Cuttack: August 29: Mr. M.S. Sahoo, Chairman of the Insolvency and Bankruptcy Board of India (IBBI) graced National Law University, Odisha for a special lecture on the theme of ‘Changing dimensions of insolvency laws in India’ on 28 August 2017.
Mr. Sahoo began his talk by highlighting certain instances of historical importance such as penalties for bankruptcy in medieval England, and the policies of Chengiz Khan regarding insolvents, and traced their gradual evolution to show their current parallels on the world market scenario. Mr. Sahoo candidly talked about the establishment of IBBI in May, 2016, his tenure so far, and the development needed in the sector and the challenges being faced by the organisation, owing to its nascent existence. He also illuminated the distinction between legislative laws and Tribunal based regulations viz. SEBI.
Mr Sahoo also dealt with a wide array of issues, stressing highly upon the importance and impact of freedom to carry out trade and implement new policies, the gradually changing scope of economics in modern day marketplace, and the stark contrast in the economic development of India, in the pre and post-liberalisation era.
The entire speech was replete with anecdotal references which served to illustrate the topics in a much more lucid way. At the conclusion of the session Mr Sahoo graciously engaged in a deliberation session with the students. The students asked him questions on topics ranging from modern day cases, financial institutions, and the impact that the IBBI has had so far, all of which Mr. Sahoo handled with ease.
At the conclusion of the session, Mr. Sahoo felicitated the winners of NLUO’s internal moot court competition. He was presented with a memento by the Registrar, who thanked him for the enlightening lecture in the vote of thanks. The entire event was carried out under the stewardship of Professor (Dr.)Kondaiah Jonnalagadda and the Organising Committee for Corporate Law events.
