Bankruptcy Code: Finance professionals on a roll as NCLT cases surge

With 600-700 new NPA cases getting admitted into NCLT every month, demand for Resolution Professionals is on the rise; their number has more than doubled in less than a year

The jury is still out on whether the Insolvency and Bankruptcy Code (IBC) is the panacea for debt-ridden banks, but it is turning out to be an opportunity for finance professionals, especially chartered accountants and company secretaries.

With 600 to 700 cases of non-performing assets (NPAs) being admitted by the National Company Law Tribunal (NCLT) every month, the demand for resolution professionals is on the rise. The number of registered resolution professionals has nearly tripled in less than a year from about 600 in June 2017 to 1,707 now, according to data from the Insolvency and Bankruptcy Board of India (IBBI).

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