IICA Signs MoU with Association of ARCs in India for PGIP

The Indian Institute of Corporate Affairs (**IICA**), an autonomous body under the Ministry of Corporate Affairs, has signed a Memorandum of Understanding (MoU) with the **Association of ARCs in India** to deepen industry linkages for its flagship Post Graduate Insolvency Programme (PGIP).

- Scope of Collaboration: The partnership encompasses industry faculty support, joint research on distressed assets, data sharing, placement opportunities, and an annual joint conference.

- PGIP Objective: Run by IICA’s Centre for Insolvency and Bankruptcy, the PGIP develops skilled insolvency professionals and corporate turnaround specialists.

- Role of ARCs: Following regulatory frameworks established by the RBI (based on the Sudarshan Sen Committee recommendations), eligible Asset Reconstruction Companies can participate as resolution applicants under the Insolvency and Bankruptcy Code (IBC).

- Partnership Duration: The MoU is signed for a period of five years, with plans to host a joint conference in February 2027 marking milestones like IBC@10 and SARFAESI@25.

- IICA (Indian Institute of Corporate Affairs): Operates under the aegis of the Ministry of Corporate Affairs; Headquarters - Manesar, Haryana.

- Insolvency and Bankruptcy Code (IBC): Enacted in **2016**.

- SARFAESI Act: Enacted in **2002** to regulate the securitization and reconstruction of financial assets and enforcement of security interest.

Q: Which institution signed an MoU with the Association of ARCs in India to strengthen its PGIP programme?

A: Indian Institute of Corporate Affairs (IICA)

Q: In which year was the Insolvency and Bankruptcy Code (IBC) enacted in India?

A: 2016

Q: In which year was the SARFAESI Act enacted?

A: 2002

Q: Under which Union Ministry does the Indian Institute of Corporate Affairs (IICA) function?

A: Ministry of Corporate Affairs

#IICA #ARCs #PGIP #IBC2016 #CorporateAffairs #CurrentAffairs #StaticGK