IBBI grants approval to NLIU to offer the Graduate Insolvency Programme

IBBI - NLIU - Graduate Insolvency Programme - Taxscan

The National Law Institute University (NLIU), Bhopal, has become the first university to be approved by the Insolvency and Bankruptcy Board of India (IBBI) to offer the Graduate Insolvency Programme.

The NLIU had submitted the Expression of Interest to the IBBI for the conduct of the Graduate Insolvency Program (GIP) on 15 January, 2021.

The Graduate Insolvency Program is the first of its kind for those aspiring to take up the insolvency profession as a career in India and abroad and will benefit at entry-level and in career growth. This GIP would also provide opportunities to serve as in-house counsels or advisors to stakeholders in insolvency, liquidation, bankruptcy, or turnaround processes. GIP will be of great value to those who opt to become teachers or researchers or work in media houses.

The Board has granted approval to NLIU, Bhopal for conduct of the GIP from the academic session of 2021-22 subjected to various conditions.

Firstly, in an academic year enrolment in the programme shall not exceed 40 seats.

Secondly, academic curriculum shall be designed in a manner that at least 40 percent of sessions in the first year of the programme shall be delivered by practitioners.

Thirdly, the course and internship may be conducted as per the details listed out by the IBBI’s Working Group on GIP in its report.

Lastly, the terms of conditions for grant of this approval for ensuring compliance.

The NLIU, Bhopal has been requested to consider association with a management institute, such as the Indian Institute of Management, Indore for the purpose of delivery of GIP, to enhance its faculty strength in the subjects of Management and Economics for more effective delivery of the course in a holistic manner.

The Board has further requested that NLIU Bhopal may convey its acceptance to commence the GIP courses w.e.f 2021-22 academic session. To effectuate the same, a detailed action plan along with the roadmap for roll-out of the GIP may be shared with IBBI at the earliest.

A student who completes the GIP will be eligible for registration as an insolvency professional without having to wait to acquire the minimum 10 years experience as required by the Code at present’.

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