International Conference on MSMEs: Legislative and Regulatory Challenges

International Conference on “MSMEs: Legislative and Regulatory Challenges” (UNCITRAL and Indian Perspective) scheduled to be held on 03 February 2022.

UNCITRAL Regional Centre for Asia and Pacific

The UNCITRAL Regional Centre for Asia and the Pacific (RCAP), located in Incheon, Republic of Korea, is the only regional center of the United Nations Commission on International Trade Law (UNCITRAL). Since its establishment in 2012, RCAP has been supporting the mandate of UNCITRAL by furthering the progressive harmonization and modernization of international trade and commercial law in approximately 60 jurisdictions with different legal systems and levels of economic development in the Asia-Pacific region, thereby promoting the Sustainable Development Goals. RCAP carries out its objectives by promoting certainty in international commercial transactions through the dissemination of international trade norms and standards, in particular, those elaborated by UNCITRAL; providing capacity-building and technical assistance services to States with respect to the adoption and uniform interpretation of UNCITRAL texts through workshops and seminars; engaging in coordination activities with international and regional organizations active in trade law reform projects in the region, and functioning as a channel of communication between States in the region and UNCITRAL. As one of RCAP’s annual flagship events, UNCITRAL Asia Pacific Day (AP Day) comprises a series of academic activities that RCAP co-hosts with institutions of higher learning to commemorate the December 1966 General Assembly Resolution establishing UNCITRAL. In addition to raising awareness of UNCITRAL’s work among academic institutions and law students, the AP Day events also provide neutral platforms for discussions on the adoption and implementation of UNCITRAL instruments in the region.

Insolvency and Bankruptcy Board of India

The Insolvency and Bankruptcy Board of India (IBBI) 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, namely, 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.

Tamil Nadu National Law University

The Government of Tamil Nadu established this institution of learning by an Act of State Legislature (Act No. 9 of 2012). TNNLU’s vision is to impart quality legal education nurtured within a robust culture of interdisciplinary research and teaching in an equitable, respectful and supportive environment producing legal practitioners and scholars who will be committed to justice, social transformation, and national development. TNNLU offers two five-year integrated Undergraduate Programmes [B.A. LL.B. (Hons.) & B.Com. LL.B. (Hons.)], one year LL.M. Programme in three streams [Corporate and Securities Laws, Intellectual Property Laws and Natural Resources Laws] and a Ph.D. Program in Law. The University Grants Commission has recognized and approved TNNLU under Section 2(f) and under Section 12B of the UGC Act, 1956. TNNLU has received recognition from the Bar Council of India for the programs it offers. TNNLU is a member of Shastri Indo-Canadian Institute, Institute of Company Secretaries of India, Association of Commonwealth Universities, Asian Law Institute, and Indian Academy of Social Sciences (permanent member). TNNLU is also an impaneled institution with the Competition Commission of India.

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 endeavors to act as a platform for expanding the 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 Law’ (GCCIL) with effect from 30th January 2020.

The GCCIL aims to contribute to the field of Corporate and Insolvency Laws through research, deliberations, practical inputs, legal solutions, and creative awareness; thereby filling the gaps and easing the hurdles. The Insolvency and Bankruptcy Code, 2016 plays an important role in the Corporate World and therefore GCCIL aims to undertake cutting-edge research in Corporate and Insolvency Laws.

About the Conference

Micro, Small Medium Enterprises play a vital role in the Indian economy. It is one of the major contributors to the socio-economic contributor of our country. As per the Central Statistics Office, Ministry of Statistics & PI, Share of MSME Gross Value Added (GVA) in All India Gross Domestic Product for the year 2018-19 and 2019-20 were 30.5% and 30.0% respectively. Further, as per the Directorate General of Commercial Intelligence and Statistics, the share of export of specified MSME-related products to All India exports during 2019-20 and 2020-21 was 49.8% and 49.5% respectively.

The outbreak of the Covid-19 pandemic bought severe hardship to various sectors among which the most vulnerable and affected enterprises are MSMEs. As per a report published in Economic & Political Weekly, on average, 44% of their workforce, and 69% of firms were unable to survive more than three months. A large number of MSMEs were facing severe insolvency issues. Therefore, to enhance the innovations from the grass-root level, the need of the hour is to protect them at low cost and less time. Given the right platform to the MSMEs by granting protection to the local innovations, can act as a catalyst in the further growth of the Indian Economy.

Considering the repayment abilities of the MSME sector, the government has brought an amendment to the Insolvency and Bankruptcy Code (IBC) inserting a new provision for a pre-pack resolution scheme for MSMEs. This new scheme empowers the debtor to activate the bankruptcy process and is expected to come up with the solution in less amount time and money. It will also help the MSMEs to absorb and recover from the financial shock which they have to face during the covid-19 pandemic. Apart from the insolvency issues, several other aspects are required to be deeply looked at to enhance the overall structural framework ranging both from the legislative and regulatory side. This conference will provide a platform to discuss and disseminate the different aspects pertaining to the legislative and regulatory framework of MSMEs. This intense academic discussion will help in identifying the correction needed so as to continue to stand as a major support to the Indian economy even after the pandemic.

Round Table Conference

The Conference aims to organize a Virtual Round Table on the broad theme described below, where academicians, judges, professionals, and experts from around the world will disseminate their views and ideas:

“MSMEs: Legislative and Regulatory Challenges” (UNCITRAL and Indian Perspective)

Callfor Presentations

The Conference invites proposals for presentations from interested students, academicians, practitioners, professionals, and experts on the below-mentioned themes:

MSMEs: Legislative and Regulatory Framework
MSMEs: Organizational Structure and Government’s Support
MSMEs and Ease of Doing Business
MSMEs and Reserve Bank of India (RBI)
MSMEs and Digitalization
MSMEs and Access of Finance
MSMEs and Banks including NBFCs
MSMEs and Impact of COVID-19
MSMEs and Government Scheme (Post COVID)
MSMEs and Taxation (Pre and Post COVID)
MSMEs: Legal, Judicial & Executive Response during Pandemic
MSMEs and IBC
MSMEs and the Pre-Package Insolvency Resolution Process (PPIRP)
MSMEs: Role of Government

The above-mentioned sub-themes are merely suggestive. Interested participants may submit a proposal relevant to the main theme for presentation.

Submission Guidelines

The Interested Contributors are requested to send their proposal for presentation in not more than 500 words (excluding footnotes and title) to gccil@gnlu.ac.in mentioning the following points:

Title of the Presentation
Object of the Presentation
Central Research Question of the Presentation
Research Findings

Important Dates

Submission of Proposal – 24th January 2022
Confirmation of Acceptance – 27th January 2022
Submission of Final Presentation – 1st February 2022

ConferenceSecretariat

Patron(s)

Dr. Navrang Saini Chairperson (Additional Charge) and Whole Time Member,Insolvency and Bankruptcy Board ofIndia
Prof. (Dr.) S. ShanthaKumar Director Gujarat National Law University, Gandhinagar
Prof. (Dr.) V. S. Elizabeth Vice Chancellor TamilNadu National Law University, Tiruchirappalli

Centre Head

Prof. (Dr.) Mamata Biswal Dean Academic Affairs & Professor of Law Gujarat National Law University

UNCITRAL RCAP Head

Athita Komindr UNCITRAL Regional Centre for Asia and the Pacific United Nations Commission on International Trade

Coordinator (IBBI)

Mr. Rajesh Kumar Gupta Chief General Manager Insolvency and Bankruptcy Board of India

Convener

Mr. Sanjeev Kumar Choudhary Assistant Professor of Law Gujarat National Law University

Coordinator (TNNLU)

Dr. Amirthalingam Associate Professor of Law Tamil Nadu National Law University

Member(s)

Mr. Ajit Behera Assistant Manager Insolvency and Bankruptcy Board of India
Mr. S. Mohammed Azaad Assistant Professor of Law Tamil Nadu National Law University
Mr. M. L. Shankar Kaarmukilan Assistant Professor of Law Tamil Nadu National Law University

Secretary