Mumbai, October 22: The Indian Institute of Corporate Affairs (IICA), an autonomous body under the Union Ministry of Corporate Affairs, has signed a five-year Memorandum of Understanding (MoU) with the Association of Asset Reconstruction Companies (ARCs) in India to strengthen industry participation in its Post Graduate Insolvency Programme (PGIP).
The collaboration aims to bridge the gap between academic learning and professional practice by integrating industry expertise into the curriculum, promoting applied research and facilitating internships and placement-related opportunities for participants.
Run by IICA’s Centre for Insolvency and Bankruptcy, the PGIP seeks to develop skilled insolvency professionals and turnaround specialists equipped to handle insolvency resolution, corporate restructuring and financial distress management.
Industry Expertise In Curriculum
The MoU establishes a framework for collaboration across curriculum development, capacity building, research and knowledge sharing. Industry experts from ARCs will contribute to teaching and faculty support, helping make course modules more responsive to emerging professional requirements.
The two institutions will also explore joint research projects on debt restructuring, financial markets, stressed assets and insolvency resolution. Data sharing, subject to applicable legal, regulatory, confidentiality and access requirements, will support evidence-based research into market trends and developments.
Hari Hara Mishra, chief executive officer of the Association of ARCs in India, described the partnership as one with significant potential. He said a repository of talent and research insights was critical to maximising value for stakeholders as the distressed-assets market evolved. He called for an immediate implementation strategy, particularly to strengthen the academic rigour of the PGIP.
MoU Follows Ministry Meeting
The agreement follows the strategic alignment discussed at a meeting convened by the Ministry of Corporate Affairs on September 2, 2026.
The MoU was signed by Amrinder Puri, chief administrative officer of IICA, and Mishra in the presence of Gyaneshwar Kumar Singh, director general and chief executive officer of IICA. The Association of ARCs in India represents asset reconstruction companies registered with the Reserve Bank of India (RBI).
ARCs’ Role In Insolvency Resolution
Delivering the keynote address, Singh highlighted the role of ARCs in the insolvency resolution ecosystem, including their eligibility to participate as resolution applicants under the Insolvency and Bankruptcy Code (IBC).
He also referred to the RBI’s October 11, 2022, regulatory framework, issued following recommendations of the Sudarshan Sen Committee, which permitted eligible ARCs to act as resolution applicants under the IBC, subject to prescribed conditions.
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The institutions will develop implementation strategies, undertake collaborative research and review progress regularly. Discussions also covered a possible joint conference in February 2027 to mark IBC@10 and SARFAESI@25, with the theme and programme to be finalised jointly.
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