The Gujarat National Law University Centre for Corporate and Insolvency Laws (GCCIL), in collaboration with the Insolvency and Bankruptcy Board of India (IBBI) and Insolvency Law Academy (ILA) is organising a 2nd Edition of GCCIL National Mock CIRP Competition, 2025 from 6th – 8th March, 2025.
About the Gujarat National Law University
Gujarat National Law University (GNLU) is the statutory university established by the Govt. of Gujarat under the Gujarat National Law University Act, 2003. The University is recognized by the Bar Council of India (BCI) and the University Grants Commission (UGC) (2f & 12B). The University is also a member of the Association of Indian Universities (AIU), United Nations Academic Impact (UNAI), International Association of Law Schools (IALS), Asian Law Institute (ASLI) and Shastri Indo-Canadian Institute.
About GNLU Centre for Corporate and Insolvency Law
The GNLU Centre for Corporate and Competition Law was established on 13th October 2012 by Hon’ble Mr. Justice K. A. Puj, Former Judge, High Court of Gujarat with multiple objectives and endeavours to act as a platform for expanding scope and horizon of corporate and competition law through multi-dimensional research activities and publications. With the introduction of the Insolvency and Bankruptcy Code, 2016, the Centre for Corporate and Competition Law has been renamed as ‘GNLU Centre for Corporate and Insolvency Laws’ (GCCIL) with effect from 30th January 2020.
As one of the centres of excellence of GNLU Gandhinagar, one of the premier National Law Universities in India, the GCCIL was founded to conduct cutting-edge research and activities that would broaden the focus and horizon of Corporate and Insolvency Law research and publication. Since its inception, the Centre has been a forerunner in the field of research and training. The Centre has organised several research, training and extension activities in the field of Corporate, Competition and Insolvency laws.
About the Insolvency and Bankruptcy Board of India
The Insolvency and Bankruptcy Board of India was established on 1st October 2016 under the Insolvency and Bankruptcy Code, 2016 (Code). It is a key pillar of the ecosystem responsible for the implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders.
It is a unique regulator, regulates a profession as well as processes. It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities and Information Utilities. It writes and enforces rules for processes: corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code. It has recently been tasked to promote the development of, and regulate, the working and practices of, insolvency professionals, insolvency professional agencies and information utilities and other institutions, in furtherance of the purposes of the Code. It has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.
About the Insolvency Law Academy
Insolvency Law Academy is an institute of excellence in insolvency. As an independent think tank and research institution, ILA contributes to robust, evidence-based policymaking and the enhancement of professional and ethical standards in the insolvency industry through cutting edge research, innovation, and the development of best practices. In a very short span of time, ILA has successfully created the soft infrastructure for a world-class institute of excellence. ILA has forged collaborations with many global and Indian institutions of eminence, and together with them, has taken thought leadership in several futuristic areas.
About the Competition
GCCIL in collaboration with Insolvency Law Academy (ILA) and Insolvency and Bankruptcy Board of India (IBBI) is organising 2nd Edition of the ‘GCCIL NATIONAL MOCK- CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP) COMPETITION, 2025’ with an aim to inculcate procedural understanding of CIRP under IBC, 2016 and to make students aware about mechanism under IBC. Students will brainstorm and chalk out resolution plans for a distressed debtor considering the financial, economic and legal aspects, and present it in front of a Committee of Creditors (CoC) and NCLT (Artificial), which will, by vote decide the fate of the debtor.
Important Dates
Last Date for Registration of Teams: 31st January 2025
Release of Problem (Only to registered Teams): 05th February, 2025
Last Date to Apply for Clarifications: 12th February, 2025
Submission of CIRP DOSSIER and Resolution Plan: 01st March 2025
Competition Guidelines:
Refer the guidelines for more information about the competition: https://drive.google.com/file/d/1hRk6_Q2Zc8muTVH4F4RuFM4nXyBmQ6gw/view?usp=drive_link
Awards
Best Team: 25000 INR
Runners-up: 20000 INR
Best Resolution Professional (RP): 10000 INR
Best Interim Resolution Professional (IRP): 10000 INR
Best CIRP DOSSIER and Resolution Plan: 5000 INR
Link for Registration:
Cross-university teams are allowed!
Participants may use the link below to register their Team members: https://forms.gle/vUKJVfuQqUmmMjC2A
Link for Payment:
Participants may use the link below for payment of registration fees: https://rzp.io/rzp/NMnrVXgT
Brochure
The brochure may be accessed from this link: https://drive.google.com/file/d/1_0tvu9VrxnOyqVbCpztOj6AejLFeyOp3/view?usp=drive_link
Contact Information
For any questions and queries, participants may contact:
Govinda Asawa (Student Convenor): govinda20bal018@gnlu.ac.in
Kumar Kanishk Sinha (Student Convenor): +91 63889 72888
Or alternatively, may write to us at: mockcirp.gccil@gnlu.ac.in
