3rd Insolvency and Bankruptcy Moot Competition 2019
Organised by the Centre for Transnational Commercial Law (CTCL) – National Law University Delhi
In Collaboration with the INSOL India and Society of Insolvency Practitioners of India (SIPI),
Supported by Insolvency and Bankruptcy Board of India (IBBI) and UNCITRAL RCAP
11th-12th November 2019, National Law University Delhi, Sec-14 Dwarka, New Delhi – 110078, India
The National Law University Delhi, in collaboration with INSOL India and Society of Insolvency Practitioners of India (SIPI), supported by the Insolvency and Bankruptcy Board of India (IBBI) and the UNCITRAL Regional Centre for Asia and the Pacific, had initiated a Moot Competition on Insolvency and Bankruptcy in 2017. The Centre for Transnational Commercial Law at National Law University Delhi (“CTCL”) is the Organising Body for this Moot.
Insolvency Law is a sophisticated and complex economic law. It is one of the most critical components of the financial architecture of any country involving a wide range of stakeholders. It is critical that the students of law, commerce, and management understand the nuances of this specialised subject, by both education and training in this field.
This Moot is the first of its kind in India, and it was conceived as a platform to enable students of the top Law Universities in India to engage with various stages of the insolvency process; wherein the simulations are as close as possible to the actual proceedings before the NCLT. The 3rd edition of IBMC was conducted on 11th-12th November 2019. Around 40 teams representing law schools from all around the country registered and participated in the competition. After a Memorandum Qualification round, 8 teams from the following institutions made it into the Oral Rounds conducted at NLU Delhi:
National Law University Odisha; School of Law, UPES.; National Law Institute University, Bhopal; National University for Study and Research in Law, Ranchi; National Law University, Jodhpur; Rajiv Gandhi National University of Law; Chanakya National Law University, Patna; and OP Jindal Global University Law School.
After the Preliminary Oral Rounds which were judged by professionals proficient in the law, 4 teams qualified into the Semi Final Round: National University for Study and Research in Law, Ranchi; National Law University, Jodhpur; Chanakya National Law University, Patna; and OP Jindal Global University.
National University for Study and Research in Law, Ranchi, and OP Jindal Global University made it into the Final Round of the competition, which was judged by Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India, Shri Bahram Vakil, Founding Partner, AZB & Partners and Founder Partner of Insol India and Shri Amarjit Singh Chandhiok, Senior Advocate and President, INSOL India.
Their presence was morale boosting for the finalists and after an interesting and grueling round, both the teams were unanimously declared winners of the moot!
Joint Winners:
National University for Study and Research in Law, Ranchi, and
O. P. Jindal Global University Law School
At the Valedictory ceremony of the competition, the dais was graced by legal luminaries. Dr. Risham Garg, Associate Professor of Law & Director, Centre for Transnational Commercial Law (CTCL), National Law University Delhi, spoke about the moot. Prof. Dr. Ranbir Singh, Vice Chancellor, National Law University Delhi, delivered the Welcome Address. Shri. Bahram Vakil gave the Special Address; while the Valedictory Address was delivered by Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI); and following the Prize Distribution, Prof. Dr. G. S. Bajpai, Registrar, National Law University Delhi, gave the Vote of Thanks bringing the addresses to a completion and bringing the competition to an end.
The participants had the opportunity of not only witness the highest level of advocacy but also learn from top professionals in the field. The participants shared fond memories of this competition. We thank them for their participation and wish them all the best for the challenges that lie ahead.