12th March, 2025 Workshop on Insolvency of Micro, Small and Medium enterprises (MSMEs) (230.58 KB)

Insolvency and Bankruptcy Board of India

No. IBBI/PR/2025/07
11th March, 2025

Press Release Workshop on Insolvency of Micro, Small and Medium enterprises (MSMEs) The Insolvency and Bankruptcy Board of India (IBBI) and the World Bank organised a Workshop on Insolvency of Micro, Small and Medium enterprises (MSMEs) on March 11, 2025 at India International Centre, New Delhi.
2. Mr. Ravi Mital, Chairperson, IBBI, in his opening remarks emphasized the significant contribution of MSMEs in India. He noted that recognizing the unique challenges faced by MSMEs, specific provisions and amendments to the IBC were introduced in the form of Pre-packaged insolvency resolution process (PPIRP) to facilitate a faster, more accessible, and less cumbersome insolvency resolution process for these enterprises. 3. Ms. Antonia P. Menezes, Senior Financial Sector Specialist at the World Bank, in her session on ‘Introduction to best practice principles for MSME insolvencies’, highlighted international best practices for MSME insolvencies as outlined under the World Bank’s Principles for Effective Insolvency and Creditor and Debtor Regimes. She also commended the IBBI for maintaining transparency through the regular publication of data in its quarterly newsletters.
4. Mr. Steven Kargman, Founder and President of Kargman Associates, in his session on ‘MSME insolvencies under the United States' Subchapter V’ provided an overview of the insolvency process under Sub-chapter V of Chapter 11 of Insolvency Code and its implementation. 5. Mr.

sion on ‘MSME insolvencies under the United States' Subchapter V’ provided an overview of the insolvency process under Sub-chapter V of Chapter 11 of Insolvency Code and its implementation. 5. Mr. Joseph Spooner, Associate Professor at the London School of Economics (LSE) Law School, led a session on ‘Analyzing the PPIRP and Recommendations for the Future’. He presented an analysis of the Pre-Packaged Insolvency Resolution Process (PPIRP), comparing it against international best practices and offering recommendations to enhance its effectiveness. 6. Distinguished international experts along with participants from IBBI and Department of Financial Services, Ministry of Finance discussed global best practices, legal frameworks, and policy recommendations for strengthening MSME insolvency resolution during the Workshop. It also provided key insights into international best practices, legal perspectives, and strategies for further improving insolvency frameworks in India.