गालिब तेरी कश्ती के तलबदार बहुत हैं,
इस पार कुछ और उस पार बहुत हैं ।
जिस शहर में तूने खोली है शीशे की दुकान,
उस शहर मे पत्थर के खरीददार बहुत हैं ।

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Experience As Ip

The Insolvency and Bankruptcy Code, 2016 (IBC) was passed in the Lok
Sabha in the month of May 2016. It took almost six months to pass the law
after it was introduced in the month of December 2015. 

IBC that was passed in May 2016 replaced three existing laws on insolvency and bankruptcy. 

The aim of introducing this law was to seek a consolidation of the existing frame work to create a single law for insolvency and bankruptcy.

 There were several rules laid in the code one of which is the appointment of an independent insolvency professional who would though his independent means undertake the resolution process of the insolvent or sick companies. 

There are around 1800 independent resolution professionals today who are offering such services today.

Devendra Jain was one of the first ones to get into this profession. This
book aims to highlight some of the issues that still plague the profession and also some simple solutions to solve them.

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Experience As Ip

Having gained experience in the IBC field, Mr. Jain wrote and launched a book titled “Pioneer: Journey of an IP”. The book was launched at a function organized in New Delhi in the presence of learned personalities which included Sh. P P CHAUDHARY – Union Minister of State (Law & Justice & Minister of Corporate Affairs), Sh. Gajendra Singh Shekawat (Minister of State for Agriculture & Farmer Welfare), Dr. Mukulita Vijaywargiya (WTM –Research & Regulation Wing –IBBI).

The book contains various challenges faced by me and how countered them with my skill and experience in the resolution of NPA accounts. A few of them are narrated below

Handled assignments worth more than aggregate Rs.10, 000 cr. so far. With Individual assignments worth more than Rs.6000 cr.
In 2 cases Resolution Plans got approved. All the cases have completed CIRP.
One of the matters was referred to Hon’ble Supreme Court and the Court has appraised the efforts made by me.
IBBI has recognized me as one of the faculty members to deliver lectures to newly registered IPs and I am being invited to various places and for various subjects related to CIRP.
Managed an operational commercial mall at Bhopal and also improved its management to increase footfall.
Cases with only operational creditors (more than 18 lacs in number) were handled successfully. During the process got abducted too.

The book helped many other IPs and guided them to resolve any issues which may not have clear-cut references under the code. The book is also available on Amazon.

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