Recommendations for the Draft Insolvency and Bankruptcy Bill

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The Bankruptcy Legislative Reforms Committee recently submitted its report and signed off on the Draft Insolvency and Bankruptcy Bill. The Ministry of Finance released the report's Rationale and Design, along with the Draft Bill, on its website. IDFC Institute hosted private roundtables with Ajay Shah, Head of the Macro/Finance Group at the National Institute of Public Finance and Policy, and Susan Thomas, Faculty at the Indira Gandhi Institute of Development Research, to discuss recommendations to forward to the government on Legal and Economic Implications of the Bill. The presentation made by Ajay Shah and Susan Thomas can be downloaded here. 

Recommendations on the Bill submitted by L. Viswanathan, Cyril Amarchand Mangaldas, can be downloaded here. This does not represent the views of Cyril Amarchand Mangaldas. Recommendations on the Bill submitted by Anjan Dasgupta, HSA Advocates, can be downloaded here. This does not represent the views of HSA Advocates.



Ajay Shah

Ajay Shah is the Head of the Macro/Finance Group at the National Institute of Public Finance and Policy. He has held positions at the Centre for Monitoring Indian Economy, Indira Gandhi Institute of Development Research and the Ministry of Finance. He does academic and policy-oriented research in the fields of Indian economic growth, open economy macroeconomics, public finance, financial economics and pensions. In the past decade, he was extensively involved in the policy process for reforming the equity market and the New Pension System.

He holds a Ph.D. in Economics from University of South Carolina and a B. Tech from Indian Institute of Technology, Bombay.


Susan Thomas

Susan Thomas is faculty at the Indira Gandhi Institute for Development Research, Bombay. Her research has primarily been in financial econometrics, specifically modelling volatility of prices, and analysing aspects of market microstructure in Indian financial markets. She has worked on projects with the World Bank, IFC, ADB, NSE, India, FMC and the MoF. She presently serves on the board of directors at Risk Committee of IFMR Capital in Chennai, Benchmark AMC, SBI Pension Fund Management Co., the Trustee Board of India Value Fund Associates, the Executive Committee for F\&O at the NSCCL, India, the Technical Advisory Committee for Foreign exchange, money markets and government securities, RBI and the Secondary Markets Advisory Committee, SEBI. 

She completed her graduate studies in engineering from the Indian Institute of Technology (IIT), Bombay, and her Ph. D in Econometrics from University of Southern California, Los Angeles.




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