities of insolvency proceedings,sale as a going concern in liquidation, making money from stressed assets alike and ended with Panel Discussion headed by CA Subodh Kr. Agarwal, Past President, ICAI, Shri B Suresh Kumar, GM, SBI SAMRO, Kolkata, Shri Hari Hara Mishra, CEO, ARC Association, Mumbai, CA Pankaj Tyagi, Past Council Member, ICAI, CA Rajesh Agarwal, CA Sunil Sahoo, Past Chairman, EIRC, Dr. M S Sahoo, Past Chairperson, IBBI and CA Jayesh Sanghrajka.
The Conclave was attended by, CA Sanjib Sanghi, Chairman of EIRC, CA Mayur Agrawal, Secretary cum Treasurer, EIRC, CA Ravi Patwa, Past Chairman, EIRC,CA Janhavi Deo, Chairperson of Bhubaneshwar Branch and CA Ratna Rachita Mohanty , Chairperson of Cuttack Branch.
CA Vishnu K. Tulsyan, Vice Chairman of EIRC expressed his heartfelt gratitude to Madam SmtSurama Padhy for her support and recognition. “It is an honor to receive such high praise from the Speaker of the Odisha Assembly. Our commitment to advancing the IBC remains unwavering, and we will continue to strive for excellence in insolvency resolution,” he affirmed. More than 120 delegates joined this conference.
Second day session will start from 9 AM at the same venue and will continue till 2 PM. A tree plantation drive also has been taken by the Bhubaneshwar Branch of EIRC jointly with EIRC of ICAI as a small step towards the greener earth.
