New Delhi: The Indian Institute of Corporate Affairs (IICA) has signed a five-year Memorandum of Understanding (MoU) with the Association of ARCs in India to strengthen industry linkages, research and placement opportunities under its flagship Post Graduate Insolvency Programme (PGIP).
The collaboration aims to bridge the gap between academic learning and industry requirements in insolvency resolution, corporate restructuring and stressed asset management. The key areas of cooperation include industry-led teaching, joint research, data sharing, internships, placement support and an annual joint conference.
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The MoU was signed in the presence of IICA Director General and CEO Gyaneshwar Kumar Singh by IICA Chief Administrative Officer Amrinder Puri and Association of ARCs in India CEO Hari Hara Mishra.
IICA, an autonomous body under the Ministry of Corporate Affairs, runs the PGIP through its Centre for Insolvency and Bankruptcy. The programme aims to develop a skilled pool of insolvency professionals and turnaround specialists. The agreement follows the strategic alignment discussed at a meeting convened by the Ministry of Corporate Affairs on September 2, 2026.
Addressing the gathering, Singh highlighted the role of Asset Reconstruction Companies (ARCs) in India's insolvency resolution ecosystem, including their eligibility to participate as resolution applicants under the Insolvency and Bankruptcy Code, 2016 (IBC), subject to regulatory conditions.
He referred to the Reserve Bank of India's regulatory framework issued on October 11, 2022, following the recommendations of the Sudarshan Sen Committee. The framework enabled eligible ARCs to act as resolution applicants under the IBC, expanding their potential contribution to corporate insolvency resolution through asset valuation, debt restructuring and management of stressed assets.
Speaking on behalf of the ARC industry, Mishra described the partnership as an initiative with significant potential, stressing the importance of building a talent pool and developing research insights to maximise value for stakeholders in the distressed asset market. He also called for an early implementation strategy to achieve the MoU's objectives and make the PGIP curriculum more responsive to industry requirements.
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Under the agreement, ARC professionals will contribute to teaching and faculty support, helping align PGIP modules with emerging industry needs. The two institutions will also undertake joint research in areas such as debt restructuring, financial markets, stressed assets and insolvency resolution.
The collaboration provides for data sharing, subject to applicable legal, regulatory, confidentiality and access requirements, to support evidence-based research and the development of resources on market trends.
In addition, the institutions will explore internship and placement opportunities for PGIP participants and expand industry engagement. An annual joint conference will provide a platform for discussing emerging challenges, exchanging professional insights and presenting research findings.
The five-year agreement is expected to establish a structured mechanism for sustained engagement between IICA and the Association of ARCs, with implementation strategies and regular reviews planned to translate the partnership into measurable outcomes.
The discussions also explored the possibility of holding a joint conference in February 2027 around the milestones of IBC@10 and SARFAESI@25. The theme and programme will be finalised jointly.
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